Budgeting For Surprises: Summer Travel Tips

by | Jul 19, 2023 | articles

Budgeting For Surprises: Summer Travel Tips

Presented by Sterling Total Wealth Solutions
July 19, 2023

Now that summer is in full swing, it’s the perfect time to take a trip. But sometimes, even your best-laid plans go a little off-kilter.

Here are a few of the most common travel issues and how to make sure that no matter what happens, you’re prepared to weather any bumps on the road.

  • Baggage Fees: Many airlines charge additional fees for checked baggage. Researching airline policies in advance can help you prepare accordingly. Plus, if you plan on bringing back souvenirs from your trip, you won’t be surprised about any extra fees at the airport.
  • Travel Delays and Rebooking: Travel delays are an unfortunate reality, but they don’t have to derail your vacation. Set aside a portion of your budget to cover potential expenses due to travel delays, like flight rebooking fees or to cover a flat tire.
  • Accommodation Incidentals: When booking accommodations, it’s important to consider any additional charges that might arise during your stay. Some hotels may have resort fees, parking fees, or charges for amenities such as Wi-Fi or gym access. Researching these potential incidentals beforehand allows you to budget accordingly and avoid any surprises at check-out.
  • Local Transportation Costs: Getting around your destination can sometimes incur unexpected expenses. Whether it’s public transportation fares, taxi fees, or rideshare charges, it’s wise to estimate and include these costs in your travel budget. Planning ahead ensures that you have adequate funds set aside for convenient and hassle-free transportation during your trip.

Travel insurance may be worth considering, but always read your policy carefully to see what’s covered. Another great tip is to set aside one-third of your travel budget for unexpected expenses. That way, should the unforeseeable happen, you’re prepared and can return to your vacation with minimal stress..

Have a fabulous summer, and we can’t wait to hear about your travels.

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To learn more about Sterling Total Wealth Solutions, visit us on the web at www.sterlingtotalwealthsolutions.com

The content is developed from sources believed to be providing accurate information. The information in this material is not intended as tax or legal advice. It may not be used for the purpose of avoiding any federal tax penalties. Please consult legal or tax professionals for specific information regarding your individual situation. This material was developed and produced by FMG Suite to provide information on a topic that may be of interest. FMG, LLC, is not affiliated with the named broker-dealer, state- or SEC-registered investment advisory firm. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security. Copyright 2023 FMG Suite.