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10 Travel Expenses You Should Not Forget To Budget For

10 Travel Expenses You Should Not Forget To Budget For

When you are travelling this summer, sticker shock certainly sets in regardless of the mode of transportation. From gas prices currently in jeopardy of increasing to higher airline fees, you’ll feel the pinch some where. However, what doesn’t help out is that these upfront fees don’t take into consideration the hidden and unexpected costs that come with your trip, domestic or international. Today, we will take a look at 10 travel expenses that you should remember to take into account when planning your travel budget for the summer travel season. We will also factor in some ways you can save on these unexpected costs.

1. Departure Taxes

Departure fees are easy for many individuals to forget including in their travel budget. For many countries, these are fees that are included and unchangeable in your airport ticket. However, for other countries, for example Argentina and Costa Rica, in some cases you’ll have to pay the departure fees the airport. While small for a majority of countries, hovering around $20 – $50, other countries charge a lot more. To stay up-to-date on departure fees from the United States, checkout this website by the US Department of State. Simply search the country and click “Entry, Exit, & Visa Requirements”.

2. Card Fees and Currency Exchange

When traveling abroad, you are likely to encounter foreign transaction fees from your credit card company. You may even find that such a fee is even imposed on debit cards as well. Before you depart, it is always important for you to call your credit card company to allow them to be informed that you will be out of the country.

Credit and debit cards don’t have GPS chips and they are unable to know if you croissant purchase in Paris is your summer vacation or credit card theft. When you call, ask what the foreign transaction fees are.

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Secondly, even when paying cash, ensure that you have a handy currency exchange app on your phone to ensure that you are truly paying a good price for all goods purchased abroad. XE Currency is a great currency conversion app that is updated daily whenever you connect to the Internet.

3. Meals During Travel

Eating is an obvious aspect of your travel budget. However, one addition to your budget that you might not always consider is eating while arriving and departing from your destination. These are costs that add up, especially if you encounter delays or layovers. If you are a family of four, you’ll find that this is a fee you can’t simply hope will organize itself. In an airport, food costs are astronomical.

To alleviate this cost, bring food from home to nosh on during your arrival, and make a short trip to the grocery store in your location you are visiting before heading back home. If you encounter a significant delay, get in touch with your airline for a meal voucher, they are almost always offered when asked in such situations. They want to keep your business, in the end.

4. Cellular Provider Fees

From keeping in contact with your family back home to sharing your vacation adventures on social media, voice and data costs are an aspect of your budget to consider when abroad this summer. Without intervention, your GSM (AT&T and T-Mobile) smartphone will simply connect to the local international provider in the area and you’ll find yourself charged huge fees.

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Before leaving, inform your cellular provider of your travel plans, ask for possible international plan discounts, and if such discounts aren’t available, look into getting an international pay-as-you-go phone while there. WIFI is a great alternative as well, making use of Skype for calling back home. Some Internet cafes and hotels charge to use their WIFI, but this fee is exceedingly cheaper than paying cellular fees.

5. Emergency Expenses

It can be easy to think that the most stressful part of your trip is the flight there and back. However, if you encounter an emergency, you’ll find that the flight was only a breeze. Being on vacation, you find yourself doing more strenuous activities that you don’t normally do every day (from hiking to scuba diving, etc).

This presents itself with unexpected risks of injury. If you find yourself with a major injury, your insurance could help out. However, other emergencies and injuries may require digging into your own pocket for associated fees (sprains, cuts, bruises, etc). Due to how this is an expense that not everyone encounters, look into setting aside your credit card for these expenses, instead of setting aside a specific amount of cash.

6. Visa Costs

Along with departure fees, you’ll possibly find yourself encountering visa fees that depend on the duration of your time in a certain country. Ensure that you have these fees set aside and paid for if you are having an extended trip. In addition, if you find that you have to go to a local embassy to handle these tasks, make sure you factor transportation costs for getting to and from there. A friend of mine currently visiting China had to make three embassy visits before receiving her visa. Sadly, we can’t put a price tag on the stress that task brings on!

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7. Travel Insurance

Regardless of if you are backpacking through Europe or becoming a beach bum this summer, travel insurance is a must for individuals going abroad. You’ll find that purchasing travel insurance through providers like World Nomads offers you not only medical protection, but also assistance for trip cancellations, assistance, interruptions, and delays. In most cases, travel insurance cost under $100 and can protect you with thousands of dollars in coverage.

