{"id":1063,"date":"2023-07-31T08:30:46","date_gmt":"2023-07-31T07:30:46","guid":{"rendered":"https:\/\/www.redstareducation.co.uk\/blog\/?p=1063"},"modified":"2023-03-12T10:47:08","modified_gmt":"2023-03-12T10:47:08","slug":"organising-your-finances-for-travelling","status":"publish","type":"post","link":"https:\/\/www.redstareducation.co.uk\/blog\/organising-your-finances-for-travelling\/","title":{"rendered":"Organising Your Finances for Travelling"},"content":{"rendered":"

Going travelling or on an extended holiday? Then you might find this guide helpful\u2026<\/p>\n

Avoid Banking Fees<\/h2>\n

You may want to consider opening a bank account with low or no international fees, such as Starling. This means you can take money out abroad without it breaking your bank balance!<\/p>\n

This is particularly important when travelling for extended periods, as it means you don\u2019t have to take out all the money you\u2019ll need beforehand and so don\u2019t risk travelling with lots of cash!<\/p>\n

You should also let your bank know in advance that you will be travelling to avoid having your card blocked due to suspicious activity.<\/p>\n

Set a Budget<\/h2>\n

Yes, I know, we love to bring up budgeting\u2026 but it is very important! When travelling, you may wish to consider setting up a weekly budget<\/a> so that you don\u2019t run out of money towards the end.<\/p>\n

Make sure you have more than enough money to travel and leave a safety net amount of money in case of any unexpected expenses.<\/p>\n

Leave Money for Subscriptions<\/h2>\n

If you have any subscriptions that will continue to come out of your account, such as your mobile phone bill, make sure you leave enough money for it at all times. You don\u2019t want to return home to a diminished credit score after all!<\/p>\n

Car Insurance<\/h2>\n

You should also ensure there\u2019s enough money in your account to cover your car insurance if this will automatically renew whilst you\u2019re away.<\/p>\n

It\u2019s important to remember here that you must have car insurance if you own a vehicle, regardless of whether it\u2019s parked on the road or not.<\/p>\n

If you\u2019re going away for a long time, you may wish to reduce your level of cover, seeing as though you won\u2019t be driving the car. If you have fully comprehensive insurance that is due to automatically renew when you\u2019re away, you may want to consider moving to a policy which only covers Third Party or Third Party Fire and Theft.<\/p>\n

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Travel Insurance<\/h2>\n

Whilst on the topic of insurance, we must discuss travel insurance. Travel insurance is particularly important when going away for long periods of time. Here are some things travel insurance may cover:<\/p>\n