5 financial must-dos before you travel

Your flights are booked and… bam! You’re on a plane heading overseas and it feels like you’ve barely blinked an eye. You’re pretty sure you have enough money to get through the trip – you’ve got a credit card and they’re accepted everywhere, right?

If life is throwing you curve balls but you’re heading overseas soon, here are a few simple things you can do to save money, time and hassle while you’re away… and avoid any awkward moments when you’re reaching for the bill and realise you might not have enough to cover it!

  1. Backpacking or penthouse suites?

The beauty of travel sites like Lonely Planet is that they can show you how far you can stretch your budget before you even get on the plane. Think accommodation, food, sightseeing and transport… even tipping! And love a good night’s sleep but don’t want to pay top dollar? Head to review sites like Tripadvisor or Booking.com to compare the best deals.

  1. Spread the word!

Save money while you’re away by putting subscriptions or memberships on hold and tell the banks you have accounts with about your travel plans for extra security. ING DIRECT customers can now easily log their travel dates and destinations via the settings function in their iPhone or Android app! And to make sure you don’t come home to overdue fees, set up direct debits for any bills that might pop up while you’re away.

  1. Know your Yen from your Rupiah.

Feel like you’re learning a new language when figuring out a currency conversion? Try to work out an easy comparison between the currency you’ll need and the Aussie dollar, using a currency converter like OzForex Limited. For example, 1,000 Japanese Yen is around $12 Aussie dollars but 1,000 Indonesian Rupiah is around 10 Aussie cents. It’s not perfect, but it can provide an easy and WiFi-free understanding of the kind of money you’re about to spend. And don’t forget to compare fees and charges from different currency exchange providers early to secure the best deal!

  1. Prepare for pesky surprises!

No matter how well you plan, it’s always good to have something extra in your back pocket just in case. Find travel insurance that suits you and if you think your savings will only cover the basic expenses of the trip, look into securing a credit card or increasing your limit for emergencies. And don’t forget to check the expiry dates on your credit or debit cards and passport to make sure they’ll last until you’re back on home soil.

  1. Explore like a local.

Data roaming can be expensive, so try to secure a local sim card or mobile WiFi before you fly for easy and cheap internet access. Do some research into how you plan to pay for things, whether it’s cash, card or travellers’ cheque, to give yourself time to coordinate before you leave. And be sure to get enough local currency for an initial transfer and a hotel deposit, so you can avoid ATM fees at the airport!    

Whether you like to plan every detail or see where the wind takes you, being financially ready before any overseas trip can save you a whole lot of money and hassle down the track. Plus, if you’re an ING DIRECT customer with an Orange Everyday bank account, you can use your VISA Debit card anywhere that VISA is accepted with a fee of only 2.5% of the transaction amount for international purchases and a $2.50 fee for each overseas cash withdrawal.

For more information about Orange Everyday fees and charges when you’re travelling, visit us here.

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