8. Spontaneous Adventures

If this is your first time abroad, you’ll want to make sure that you have the time of your life. If you are in a country during a national holiday or celebration, you’ll find that activities and adventures appear out of no-where and can be once in a lifetime for you to celebrate in. Make sure to have a form of payment planned for these spontaneous adventures, either in cash with your budget or with your card. You’ll thank yourself in the end.

9. Flight and Baggage Fees

A common occurrence for travellers is that they encounter an amazing deal on a plane ticket, only to find that they are hit with baggage fees. Always ensure that you look at your airlines website before packing, not departure, to see the hidden baggage fees assessed by your airline. If you do this before packing, you can pack accordingly. Having a price tag attached to your overpacking will cause you to pack smartly, not impulsively.

Other flight fees that you might unexpectedly encounter are WIFI costs and food/beverage purchases. Contact your airline before departure to see if WIFI is available on-board and for how much. If it’s a short haul (< 2.5 hour flight), WIFI might not be a necessary cost.

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10. Lodging Fees

Finally, when travelling anywhere, fees associated with lodging can be unexpected for many travellers. Ensure that you have a clear outline of how much you have to pay for lodging. Internet fees, room service costs, open bar, and room service tips are costs that travelers find that they usually ignore when travelling. Make sure you include these possible costs in your budget to prevent sticker shock at the end of your vacation.

By including these fees in your travel budget, you’ll find that you are better prepared for any fees that come along the way. Not only can you combat them, you can save money along the way. Let us know in the comments below how you are saving money this travel season.

Featured photo credit: http://hawaiidads.com/wp-content/uploads/2013/12/family-travel-1.jpg via Hawaii Dads

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Published on November 8, 2018

How to Answer the Tough Question: What are Your Salary Requirements?

How to Answer the Tough Question: What are Your Salary Requirements?

After a few months of hard work and dozens of phone calls later, you finally land a job opportunity.

But then, you’re asked about your salary requirements and your mind goes blank. So, you offer a lower salary believing this will increase your odds at getting hired.

Unfortunately, this is the wrong approach.

Your salary requirements can make or break your odds at getting hired. But only if you’re not prepared.

Ask for a salary too high with no room for negotiation and your potential employer will not be able to afford you. Aim too low and employers will perceive as you offering low value. The trick is to aim as high as possible while keeping both parties feel happy.

Of course, you can’t command a high price without bringing value.

The good news is that learning how to be a high-value employee is possible. You have to work on the right tasks to grow in the right areas. Here are a few tactics to negotiate your salary requirements with confidence.

1. Hack time to accomplish more than most

Do you want to get paid well for your hard work? Of course you do. I hate to break it to you, but so do most people.

With so much competition, this won’t be an easy task to achieve. That’s why you need to become a pro at time management.

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Do you know how much free time you have? Not the free time during your lunch break or after you’ve finished working at your day job. Rather, the free time when you’re looking at your phone or watching your favorite TV show.

Data from 2017 shows that Americans spend roughly 3 hours watching TV. This is time poorly spent if you’re not happy with your current lifestyle. Instead, focus on working on your goals whenever you have free time.

For example, if your commute to/from work is 1 hour, listen to an educational Podcast. If your lunch break is 30 minutes, read for 10 to 15 minutes. And if you have a busy life with only 30–60 minutes to spare after work, use this time to work on your personal goals.

Create a morning routine that will set you up for success every day. Start waking up 1 to 2 hours earlier to have more time to work on your most important tasks. Use tools like ATracker to break down which activities you’re spending the most time in.

It won’t be easy to analyze your entire day, so set boundaries. For example, if you have 4 hours of free time each day, spend at least 2 of these hours working on important tasks.

2. Set your own boundaries

Having a successful career isn’t always about the money. According to Gallup, about 70% of employees aren’t satisfied with their current jobs.[1]

Earning more money isn’t a bad thing, but choosing a higher salary over the traits that are the most important to you is. For example, if you enjoy spending time with your family, reject job offers requiring a lot of travel.

