If you like to travel and want to save money as you continue to do what you do, you should consider travel packages.

What Are Travel Packages?

Travel packages are bundled travel services that often include airfare, accommodations, ground transportation and sometimes even food. These packages provide you with one low price for everything. They can help you budget and can save you a large amount of money.

Where do You Find Travel Packages?

Travel packages can easily be found online. There are many websites that offer travel packages. Finding the right one can save you a large amount of money.

If you know where you want to go you can do some online searches specifically for travel packages to that destination. For example you can search for the name of the city or country with the words “travel package” or “holiday package” or “vacation package”. You should be able to find websites that offer travel packages to the destination you choose.

Some of the sites to consider include:

• Escapetravel.com.au
• ExploreHolidays.com.au
• Flightcentre.com.au
• Travel.com.au
• TravelPackages.com.au

You can also look on the websites of large hotel chains and airlines. You will often find travel packages on these sites.

When to Buy Travel Packages

If saving money is your primary goal there are two times to buy travel packages – very early or very late. Travel packages bought significantly in advance can save you money. As the date approaches hotels and airlines get closer to filling up and the package price changes accordingly.

Buying very late (right before the trip) is also a time when you can get great deals. Empty seats on airplanes and empty hotel rooms are lost revenue. Last minute packages can often be marked at the lowest price. You have to be willing to take the risk that you will be unable to get a specific hotel or airline if you wait too long.

All Inclusive Deals

There are a number of hotels and resorts that offer all-inclusive pricing. These pricing deals help you travel on a budget since it includes all of your meals, etc. If you are interested in all inclusive deals you will want to make sure you understand what they consider “all inclusive” and whether or not it is what you consider all inclusive as well.

Some of the things to look into include:

• Does the package include 2 or 3 meals per day
• Are all beverages included or are alcoholic beverages separate
• Is ground transportation included
• Are there any fees or taxes

Once you have this information you can determine if any of the all inclusive deals interest you.

The bottom line is there are many ways to save money when you travel including buying travel package deals.

Credit cards are very easy to use and it can be even easier to become addicted to using them.  Before you know it, you’re using your card or cards to buy everything you want.  The problem is, by the time you receive your monthly statements, you may have forgotten exactly how much you spent that month!

So when you open your statement, you may feel sick to your stomach when you see the amount of the closing balance in black and white.  You may ask yourself, “How on earth can it be that much?”  And then when you go down the pages of items purchased, it all comes flooding back to you.

Even if you can afford to pay the minimum repayment amount, that’s not going to do much to clear the balance.  First of all, your payment will go towards that month’s interest charges and anything left over from your repayment will then go towards your balance.  You may be paying off less than two percent of the closing balance!  If you keep using your card, then your credit card balance will be even higher the next month.

If you’ve maxed out your credit cards then applying for a new card isn’t going to solve the problem.  If your application is approved, you will still have to pay at least the minimum monthly payments on your old card or cards.  And if you use your new card, you’ll be racking up even more credit card debt!

So what can you do?

It can be hard to break the grip of credit card addiction, but it can be done.  The simplest way is to cancel your credit card and cut it into tiny pieces.  You’ll still have to pay off your credit card debt, but at least you won’t be able to use the account again.  If you just cut up the card but don’t cancel the account, you can still use it for online shopping if you know your credit card number and expiration date.  And that will just add up to more credit card debt.

If you need to buy anything, use cash instead of plastic.  And try to pay off as much of your credit card balance as you can every month.  That way, you’ll be saving money on interest charges.

If it’s essential for you to have a credit card, then ring up the issuing bank and ask them to lower the limit – that’s if you have any available credit left on your card!  For example, if your limit is $9,000 and you have a closing balance of $7,600 you could ask the bank to lower the limit to $8,000.  And keep doing that each time you pay off another $500 off your card.  It may seem hard to do, but you’re helping yourself from getting into any more credit card debt by employing this tip.

