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Not having a travel savings plan -

Spending money first and paying off credit cards later is both expensive and stressful! Formulate a saving plan for your travel fund that works for you

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Ignoring your data plan restrictions -

Using your cell phone abroad can lead to huge charges. Before you go, look into your cell phone provider's international plan. Alternatively, you can also get a prepaid phone when you arrive at your destination.

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Exchanging money at the airport -

The exchange rates at airport kiosks tend to be quite high. It's best to go to a bank ATM as soon as you arrive at the destination to get some local cash. 

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Incurring unnecessary ATM fees -

Your bank can charge you high fees for every ATM withdrawal you make in a foreign country. Try to minimize the number of times you withdraw cash. You can also choose a bank and account type that doesn't charge this fee.

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Carrying only one credit card -

When it comes to technology, you never know when it's going to give you trouble, and this goes for credit cards. Having a back-up is essential.

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Choosing the wrong rewards credit card -

Depending on the credit card, you can earn a lot. It's worth choosing a card that's right for you and that will depend on your lifestyle. 

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Ignoring the need for travel insurance -

You never know what might happen on a trip or if you'll need to pay a visit to the hospital. Having travel insurance could end up saving you a small fortune, so don't travel without it. 

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Forgetting about your bills back home -

If you'll be traveling for weeks, make sure you take care of your bills before you go so you don't get hit with late payment fees. Consider automating your bill payments so you don't have to think about them.

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Not knowing transport options -

Research your transportation options ahead of time. For example, in big cities, you’ll want to avoid cabs and ride-shares that can add up quickly. Public transport can be faster as well as cheaper. 

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Traveling without a plan to find freebies -

There are many ways to enjoy free things as you travel. From free tours to free entrance to museums on specific days, keep an eye out for these before buying a ticket. 

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Traveling without a budget -

This is a common travel money mistake that will leave you behind with your finances, paying for the last trip rather than saving for the next one because you've overspent. 

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Not understanding the exchange rate -

It's easy to look up the exchange rate for your currency online. Then you can easily calculate costs in your head on the go. 

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Not informing your bank and credit card company that you'll be traveling -

Some banks still require this, some don't. To be on the safe side, make sure that your bank and credit card companies know where you're traveling so that they don't block your card. 

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Choosing your home currency at check-out -

When you pay with your card, you'll get the option of paying with your home currency or the local currency. Always choose theirs, as the conversion fee won't be as high. 

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Incurring extra charges for your luggage -

The terms and conditions regarding luggage are made very clear when you purchase your flight tickets. Make sure you're aware of them so you don't get stuck with unexpected fees.

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Using your credit card to get cash -

This one is a big no-no. Credit cards charge high interest rates that start accumulating immediately. When you buy things with a credit card the interest doesn't start accumulating until your next billing cycle.

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Not checking the deals sites -

Check out sites that offer great deals in your travel destination. You can find coupons and special deals to save money on local activities.

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Not researching tipping practices for your destination -

There are countries where tipping is expected and countries where it’s not done at all. Considering that tips are usually in the 15-20% range, not knowing tipping practices can cost you a lot. 

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Neglecting the security of your cash and documents -

Your cash and your documents are important. Always keep in mind a safety hierarchy that starts with yourself, your documents, your cash, and your stuff. 

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Not knowing the hidden fees before you go -

Hotels and airlines are notorious for fees. Keep that in mind when you plan your travel budget in order to avoid any costly surprises. Include all expenses when budgeting. 

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Not understanding the cost of living at your destination -

Your travel budget can get hit hard if you don't understand the cost of living at your destination. Research the economy of your destination before you go.

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Not weighing accommodations options -

While booking a hotel room may work for one or two people, it may make sense to look elsewhere if you have more in your group. For example, a vacation rental for larger groups and families could make more financial sense. 

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Using a credit card with a foreign transaction fee -

Foreign transaction fees can be as high as three percent on everything you buy in a foreign currency. Fortunately, there are cards with no foreign transaction fees. 

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Using public Wi-Fi without a VPN -

Even if you have to enter a password to get into the hotel or coffee shop Wi-Fi, it's still public. You can still be hacked by anyone else using that password. Use A VPN before doing so. 

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Paying too much for airport lounge access -

Sure, it's nice to avoid crowds and relax at an airport lounge. But if you haven't racked up sufficient frequent flyer miles to get free lounge access, it can get pricey. 

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Reacting when you see a sign about pickpockets -

When you see a sign indicating that pickpockets frequent your location, don't check to see if your wallet is safe. Pickpockets hang around such signs to learn where people keep their wallets.

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Overspending on groceries -

You might think it will be cheaper to buy groceries and cook at your vacation rental, but that’s not always the case. In some areas, grocery stores may charge a lot for basic items. Meanwhile, some destinations have some great cheap eateries worth testing out. 

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Getting scammed with holiday deals -

Some deals can sound too good to be true. To avoid getting scammed, do some thorough research by checking reviews to see if it's a genuine company. 

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Not exchanging leftover currency -

If you do find yourself with a significant amount of foreign money, change it back so you don't leave it to waste in your drawer. Spending it all on souvenirs or duty-free items at the airport,is also a waste of money.

Sources: (Solo Traveler World) (CNBC) 

See also: You didn't know these customs were offensive in some countries 

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