Escaping Australia's winter for a warmer destination?
Smart move.
Now let me help you pack (some fin knowledge and tips) for your next holiday!
1. Create a spending plan
2. Travel Insurance
3. Bank debit card, currency, travel cards (money while you’re away)
4. Emergency reserve
If you’re like me, holidays are a time to relax, which often results in my conscious-spending brain also taking a break. Setting a daily limit on spending while away can help combat overspending. If you spend too much on one day, it needs to come off the next day’s allowance.
Create a plan for food and drinks, and activities. Pre-booking tours allow you to get the dates you need & also can be more cost effective.
In a post-Covid world, I wouldn’t be without travel insurance.
My flight home from my holiday to the Philippines got cancelled a few weeks ago, so I needed to spend $1,597 on a flight home.
Luckily $1,500 was covered by insurance. That's why I'm still smiling in this picture!
Check the PDS to see what is covered – for eg. Our trip included going on a 3-day boating expedition and the Flight Centre policy excluded boats, so I had to find another cover. I used one offered through an Aust airline for a similar cost but had better cover for my needs.
Check to see if it covers health care, if this is important for you.
Here’s the 3 basic options:
(i) convert physical currency. It’s always good to have some paper $$$ for places that don’t have electronic facilities.
(ii) Travel cards allow you to lock in an exchange rate and tend to have lower fees; you can also load multiple currencies on the card.
(iii) Use your credit or debit card – you’ll be subjected to fluctuations in exchange rates as well as incur international transaction costs on each transaction.
Emergency reserve of cash or access to credit –things can go wrong so you want to be able to access funds if needed. Money gives you choices.
Notify your bank before you travel – do this easily via your banking app. That way, your bank won't think your spending is suspicious transactions.
Hop onto Smart Traveller government website
https://buff.ly/2k9xCj9 for more tips specific to your destination.
By following these financial tips before you go traveling, you'll set the stage for a stress-free and enjoyable adventure.
Proper planning will not only help you make the most of your trip but also ensure you return home with fun memories rather than financial burdens.
Bon voyage!
Warmest,
Many women leave controlling relationships with little understanding of their finances, not because they are incapable, but because they were excluded from financial decisions or subjected to financial abuse. Rebuilding financial confidence starts with recognising that this is not a personal failure, gathering important financial information, learning basic money concepts one step at a time, taking small practical actions such as reviewing accounts and tracking expenses, understanding the true cost of living, seeking support from trusted professionals, and replacing self-doubt with empowering beliefs. Financial confidence is built through knowledge, action, and self-compassion, allowing women to regain control of their money, make informed decisions, and confidently create a more secure future.
Read MoreThe Medicare Levy Surcharge (MLS) is an additional tax for higher-income Australians who do not have eligible private hospital cover, making private health insurance a worthwhile financial consideration for many. For the 2026–27 financial year, individuals earning over $105,000 and families earning over $210,000 may pay an MLS of 1% to 1.5% of their income, in addition to the standard Medicare levy. While private health cover can sometimes cost less than the surcharge itself, the decision should also consider factors such as policy benefits, excess, Lifetime Health Cover (LHC) loading, and personal healthcare needs. As income increases, private health insurance becomes not only a health decision but also an important tax and cashflow planning consideration.
Read MoreMany of our most important money habits aren’t learned in school—they’re shaped at home, often through the quiet influence of parents, especially mothers. Through everyday conversations, behaviours, and life experiences, children develop their understanding of money early on, including how to spend, save, and make financial decisions. This article highlights essential lessons such as spending less than you earn, saving consistently, understanding needs versus wants, and making calm, thoughtful decisions. More importantly, it emphasizes that money is a tool—not a measure of self-worth—and that teaching these habits isn’t about perfection, but about consistency, awareness, and leading by example to build confidence, responsibility, and long-term financial independence.
Read More
