Tuesday, August 16, 2022

Your Money: 4 Tips for Traveling Abroad

Despite the devaluation of the peso and the country’s economic fragility, the truth is that there are many Argentines who are currently holidaying abroad or who are planning to cross the border in the coming days, weeks or months.

For this reason, in the column Today we’re going to provide 4 financial tips so you can enjoy your trip to the fullest.Without the constraints imposed by the government, it is becoming a headache.

let’s get started!

With few exceptions, trips don’t start from the moment the plane takes off, but at least a few weeks before, as we draw up a financial plan.

What is included in this plan? basically, In calculating the money we intend to spend, This is a number we should always keep in mind so that temptations don’t unbalance our budget, because -as we’ll see later- many people resort to quick access to ATMs or simply check if they have savings. There is money deposited in the account. At a new expense without measuring the results.

Meals, excursions, transfers, purchases… The budget should include these items and anything else that happens to us. In addition, 10% should be added to the result of unplanned expenses.

The next step in optimizing expenses is dividing the total budget by the number of vacation days. That way we can set daily boundaries and not reach the end of the journey with a rope around our neck.

One savings strategy that is gaining more and more followers is to change the old hotel stay habit Rent an apartment through the digital platform.

In this case the savings are double: the chosen space is not only usually cheaper and more spacious than a hotel room, but it also enables the possibility of buying food in supermarkets and cooking, as most apartments for rent. They have all facilities in it. Essential tools for us to handle ourselves at home.

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The difference in expenses between going to the supermarket and eating out breakfast, lunch or dinner can easily reach 200%, especially when it comes to large families where 7 meals out of every $10 spent on travel on go.

Should I spend with cash or debit/credit card? There is a very simple answer to this million dollar question: with a card.

That’s because, even with the recent 10% increase in applicable taxes on tourist dollars (used for card spending)), with free, blue or illegal dollars (depending on who is viewing it) the odds remain high. The tax-filled dollar is cheaper than the version you get outside the official class.

Here the second question arises whether to use a credit or debit card or not. Answer This will depend on the depreciation expectation that each has, since, when we spend with debit, we are charged the peso/dollar exchange rate which is controlled at the time of purchase, whereas in credit card spends is calculated at the end of the billing cycle,

The truth is that, in Argentina where a devaluation of the peso usually gives many more negative than positive surprises, with a sudden jump in the dollar, common sense tells us that any cautious person should not stop counting as soon as possible. Priority should be given so that this does not happen. To be exposed to a depreciation that could make a product or service purchased outside the country significantly more expensive.

Taxes from those countries are usually included in the price we pay for goods or services purchased abroad, which we can often collect through an administrative process at the airport of the location we visit.

It should be clarified that not all countries offer returns and, in the case of countries that comply, not all businesses are covered. tax refund,

At this point, the recommendation is to ask directly the place where you want to buy something or look for a sticker that says Tax free,

To get a tax refund You should request an invoice tax refund in business. You will then need to present it at the airport before flying back from that country or to another destination.

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Although this is not common, they may ask us to show the purchased goods, so it is convenient to do this process before sending the goods.

Namely: in high season the process can take about two hours.

The percentage to recover varies by country. In Germany they give a return of 19% and in Italy 23%. In the US it varies depending on each state.

countries in which tax refund Son Germany, Denmark, Spain, United States, France, Greece, Holland, England, Israel, Italy, Japan, Mexico, Poland, Portugal, Thailand, Uruguay, Vietnam, Australia, Austria, Belgium, Cyprus, Croatia, Slovenia, Slovakia, Finland Czech Republic, Hungary, Iceland, Indonesia, Ireland, Korea, Lithuania, Luxembourg, Malaysia, Morocco, Norway, Romania, Singapore, South Africa, Switzerland, Sweden, Taiwan and Turkey.

Yes, I know, holidays are a time of relaxation and entertainment where no one wants to be exposed to issues like the ones we review here.

Even then, Letting money issues rest too much can lead to unnecessary headaches along the way., Those are neglects that usually pay off very dearly.

The tips in this column will allow you to enjoy responsibly and easily. Plus, replicate the travel experience earlier than expected. Remember that summer is still missing and you will want to relax to face 2023 in the best way possible.

If you are one of those lucky ones who will soon cross borders, I wish you a very good journey and I invite you to continue reading this column wherever you are.

Until next week!

Nation World News Desk
Nation World News Deskhttps://nationworldnews.com
Nation World News is the fastest emerging news website covering all the latest news, world’s top stories, science news entertainment sports cricket’s latest discoveries, new technology gadgets, politics news, and more.
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