Traveling Soon? Consider These 4 Tips

We’re quickly approaching high travel season as temperatures rise, daylight lingers, and schools break for summer. If you are jet-setting soon or just beginning to plan, there can be many things to think about, so we have outlined four of the most important financial considerations.

  1. Save Extra
    There are a variety of expenses that come with traveling: airfare, lodging, food, and shopping, but there are also many other expenses often overlooked or simply forgotten. Such as the costs of transportation, various excursions, service tips, laundry, care for pets, and more. It is almost guaranteed that you will incur costs you didn’t anticipate, so when you come across an extra activity you would enjoy, but you have already maxed out your budget, it can create disappointing restrictions or lead to overspending. Therefore, setting aside extra funds to act as a buffer for your travels will allow you to comfortably pay for the unanticipated adventures (or mishaps) and take advantage of surprise opportunities without feelings of guilt.
  2. Use Credit and Cash
    Credit cards have a federal liability limit of $50 for fraudulent charges payable by the cardholder when reported within 60 days. Debit cards have the same federal liability limit of $50 when reported within two days and a $500 limit when reported within 60 days. Therefore, it is recommended to use credit over debit when traveling, if possible, to protect yourself from potential financial harm. Although most vendors accept credit cards, there are still vendors who are cash only, so having a small amount of local currency on hand can be convenient when these situations arise. You may even be able to order foreign currency from your bank before you leave.

  3. Look into Travel Insurance
    Having a health scare is one of the last things you want to happen right before or even during your vacation. Travel insurance is often ignored, but it can be a substantial cost savings if you unexpectedly need to cancel your trip, have a medical emergency on the trip, face weather delays, or more. Make sure you read the details on which expenses can be refunded and if your current health insurance has any international coverage so you can better determine the best travel insurance policy for your needs.

  4. Check your Phone Plan
    Another key consideration when traveling abroad is to make sure your cell phone plan doesn’t charge you exorbitant fees for international data usage and roaming. This step can be easily forgotten, so be sure you talk to your cell phone carrier in advance when preparing for international use. You can also take advantage of Wi-Fi connections when available to use free messaging apps like WhatsApp or download desired maps and videos to avoid using too much data.

Traveling is a time to make memories, expose yourself to different cultures, or just relax (depending on your travel style). Doing some extra research ahead of time is worth it, so you don’t have to fear an unexpected event throwing off your financial plans.


Apella Capital, LLC (“Apella”), DBA Apella Wealth is an investment advisory firm registered with the Securities and Exchange Commission. The firm only transacts business in states where it is properly registered or excluded or exempt from registration requirements.Registration of an investment adviser does not imply any specific level of skill or training and does not constitute an endorsement of the firm by the Commission.Apella Wealth provides this communication as a matter of general information. Any data or statistics quoted are from sources believed to be reliable but cannot be guaranteed or warranted. 

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