So if you suspect you’re addicted to credit cards, there are things you can do to help yourself financially.  You just have to take a deep breath and do what’s financially responsible.

Whenever you purchase an item in another country, your credit card provider will charge you a foreign transaction fee to cover their costs in converting the foreign currency to Australian dollars.

This fee is typically 1-3 percent of the purchase price, depending on your particular credit card.

The fee may seem very low, but if you bought something that cost $1,000 when converted into Australian currency and your bank charges you a 2 percent foreign transaction fee, that item you purchased will end up costing you $20 extra!

And it’s even worse if you get out a cash advance while in a foreign country.  Not only are you charged the normal cash advance interest rate from the date you take out the cash advance, but you’re also charged anything from $1-10 extra on that transaction.

So what can you do to minimise the foreign transaction fees on your credit card?

Well, if you’re travelling overseas, first of all find out how much you’ll be charged for a foreign currency conversion when you purchase something over there.  If you think the percentage rate is too high, then start shopping around for another credit card before you leave home.

If you browse the credit card market place a few months before your departure, you should be able to find a credit card that will meet your overseas transaction needs.  You’ll still have to pay a foreign currency conversion fee, but at least you’ll know that you’re paying the lowest percentage rate possible on foreign purchases.

If you regularly buy items from overseas, for example through a foreign website, make sure you take the foreign transaction fee into account when making your purchase so you won’t receive an unpleasant surprise when you open your next credit card statement.

One way to avoid paying the foreign transaction fee is to purchase all your items in Australia.  However, you may not be able to find the item you wish to purchase or it may be more expensive purchasing it in Australia than buying it overseas, even when you take the foreign transaction fee into account.

For instance, books can be expensive in Australia compared to the prices in the U.K. and U.S.A.  Often, you can save quite a lot of money by purchasing your books from an online U.K or U.S.A. bookstore, even taking foreign transaction fees into account.

As you can see, if you use your credit card for overseas transactions, you need to be aware of those foreign transaction fees.  But if you can find the time to shop around to get the lowest percentage rate possible on overseas purchases and use your card wisely, you’ll find that you won’t be too out of pocket after all.  And that’s a great goal to aim for when you use your credit card.

A secured credit card requires you to deposit an amount in a special account that’s equal to the limit on the card.  The limit on the card may be very low, e.g. $250 or $500.  That means you’d have to deposit at least $250 for a secured credit card with a $250 limit.

Some banks may even require you to deposit double the amount of the card limit!  That is a way for the bank to safeguard their money as although it’s a secured card, you’ll still be charged interest on your purchases like a regular credit card.

Since people who apply for secured credit cards are deemed a financial risk, the bank needs to do everything they can to minimise the risk to themselves.  That’s why applicants are required to demonstrate that not only can they afford the deposit amount, but that they can also afford to pay the card balance if they actually use the card.

Secured credit cards can be used in the same way as unsecured cards.  So you could use your secured card to pay for purchases, flights, accommodation and anything else you can think of.  But you do have to keep in mind exactly what your credit limit is and how much you’ve already spent that month.  If you accidentally go over your limit, you may be contacted to “please explain” the situation!  You may also be required to pay an over limit fee.  If you’re trying to build your credit history, you definitely don’t want to be in this position!

One way to make a good impression on your credit history file is to pay off your balance in full every month.  It will stand you in good stead when you apply for an unsecured credit card in the future.  The credit card lender will look at your credit history and will be able to see that you’ve managed your credit card repayments without a problem and have been scrupulous in clearing your card balance each month.  This will make them more inclined to approve your application for an unsecured credit card as compared to someone with a secured card who only pays the minimum balance due every month and is slowly reaching the limit on their card.

Secured credit cards can be a good way to build up your credit history, especially after bankruptcy.  However, you do have to be careful in how you use the card so you don’t get into a mess with credit card debt.  If you pay off the balance in full every month you’ll be showing future lenders that you are now a good financial risk and you’ll reap the benefits.

