Learn From My Travel Mistakes

The first time Tom and I went to Europe, we left our sons $140 and told them to eat out of the fridge and pantry. We did remember to notify the Credit Union that we were traveling, but we made one big mistake: we did not bring Euros with us.

We assumed we could simply use an ATM when we arrived. Unfortunately, our bank ATM cards did not have chips, and at the time many European ATMs required chip cards. We could have used our credit cards for a cash advance, except for one small problem: we had never set up PIN numbers because we had never used the cash advance feature before.

So there we were, standing in Europe with very little cash access.

In desperation, I texted our 19-year-old son and asked him to call the Credit Union for us. A few minutes later he texted back: “Wow Mom, the Credit Union won’t talk to me about your account. Good luck living on $10 a day.”

Lesson learned.

Always have a backup plan. And perhaps leave the people who may someday be taking care of you in old age a little more than $10 a day.

Travel is supposed to reduce stress, not create it. Over the years, I’ve learned that financially organized travelers tend to do a few things before they leave town:

• Carry more than one credit card

• Keep backup cards in a separate location

• Bring a small amount of local currency

• Know your PIN numbers

• Avoid relying entirely on your phone

• Keep copies of passports and important contacts

• Let a trusted family member know how to reach your advisors in an emergency

• Keep copies of hotel reservations, airline bookings and medical insurance cards

• Bring copies of your flight information, your health insurance cards and any extra travel insurance.

International travel also creates opportunities for scams and fraud. Be cautious using public Wi-Fi, avoid clicking suspicious “travel alert” texts, and remember that fake booking and airline scams have become increasingly sophisticated.

One final thought: vacations are a good reminder that much of financial planning is not just about investments. It is about making life easier, safer, and less stressful for the people you love, whether you are at home or standing in a European train station wondering how far $10 a day will really go.