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5 Finance Tips You Must Know Before Going on a Holiday Vacation

The holiday season is just around the corner and we’re all excited to go on a well-deserved Christmas vacation. While planning a trip during this season can be expensive, especially when you’re traveling with the family or with your best friends, there are ways you can enjoy your holiday getaway without worrying about your finances.

 

Here are 5 financial planning tips you must consider before traveling this Christmas season.

1. Set a budget for the entire trip

 

Knowing how much you are willing to spend will help you figure out what you can enjoy during your trip without worrying about unplanned expenses. This will help you plan where to stay, what activities to do, and your transportation costs. There are apps available which can help you plan and monitor your budget. You can use these to track your expenses and help avoid overspending.

2. Open a travel savings account

If you’re planning a trip ahead of time, opening a travel savings account with a high-yielding interest can boost your finances so you can get more out of your trip. You can enjoy seat upgrades on your flights, better room accommodations in hotels, or more budget for activities and shopping!

3. Contact your credit company when going abroad

Make sure you get in touch with your bank before using your credit card overseas. Inform the bank of where you’re planning to go and how long will you stay. This is so they won’t identify your transactions outside the country as suspicious activities and block your card.

4. Automate your bills payment

If you’ll go on a long trip, make sure to automate your bills payment online or via the bank’s mobile app. This will make sure you’ll enjoy your trip to its fullest without worrying about missing a due date or paying overdue fees.

 

5. Get a travel insurance

One of the best things you can do for yourself when going on a trip is getting a travel insurance. This way, you’ll get covered for any emergency situations from medical and unexpected travel expenses like loss of luggage or extreme delay of flights.

Be financially ready for your holiday getaway! Make the most out of your travel funds by opening an account with CIMB Bank and getting up to 8% p.a. interest on your savings.

 

You can start by getting 4% p.a. interest in tw­­o ways: Just maintain a minimum balance of PHP 100,000 or grow your Average Daily Balance by at least PHP 500 every month in your UpSave and/or GSave account. Earn an additional 2% p.a. interest by paying your Personal Loan Installment due or REVI Credit Minimum Amount Due on time.

 

You can also earn additional 2% p.a. by transacting with a minimum of PHP 500 on the all-new CIMB Bank PH app. Average Daily Balances in excess of PHP 200,000 will earn 2.5% p.a. for UpSave and 2.6% p.a. for GSave.

 

Plus, if you maintain a minimum of PHP 5,000 in your account, you are eligible for FREE Life Insurance coverage that’s worth your ADB up to PHP 250,000.

Click the link below to learn how you can earn up to 8% p.a. interest on your savings:

Deposits are insured by PDIC up to P500,000 per depositor.

 

CIMB Bank Philippines, Inc. is regulated by the Bangko Sentral ng Pilipinas as a Commercial Bank. You may contact the BSP Financial Consumer Protection Department at (+632)8708-7087 or consumeraffairs@bsp.gov.ph.