Planning for Travel: Pre-Trip Savings Tips from RBFCU Investments Group

Whether you want to take a dream trip around the world or simply want to visit your cousin in Indianapolis for a few days, you can benefit from some pre-trip planning. If you plan far enough in advance of your departure, you’ll usually get better rates on airline fares, lodging, and packages than if you wait until the last minute, particularly if your travel plans are flexible. If you’re traveling to a foreign country, you may need time to obtain a passport or a visa or to research your itinerary. In addition, you’ll reduce the inevitable stress that accompanies traveling by preparing yourself as thoroughly as possible.

One thing that you may want to consider is preparing a daily budget. Have you ever returned from a trip happy because you spent less than you anticipated? If you’re like most travelers, the answer is no. You usually return from trips feeling overextended or even guilty because you spent more money than you wanted. You can avoid this by planning a daily budget before you leave on your trip. This can mean simply deciding how much you want to spend each day, or it can mean breaking down how much you want to spend on certain items on your trip.

Budgeting is particularly important if you are traveling overseas. You may underestimate how much you will spend overseas because food, gas, and other items often cost more than you are used to paying in the United States. If you’re on a group tour or have purchased an all-inclusive package, you may be better protected than someone traveling solo. However, you need to make sure you understand what your tour or package covers and what it does not. In addition, it’s a good idea to use a guidebook as a reference, or talk to a travel agent about how much you can expect to spend for necessary items overseas. This will ensure that you aren’t skipping meals or running up huge debts on your credit card that you didn’t anticipate.

Trip Savings Tip provided by RBFCU Investments Group: If you believe a great trip is a spontaneous one, look into last-minute travel deals offered by some airlines, travel agents, and travel websites. Although your choice of destinations may be limited, these last-minute trips are often a bargain, because airlines, hotels, and tour groups are trying to sell their unreserved spaces.

Plan for tomorrow. See a financial professional today.

RBFCU Investments Group LLC is a wholly-owned subsidiary of RBFCU Services LLC. RBFCU Services LLC is affiliated with Randolph-Brooks Federal Credit Union (RBFCU). Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA / SIPC, a registered broker/dealer and investment professional. CBSI is under contract with the financial institution to make securities available to members. Not NCUA/NCUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. Not a deposit of any financial institution. FR-2993788.1-0320-0422

Article prepared by Broadridge Investor Communication Solutions, Inc. Copyright 2018; February 07, 2018