Essential Travel Tips for your Money

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!


Karen Eley is a financial coach with more than 20 years’ experience as a financial adviser. Through her business, Women Talking Finance, she helps women to be confident and knowledgeable about all things finance. Karen translates complex financial concepts into simple digestible ideas.

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