A bank agreement is when you enter into a repayment agreement with the bank that issued you your credit card.  If you just can’t find the money to pay off your debt because of the high interest rate, a bank agreement may have a lower interest rate in return for regular and specified payments.

For example, if your credit card debt is $10,000 and you can only afford the minimum repayment of approximately $258.33 per month your debt may seem never-ending, especially if you’re paying a high rate of interest, such as 19 percent per annum.  If you only paid the minimum amount each month in this example, it would take you 344 months or 28 years to clear your credit card debt and you would end up paying $15,239.60 in interest!

But entering into a bank agreement may lower the interest rate significantly in return for you signing a document that specifies exactly when your weekly, fortnightly or monthly payment is due and for how much.  You may have to also agree not to use that credit card again.  Otherwise, you really will never get rid of your credit card debt!

If you don’t want to enter a bank agreement, what can you do?  For starters, stop using your credit card!  If you have a revolving balance on it every month, then whatever you buy will end up costing you interest, even if you have interest free days on purchases.

Another way to pay off your credit card if you can’t afford to pay more than the minimum payment due each month is to make a commitment to yourself that:

1.  You will stop using your credit card until you have a zero balance.

2. You will keep up the highest minimum monthly repayment, even when your balance falls and the monthly minimum amount due also falls.

For instance, if you’re struggling with credit card debt of $10,000, then your minimum repayment may be about $258.33 as in the example above.  When you start chipping away at your balance and it starts to decrease, your new minimum monthly amount due will also decrease.  But instead of falling into the trap of only repaying the new lower minimum payment due, keep paying the higher amount of $258.33 per month.  If you do this, it will only take you 61 months to pay off your debt instead of 344 months and you’ll “only” be paying $5,607.67 in interest at 19 percent instead of $15,239.60.

A bank agreement can be one way to pay off your credit card debt if you’ve exhausted all other options.  However, if you don’t want to have a bank agreement on your credit history, then ceasing to use your credit card and paying the highest minimum payment until you’ve cleared your balance may be the next best option for you.

Retirees may find credit cards very handy to have tucked away in their purse or wallet.  If they’re a bit short of cash before pension day, they can use their card to pay for groceries or any other necessities they need.  Then, when they receive their monthly statement, they can pay off their card.

Credit cards can be very convenient for grey nomads as well.  Travelling around Australia in a caravan or motor home can be an exciting adventure, but what happens when you need to stop at the next service station in order to fill up the petrol tank and you don’t have enough cash on you?  That’s where your credit card can help you out!  It may be days before you see an ATM, so you can also use your card for food, caravan site fees and anything else you need.

Credit cards can also be handy for older people if they have to go to hospital suddenly and don’t have enough money on them to pay for their stay.  For example, if you experienced chest pains and went to your doctor for advice, you may find yourself bundled off to hospital in an ambulance right away!  If you go to a private hospital, you will most likely have to pay a fee before you can leave.  If you don’t have enough cash in your purse, you can just take out your credit card instead and have peace of mind that you’ve been able to afford to pay for your treatment.

However, it’s important that older people find the right credit card for their circumstances.  This could be anything from a low interest rate card, interest free days on purchases, no annual fee or an extensive frequent flyer rewards program.

If the credit card is mainly used for emergencies though, it may be best to find one that costs you the least to use.  That means one with no annual fee, the lowest interest rate you can find and 55 interest free days as well.

Browsing the credit card market place can be very interesting as there are so many cards to choose from.  However, if you keep the above criteria in mind when choosing a card to apply for, you’re sure to find one that suits your needs.

Many retirees have to be careful with their living expenses, so choosing a credit card that doesn’t cost them anything to own is a sensible option.

Credit cards can be a great option for older people to use in an emergency or when they just don’t have the cash available to pay for something they need right away.  You never know when you’re going to need immediate access to funds, so having a credit card stashed away for those unexpected situations can be very handy.