One of the biggest series of mistakes that people are likely to make while on vacation is money-related and financial mistakes.
The last thing you want is for your fun vacation to end up ruining or seriously harming you financially, so to help you out, we’re going to go over the top money mistakes that people often make on vacation and how to avoid them.
Here are the most common money mistakes that people make while on vacation:
Overspending Credit Cards
Traveling is no excuse to go crazy on your credit cards and get into seriously debt.
And while most people are aware of this, since they’re away from home and enjoying themselves they often don’t keep track of how many transactions they’re making on their cards, only to be shocked when they get back home after checking their statement.
The solution? Download the apps for the credit card(s) you’ll be using, and then check up on your transactions each morning. After the transactions are no longer pending, pay them off right then and there.
Not Securing Your Electronic Items
Not only do you need to take careful care of you wallet and its contents, but you will also need to do so for your electronic items as well. If your phone, laptop, or tablet become stolen, it provides an easy route for people to access your financial accounts.
Don’t leave anything unattended, and anything you leave in the hotel room should be secured in a safe or left at the front desk.
Getting A Bad Exchange Rate
Another common mistake people make is to get a bad exchange rate when converting funds before entering another country. The reason why is because people often use the exchange services at airport. You’ll get a much better exchange rate, however, by using an online service such as Remitly.
Accessing Financial Information Using A Public Computer
This is all the same as not securing your electronic items like we just discussed.
And all the same, you won’t want to use any of your electronic devices to access public wi-fi hotspots either, at least not if you’re going to be accessing your financial accounts.
Missing Payments Back Home
Last but not least, traveling or vacationing is also not an excuse to be missing any payments back home. You’re still going to need to be fully up-to-date on everything from the mortgage payment to the car payment to the smaller bills and so on.
The best solution here is to set up automatic payments so you can ensure that you don’t miss anything while simultaneously not having to deal with paying bills while you’re enjoying yourself on your trip.
Enjoying Your Vacation Without Making Money Mistakes
The good news is that it’s very simple to enjoy your entire vacation without making any of the critical mistakes we’ve discussed above.