Before travelling, what financial tips or words of advice would have been useful to you? Would you have appreciated an online resource which outlined any potential pitfalls to be wary of?
I am working on behalf of an impartial financial advice service and I need your help if possible.
We are currently looking to develop a travel section within the site whereby we offer advice on financial matters when abroad, such as credit cards charges, insurance, cheapest ways to travel,accommodation tips and much more.
In order to make this section a success we would love to know what kind of financial travel information you would value.
Any suggestions you may have would be greatly apperciated.
Thanks!
Reply to this Hello Stefan 😊
Maybe a list of medical services, dental care, cosmetic surgery costs, for the various countries. A lot of people these days travel to get these things done less expensively than in their own countries.
It would also be useful, if there is some information about the medical services reputation, as well as their costs.
Crafts and materials are also worth knowing the cost of.
Jewellery, carpets... : Some would appreciate guidance about what they should pay for these things, in the various countries.
Mel
Reply to this Mel has some good ideas, I live in Costa Rica and medical tourism here is big. Usually cosmetic and dental as far as I can see. Costs are far less than in many countries.
I myself had a medical emergency not too long ago, after chest x-rays, ultra sound, and cat-scan the grand total was only about $300 (no insurance) and this was state of the art facilities and the best doctors in the country.
In many countries it would be very nice to compile information about indigenous people and how best to visit them. In Costa Rica we still have many tribes including the Bri Bri, Cabécares, Borucas, Guayami, Huetares, Malekus, Chorotegas and Térrabas indians. The Bri Bri is the largest and welcome visitors to the village to witness some of the arts and crafts or the Boruca and unique festivals like the Fiesta de los Diablitos in December.
Reply to this Thanks guys, this is really valuable input and also really interesting to learn about! 😊
Reply to this I actually just had an interesting tip from my banker when we were casually talking about my upcoming trip the other day. I'm sure he had his own agenda, but it still makes a lot of sense for me and would for others on a RTW trip.
I had a pretty regular chequing account that had been amassing a significant sum of money for a 9 month trip. So he pointed out to me that their premium chequing account doesn't have any fees if you maintain a balance of $5,000, which I would have until the last month or two of my trip. If you have less than that, it's a $25 per month fee for the account.
So what's the benefit for a traveler? The account offers to waive their flat $5 fee on all international ATM withdrawls. So if you take out money from an ATM when traveling, you just pay the local fee and exchange, and don't get hit again back at home. Over a period of several months on a RTW trip, the savings can be significant. Especially if you're balance is over their minimum so you're not even paying the fees for the account. Also, the account offers free traveler's cheques, if that's something you want.
So it might be good to look into the different kinds of accounts your bank offers to see if you can save on any international fees like that before you leave. I'm not sure if I'm allowed to say the name of my bank on this forum, so I'll just say that I live in Canada. I'm sure most banks would have similar styled accounts.
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