Ah, summer. The weather gets warmer, days are longer and you may have an exciting international vacation on the horizon. While we all get excited about our summer plans, searching for a flight on Expedia.com or a similar site should only be the beginning of comprehensive travel preparation. Here are some quick tips.
Back-Up Your Identity
Particularly if you are traveling internationally (and especially to places that are known for having overly touchy locals), having a photocopy of passports and credit cards can save you in a pinch. You may want to consider placing the copies somewhere secure and separate from the originals. I would avoid keeping these docs in your email account in case it gets hacked (which is more likely with email than with a Box.com account—see my last blog post on protecting your identity). I also warn against using Internet cafes to check banking information or email. The same issue exists with non-password-protected Wi-Fi networks at a hotel or a coffee shop. Whether these documents are with a relative back home or an encrypted file service, make sure they are accessible.
Don’t Pay a Fortune Exchanging Money
Long gone are the days when traveler’s checks were the final word in spending money abroad. Although traveler’s checks have their perks (namely, they can often be refunded if stolen), many travelers find them cumbersome and expensive to use. ATMs offer easier and cheaper ways of getting local currency since you get the same interbank exchange rate that most big banks get. Be aware of ATM fees, as many banks still charge them, though there is a growing trend of banks that offer fee-free withdrawals around the world (Charles Schwab High Yield Investor Checking is one of my favorites). Other banks, like Bank of America and HSBC, offer partnerships with international banks that can help you avoid fees as well.
Know Your Credit Cards
Many credit cards offer some great perks abroad, but get familiar with what your personal cards offer. Use the card that offers no or low foreign transaction fees (most charge around 3%). Letting your card providers know that you will be out of the country (and where you will be going) will also keep them from shutting your card down preemptively due to fraud concerns. Also, don’t assume that you’ll get the same auto insurance coverage internationally just by using your card to rent a car. Read all the fine print and ask questions when speaking with a representative.
Evaluate Travel Insurance
Depending on where you are going and how far your current medical coverage extends, travel insurance may be a worthy purchase. One argument in favor of travel insurance is for destinations with limited health facilities that might require one to be airlifted out, as this can get extraordinarily expensive.
Know Your Destination
Some trips are going to simply cost more than others, so knowing this ahead of time will help you plan your finances accordingly. It’s easier to spend more on nice hotels in places like London and Japan than it is in, say, the Dominican Republic. For fun, I like looking at the Hotels.com “Club Sandwich Index,” an annual survey on the cost of a club sandwich in countries around the world, which gives some color on the cost of living associated with that city. (Geneva topped the list for 2013 at a whopping $30.45.) Also, if you don’t need room service and a concierge, consider a vacation rental (Airbnb and vrbo are both good sites). If you’re traveling with older children or as a group of four adults, apartments are usually less expensive than two hotel rooms.
You can drive yourself crazy trying to plan for every possible travel contingency (just ask my usual travel companions—my over-zealous planning has been known to stress them out.) But planning ahead can take some travel stress off your shoulders, and potentially save you a lot of money and inconvenience. As our expensive club sandwich eaters in Geneva say, bon voyage!
