Planning Annual Abroad Trip

Plan Annual Broad Trip

Planning abroad trip is high on the bucket list of many families. People love to explore new countries, its places of heritage, their food, culture and traditions. Travelling abroad is quite different to travelling in your country. It requires advance planning and a bit of research. So if you too are planning an abroad trip, here is how you can do it.

When planning to travel abroad decide your destination, travel dates and number of days and whether you can travel budget or luxury. Check the best time to visit the place you wish to go make the best of your vacation. Get your passport ready as it can take a couple of weeks to receive one from the time of application. If you already have one check its expiration date.

Budgeting is very important while travelling abroad. To save for your trip it is recommended that you start saving a fixed amount every month. The savings for travel fund should obviously be after taking into account the important expenses of the house. This amount can be parked in ultra-short term, short-term or other debt liquid fund. You will need to start saving at least 6-12 months in advance, depending on the location. Your choice of destination will play a vital part in deciding your budget. A trip to Bali for example will definitely cost less than say, a trip to London.

Funding your trip with debt would be an unwise idea as the interest rates will be very high. It is also not clever to use up your retirement or other such savings kept for future for vacation purposes. Also avoid overspending on credit card while travelling.

Keep your eyes open for any great deal on air tickets and/or accommodation as it forms a large part of your travel expenses. You should avoid last minute bookings as the rates might soar. Besides this, the other important things you need to budget for are meals, local transportation, shopping, attractions and visa.

If you are planning annual vacations abroad, you can join membership of a travel company that will provide you various offers and benefits on your travel. Travel companies will offer you plans based on your budget and provide easy payment option for membership fees. They will also take care of your bookings and plan personalized experiences for you.

Things can go wrong when travelling. There are high expenses involved and you are in unknown land with people you don’t know. Therefore, it will be smart to invest in travel insurance. Travel insurance will protect you against flight delay or cancellation, missed flight, lost baggage or travel documents, medical emergencies, etc. Your current medical insurance may not work overseas, so travel insurance will come in handy.

Rohit Grover
Rohit is a senior certified financial planner at He is part of Moneyfrog’s research team and keeps track on the fund movement & the market.
He is an expert with numbers. Formulas & analytics.

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