6 Tips on Managing Expenses While Traveling

It’s summer vacation season again, and whether you’re traveling within the U.S. or overseas, credit cards can provide extra protection that other payment options don’t.

Here are some simple tips from Citi’s free credit education program, Use Credit Wisely, to help you travel safely this summer:

  1. Set a Daily Budget : It’s exciting to visit a new place but between the sightseeing, dining out and buying souvenirs for you and your loved ones, it’s easy for expenses to get out of hand. Set a daily budget for yourself by dividing your budget for the entire trip by the number of days you’ll be away. You will get a clearer understanding of exactly how much money you can spend per day.
  2. Only Pack What’s Necessary : From clothes to your credit cards, try to streamline what you take with you on your trip. Limit the number of credit cards you carry. Be sure to take an extra credit card with a separate account number and leave it in your hotel safe as a back-up.
  3. Keep Your Credit Card Issuer Informed : Before traveling abroad, let your credit card issuer know when and where you’ll be going for added protection and access to your credit overseas. Also, familiarize yourself with the overseas terms of your credit card.
  4. Paper or Plastic? : In this situation, it’s better to go with “plastic.” Credit cards offer great benefits for travel. They are safer than carrying cash, can be replaced if lost or stolen, and are accepted at millions of location worldwide.
  5. In Case of Emergency : Credit cards can provide added protection such as emergency travel assistance, travel accident insurance and account monitoring against fraud.
  6. Travel Comfortably : Do you really want to sit on the plane for hours with a wad of cash in your back pocket? Rest assured, traveling with a credit card will alleviate the stress of having to travel with hundreds of dollars with you.

Traveling with a credit card also means you can keep a close eye on your recent transactions by accessing your statement online 24/7, from anywhere with internet access.

About Melody Demel

Melody is Senior Manager, PR for Boingo Wireless, where she is responsible for media relations, brand building and thought leadership initiatives. Melody is a die-hard Nebraska Cornhuskers fan and retired NCAA DI college field hockey player.
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3 Responses to 6 Tips on Managing Expenses While Traveling

  1. Nuno says:

    Ha! lot’s of credit card bullets down at the end. 😉

    Here’s what I’d add:

    Keep track of expenses on your PDA/smart phone. No one likes to be too uptight on vacations but never the less one must be responsible.
 Personally I use “SPB Finance” to keep track of stuff it’s mighty handy and you might as well just 
use it for inputing your expenses. Graphs and stuff come in handy at the end of the day/week/trip.
 If you don’t feel like making that investment check out the iphone’s app store or just use whatever
 spreadsheet software you have on your phone/pda.
 Why is the phone/pda important? Because if you type it in the second you pay for it you are not 
forcing yourself the discipline of going through receipts by the end of the day. (Have I mentioned
 you should be having fun?)

    Buy stuff at supermarkets whenever possible: Water, snacks, etc. Hotel stores *will* be over priced.

    Speaking of hotel prices: laundry services? I’m sure there’s one around the corner from the hotel
 that won’t charge nearly as much as the hotel.

    Before calling room service ask yourself if you’ve explored the city enough.
    Go out! pay less
 and see more.

    Use whatever free perks the hotel gives you. Do they keep your luggage? great! if you have to checkout 
by mid-day and your flight is at 10pm, leave your luggage there wile you make time for your flight.

    Next time you buy a cell phone, consider making the extra investment so it’s not blocked to a specific network, 
if you are traveling for an extended period of time it may pay off to buy a “pre-paid” card from a “local”
 service than to use your home service’s “roaming” fees.

    Internet is all around so stop texting your friends and loved ones and embrace Twitter. (1 post, several served)

    Pack accordingly. Use wikipedia, checkout the average temperature and weather conditions, compare to your home’s data. 
Make an informed decision as to what clothes to pack. If you pack your bags with stuff you’re not wearing you’ll unnecessarily 
spend money buying clothes on your destination.

  2. Jeremy says:

    Those are great. Thanks Nuno! If it’s okay, I might pull them out as an individual post.

    Let me know.

  3. Nuno says:

    no problem what so ever. 🙂