Categories
Credit Cards

How Make the Most of Credit Cards When Travelling

One of the main things that often stop people from travelling more often is the cost of everything you need to consider when planning a trip. Indeed, sometimes when you add what up you have to pay for accommodation, flight tickets and other expenses as well, you suddenly prefer to spend your vacation at home instead of facing bankruptcy because of fulfilling your wish. However, it is not necessarily to always be like this and you can save a lot of money if you dedicate some time for research and planning. It may turn out that your dream vacation to a luxurious destination is not only possible, but it may not be as expensive as you would have expected.  

Getting a Travel Credit Card

You can start cutting down your vacation expenses by learning more about the advantages that credit cards can offer with respect to travelling. For example, you may be planning a trip that gets you outside the borders of your country. Even if you already use credit cards in your everyday life, the existing accounts that you have may not be suitable for an international travel. It would be best if you consider getting a new credit card that will relieve you from paying for foreign transaction fees every time you make a purchase while being abroad. Take the time and make your personal research to choose the best plan depending on your needs.

Get Familiar with Miles and Points

People are usually so keen on the idea of using credit cards because of the many rewards that they can receive when they do their shopping. But one can also apply the concept of points to travelling as well. Nowadays many airlines give you the opportunity to receive “miles” if you use your credit card to buy stuff from their online shopping portals. In that manner, you can even earn points for future travels and with enough gathered you can later convert those points into free flights or perks like access to first class airport lounges or insurances against flight delays and many others. 

Track Down Your Progress

With so many points and miles that are in a constant flow, it may be easy to lose track of what your current situation is. You can battle the eventual chaos by employing some strategies to improve your overall organisation. One possible approach is to create an excel sheet, in which to write down all of the credit cards you are using at the moment plus the rewards you receive from them. In that way, you can get a clearer perspective of what you have or if you can do something better. For example, some credit cards can be combined together for increasing the amount of points earned or you may find out that the credit cards you already use are no longer suitable for your lifestyle, what’s important is to stay informed of what’s going with your finances.

When Travelling by Car

If you are one of those people who are constantly on the move with your vehicle throughout the year, you might want to learn more how to make your trips less expensive in the long run. There are a lot of various opportunities and you even can get yourself a credit card with conditions that give you rewards for every time that you pay for gas. Or in case you are not using your private auto when driving, but you tend to rent vehicles for your travels, then you can review credit plans that let you save on rental car insurance for example. Even though if those costs seem small to you at first, they can quickly add up to a considerable sum after a while and it is definitely worth it to check if you can avoid at least some of them.

Know about Currencies

If you plan to go to a country with currency that is new for you, it is vital that you are familiar with the conversion rates in advance, so you can avoid being unpleasantly surprised later. Finding out how much your money is worth in the other country will allow you to gain a better perspective of your budget for the trip. Also, if you stay in the dark about the local currency, you may end up spending more than you realise or you may fall victim to a fraud. To prepare yourself better, you can exchange in advance the amount of money you will need at a bank or simply withdraw at a local ATM for a fee.

All in all, travelling can be made much less expensive when you follow the right steps and you can save yourself a lot of trouble in the future. When you invest just some time learning more about the possible benefits you can take advantage of, you may soon find yourself making that trip you longed for so long. 

Categories
Debt

Tips for Getting Out of Debt

Nowadays an increasing number of people are relying on using credit cards for their everyday expenses, such as groceries or filling up the tank. Unfortunately, being financially responsible is not always such an easy thing to do and many gather huge amount of debt before even realising it. If you ever find yourself in such a situation, do not be quick to despair, it is not the end of the world after all. What you need to do is remain calm and avoid as many financial mistakes as possible in the future. With some effort from your side you can make the process of getting back on your feet much smoother and faster.

Consider Getting a Part-Time Job

In case your salary is not quite enough for your expenses, then you should consider starting a second job in order to earn that extra cash you are always missing to make ends meet. If by any chance there is a holiday period coming by, you can definitely take advantage of that as many businesses need additional part-time workers when festivities are right at the corner. Even if there aren’t many available positions where you live, think if you have any talents that can bring you some additional means. For example you can babysit some evenings, clean houses, do freelancing or sell something created by you such as paintings or other types of art.

Tighten the Budget

One way to get out of debt faster is to reduce your expenses as much as possible. It might be very unpleasant, but you might have to learn to live without some luxuries for the time being such as cable television or eating out, just think about what you can do to survive for a longer periods with less means. Review your habits and hobbies and try to avoid the most consuming ones. Also, a quick idea to gather some additional income is to sell everything that you don’t use. You can start by making a list of the things you own, but don’t need. Create a reasonable plan that you can stick to and if you keep your own rules, your situation is to improve in time for sure.

Review Your Credit Card Plan

For a lot of people one of the main factors that lead to a bad financial situation are the interest rates they are paying monthly. When you struggle to cover your credit card interest rates every time you receive a bill, then it is only reasonable to see if it is possible to ask for more suitable interest rates from the issuer. If you happen to have a good credit rating, you may have very good chances in securing at least a few percents shrinkage in the interest rates you’re paying, which in turn can make a huge difference for your finances. In case you have to take care of various payments, prioritise those which are fixed every month or those with the highest interest rates. Once you’ve gotten rid of one card debt you can start with the next one.

Try the Snowball Method

A popular strategy one can employ when dealing with debt is the so called Snowball Method. As a lot of people can agree, the hardest part of turning your life around is to start from somewhere. Often the fear of failure stops us from taking action at all and that’s why sometimes it is better to take care of the bills that are smaller in order to gain the confidence needed to battle with the more serious ones.

Being in debt definitely is not pretty but sometimes it is unavoidable and nothing to be ashamed of. Whether your debt is gathered due to credit card misuse or student loans, what you need to remember is that there is always a way to get out and start clean eventually. The sooner you start to look for ways in which to improve, the easier it will be for you in the long run. However, do not despair if things do not always go according to plan and when you face a setback, do not allow it to stop you from your goal. Most important of all when dealing with debt is to be consistent and stick to your regime.