Dreaming of a getaway but worried about the financial strain? You're not alone. Many would-be travelers assume that a tight budget means no vacation, but that's not necessarily true. With some clever planning and strategic use of resources, you can enjoy a memorable holiday without draining your bank account.
An astonishing 3.5 trillion frequent flyer miles are sitting unused among approximately 100 million program members, according to a report by WebFlyer. These miles are a treasure trove for cost-conscious travelers. However, keeping track of them can be daunting, leading to wasted opportunities for savings.
To avoid losing out on these benefits, consider using online tools like Mile Blaster and Award Wallet. These platforms help you track your miles, alert you to expiration dates, and even find bonus mile opportunities. While some services may charge a fee, others are available at no cost. They can be particularly useful for calculating trip mileage and ensuring you're maximizing your rewards.
In the event of an airline bankruptcy, there's a safety net. Most airlines have partnerships that allow you to transfer miles to other carriers, offering some protection for your accumulated miles.
Travel insurance is an essential tool for protecting your investment in your trip. It can cover a range of unforeseen events, from trip cancellations to medical emergencies and lost luggage. In some cases, it can even reimburse you if your travel operator goes bankrupt.
Compare Offers: Don't settle for the first option. Shop around for the best deal, which is often found through third-party insurers rather than tour operators or travel agents.
Understand Coverage: Clarify what the plan includes. Inquire about restrictions, covered disasters, and medical emergency provisions.
Cancellation Waivers: Be cautious of cancellation waivers offered by tour operators. They often come with limitations and may not offer the flexibility you expect.
Claim Process: Know how to activate your plan and claim reimbursements.
Natural Disasters: If a natural disaster or other uncontrollable event cancels your trip, you may receive a refund without needing additional insurance.
Health Insurance Check: Verify your domestic health insurance coverage for overseas medical emergencies.
In some scenarios, such as widespread natural disasters or other significant events that force trip cancellations, travel providers may issue refunds without the need for travel insurance.
By effectively managing frequent flyer miles and making informed travel insurance choices, you can embark on your next adventure with confidence and extra cash to spare. Remember, a well-planned vacation doesn't have to come with a hefty price tag.
Choosing The Right Retirement Plan For Your Business
Business owners and homeowners generally have to settle for less if they want to sell their business or a home in a timely fashion. That’s why it’s a good idea to put your earnings to work by setting some aside into a retirement plan.
Loaning Money To Family And Friends
If your friend or relative doesn’t pay you back, you could potentially receive a tax deduction and write it off as a non-business bad debt. However, you must document the loan properly by showing the IRS that it was a loan, not a gift.
Should You Refinance Your Mortgage?
With the low rates available, it is very tempting to refinance your mortgage over and over again. You really should think about how many times you want to refinance your mortgage!
