Imagine this: you’re in a foreign country, a few days before your return flight, running out of money, and with things you still want to do. Without the right financial preparation, this might be the disastrous end of that international trip you’ve been looking forward to.
It’s quite easy to plan for plane tickets, hotel bookings and car rentals but you can only estimate other expenses. Even if you’re taking a travel loan for your trip, it’s a fixed amount, while borrowing more than you need means paying interest on what you don’t use.
Instead, use a personal line of credit available through an app on your phone. Not only will this help you handle unforeseen expenses without any hassles, but you will also be paying interest only on the amount you actually use!
Here are some examples of travel-related expenses which are difficult to put a figure on:
- Transaction Fees & Exchange Rates – Most banks and credit card providers charge for international transactions and cash withdrawals, which can add up quickly. Exchange rates also tend to fluctuate, and you may get less than you expect when you withdraw funds while traveling abroad.
- Tipping & Resort/Facility Fees – Many hotels add mandatory fees to your bill on checkout, so ask about these charges before booking. Another often-overlooked expense is tipping. Some countries don’t have the custom but it’s expected in others, so do some research on the local culture.
- Hidden/Add-On Airline Fees – Read the detailed terms and pay special attention to baggage allowances and additional charges for telephone assistance, rescheduling, and preferred seating. You might want to bring back some gifts and mementos, which will increase your baggage weight.
- Unexpected Transportation Costs – Transportation costs will most likely be much higher than you think they will, no matter how well you plan. Travelers often forget to include tolls, hotel parking fees and tipping cab drivers or valets, which can quickly eat through your budget.
- Departure Taxes & Visa Costs – Some countries charge a departure tax for travelers leaving the country. You might have to pay these in cash at the airport, and even swiping your card can be costly. Check the entry and exit requirements, along with any visa charges at your destination.
- WiFi & Unplanned Flight Meals – Unless WiFi is included in your hotel charges, using the Internet can get expensive. You’ll also want internet access at the airport if you have a long layover or lengthy customs and visa procedures on arrival. Ordering food in-flight and at the airport can be costly as well!
- Spontaneous Adventures – You don’t take international vacations everyday, so it’s only natural to want to do as much as you can. You’re bound to discover something fun that you hadn’t thought of before. Make the most of every opportunity with an app-based instant personal loan online.
- Mobile & Roaming Charges – You’ll be surprised at what international roaming costs. Apps like Skype and WhatsApp can be used with WiFi, but you’ll need to use your phone on the go too. Check with your operator for international roaming packs or budget for a prepaid connection in the country you’re visiting.
A vacation is meant to be relaxing, and running out of money halfway through can ruin it. Instead of missing out on what might be a once-in-a-lifetime opportunity, register on an app that provides a personal line of credit, where interest is only charged on what you use and you can repay this amount with flexible EMIs once you’re back from your travel!