It’s that time of the year! The air is buzzing with travel plans because it’s peak vacation season.
While you’re busy sorting out the nitty-gritty details of your upcoming trip—including activities, hotels, transportation, and packing—there’s one crucial aspect that often gets overlooked: your finances.
Yes, it’s much more fun to focus on the adventure that lies ahead but setting up your finances before jetting off to the airport will make your vacation more enjoyable in the long run. Because let’s face it, the last thing you want to worry about when you are away is dealing with money stress.
In this blog, we’ll dive into some of our favorite financial tips for soon-to-be travelers.
Pay your bills in advance
Whether you are island hopping in the Mediterranean or visiting grandma for the weekend, the last thing you want to worry about is your energy bill. Consider paying your bills in advance or setting up automatic payments for your rent, utilities, or credit card bills.
That way, you can spend less time worrying about missed payments or late fees and more time creating unforgettable memories on your trip.
Secure your finances: Notify your bank!
Picture this: You've spent an exhilarating day exploring vibrant streets of Tokyo, immersing yourself in the rich culture and marveling at the bustling markets. As you find the perfect keepsake in a local shop, you approach the cashier to make the purchase. However, to your dismay, your card is repeatedly declined. The line forming behind you grows impatient, and frustration sets in. Your account has been frozen due to suspected fraudulent activity, leaving you stranded in a foreign land without access to your funds. This could have been avoided.
It is always wise to inform your bank and credit card company of your travel plans, especially if you are leaving the country. The way you notify varies between financial institutions. For some, you can set up travel notifications online, while others make it easy to call customer service and request for a note to be put on your file. By keeping your financial institutions in the loop, you minimize the risk of your card/account being frozen unexpectedly during your travels. Academy Bank makes it easy to set travel alerts with Card Control features available in Digital Banking or through our mobile app.