Here are some important traits to consider:

  • Work and life balance – The last thing you’d want is a job that forces you to work 60+ hours each week. Unless this is the type of environment you’d want. Understand how your potential employer emphasizes work/life balance.
  • Self-development opportunities – Having the option to grow within your company is important. Once you learn how to do your tasks well, you’ll start becoming less engaged. Choose a company that encourages employee growth.
  • Company culture – The stereotypical cubicle job where one feels miserable doesn’t have to be your fate. Not all companies are equal in culture. Take, for example, Google, who invests heavily in keeping their employees happy.[2]

These are some of the most important traits to look for in a company, but there are others. Make it your mission to rank which traits are important to you. This way you’ll stop applying to the wrong companies and stay focused on what matters to you more.

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3. Continuously invest in yourself

Investing in yourself is the best investment you can make. Cliche I know, but true nonetheless.

You’ll grow as a person and gain confidence with the value you’ll be able to bring to others. Investing in yourself doesn’t have to be expensive. For example, you can read books to expand your knowledge in different fields.

Don’t get stuck into the habit of reading without a purpose. Instead, choose books that will help you expand in a field you’re looking to grow. At the same time, don’t limit yourself to reading books in one subject–create a healthy balance.

Podcasts are also a great medium to learn new subjects from experts in different fields. The best part is they’re free and you can consume them on your commute to/from work.

Paid education makes sense if you have little to no debt. If you decide to go back to school, be sure to apply for scholarships and grants to have the least amount of debt. Regardless of which route you take to make it a habit to grow every day.

It won’t be easy, but this will work to your advantage. Most people won’t spend most of their free time investing in themselves. This will allow you to grow faster than most, and stand out from your competition.

4. Document the value you bring

Resumes are a common way companies filter employees through the hiring process. Here’s the big secret: It’s not the only way you can showcase your skills.

To request for a higher salary than most, you have to do what most are unwilling to do. Since you’re already investing in yourself, make it a habit to showcase your skills online.

A great way to do this is to create your own website. Pick your first and last name as your domain name. If this domain is already taken, get creative and choose one that makes sense.

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Here are some ideas:

  • joesmith.com
  • joeasmith.com
  • joesmithprojects.com

Nowadays, building a website is easy. Once you have your website setup, begin producing content. For example, if you a developer you can post the applications you’re building.

During your interviews, you’ll have an online reference to showcase your accomplishments. You can use your accomplishments to justify your salary requirements. Since most people don’t do this, you’ll have a higher chance of employers accepting your offer

5. Hide your salary requirements

Avoid giving you salary requirements early in the interview process.

But if you get asked early, deflect this question in a non-defensive manner. Explain to the employer that you’d like to understand your role better first. They’ll most likely agree with you; but if they don’t, give them a range.

The truth is great employers are more concerned about your skills and the value you bring to the company. They understand that a great employee is an investment, able to earn them more than their salary.

Remember that a job interview isn’t only for the employer, it’s also for you. If the employer is more interested in your salary requirements, this may not be a good sign. Use this question to gauge if the company you’re interviewing is worth working for.

6. Do just enough research

Research average salary compensation in your industry, then wing it.

Use tools like Glassdoor to research the average salary compensation for your industry. Then leverage LinkedIn’s company data that’s provided with its Pro membership. You can view a company’s employee growth and the total number of job openings.

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Use this information to make informed decisions when deciding on your salary requirements. But don’t limit yourself to the average salary range. Companies will usually pay you more for the value you have.

Big companies will often pay more than smaller ones.[3] Whatever your desired salary amount is, always ask for a higher amount. Employers will often reject your initial offer. In fact, offer a salary range that’ll give you and your employer enough room to negotiate.

7. Get compensated by your value

Asking for the salary you deserve is an art. On one end, you have to constantly invest in yourself to offer massive value. But this isn’t enough. You also have to become a great negotiator.

Imagine requesting a high salary and because you bring a lot of value, employers are willing to pay you this. Wouldn’t this be amazing?

Most settle for average because they’re not confident with what they have to offer. Most don’t invest in themselves because they’re not dedicated enough. But not you.

You know you deserve to get paid well, and you’re willing to put in the work. Yet, you won’t sacrifice your most important values over a higher salary.

The bottom line

You’ve got what it takes to succeed in your career. Invest in yourself, learn how to negotiate, and do research. The next time you’re asked about your salary requirements, you won’t fumble.

You’ll showcase your skills with confidence and get the salary you deserve. What’s holding you back now?

Featured photo credit: LinkedIn Sales Navigator via unsplash.com

Reference

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