What's Your Travel Budget for the New Year?

One of the best ways to kick off the new year is to take a realistic look at your personal financial situation for the next twelve months. I've spent a good portion of the morning doing just that -- online banking, bill payment and account transfers. It can be a grueling task at times, but is an absolutely essential step. Take an honest look at where things stand -- this includes assessing your travel budget for 2006. What does yours look like? Whether you are planning to take one short trip this year or are embarking on a long-term journey (like my upcoming European adventure), take some time this week to review your travel finances and set reasonable goals for the coming year. As I prepare to leave the States for at least five months, there are tons of little details regarding my personal finances that need to organized -- I want all my banking to be easily accessible online, I need to activate electronic bill payment so that thing will automatically be paid while I'm traveling, and I need to make sure I choose the right methods for purchases while abroad. I'm happy to know that at least I seem to have the best credit card for overseas purchases. As I was reading through financial tips and suggestions this morning, I came across this Consumer Reports travel alert, which shares important info regarding the use of credit cards when traveling internationally. I've heard that my Capital One account is one of the only ones around that does not charge transaction fees, but of course that's on the list of things to do this week too -- call them and double check their current policies. Which reminds me of another call I've got to make -- to the cell phone company, to ensure that my calling plan is cancelled at the right time and with no hidden fees. The list goes on and on...No matter how big or small your travel plans are for the coming year, take some time this week or this month to study up so you won't be caught by surprise...and enjoy saving for that next trip on your travel to-do list with financial peace of mind.

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