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Two months, ten countries–one carry-on

June 2, 2014 By Liz Weston

Small tourist collects things in a suitcase for travelWe’re heading off for a European sabbatical soon, and we know from previous trips that dragging along a lot of luggage is a bad idea. If you’ve ever tried to roll a heavy bag down a cobbled street, or had to haul it up five flights of stairs because your quaint rented flat had no elevator, then you understand.

But we’re going to be gone for nine weeks, exploring cities, beaches, caves and countryside. Packing just shorts and flip flops isn’t an option.

Getting everything I think I need into a carry-on has been an interesting challenge. It’s kind of like writing blog posts and 400-word columns for Bankrate and DailyWorth after having written mountains of 1,800-word pieces for MSN. You lay it all out, and then you edit, edit, and edit again. And then maybe you sit on it and squish.

Here’s some of the best advice I’ve found about packing light:

It’s worth it. No checked-bag fees, no long waits at baggage carousels, no lost luggage. The time, money and back strain saved are all well worth the effort of figuring out what to leave behind.

Everything should go with everything. So far, I’ve got the wardrobe down to one pair each of khakis, capris and shorts, in addition to the jeans I’ll wear on the plane. Five tops, two jackets, one sweater and one lightweight dress, plus a scarf or two, will allow me to create about 25 different outfits.

Think double-duty. My lightweight robe works as a swimsuit cover-up. My sandals work at the beach or a nice restaurant. My running shoes are low-key enough to work as casual dress shoes. Speaking of shoes:

Ease up on the footwear. They take up huge amounts of space. I’m trying to limit mine to the sneakers, a pair of black leather walking shoes and the flat-soled sandals.

Don’t bring what you’ll find there. I’m skipping most toiletries and hair appliances (which need adapters and converters to work over there, anyway). The hotels will have what we need and if they don’t, there will be shops.

Embrace digital. Not too long ago, every trip with the kiddo would mean packing a DVD player and DVDs along with books and games. I’d have a stack of novels and guidebooks. Hubby would bring much of the New York Times bestseller list. Now it’s all in our iPads.

If you’ve traveled long and light, I’d love to hear your trips for what to bring—and what not to bring.

UPDATE: We left for Europe with three carryons–and came back with two of them, plus two larger pieces of luggage. (One of the carryons, stuffed full of purchases, went home early with our niece.) My hubby’s penchant for buying big heavy art books, my daughter’s love of souvenirs and my flea-shopping habit quickly doomed the idea of traveling that light.

We should have consulted Will’s aunt, a retired travel writer, who roams the world with a medium-sized spinner. It’s big enough to bring what she needs but small enough for her to handle it without help.

Filed Under: Liz's Blog Tagged With: checked bag fees, luggage, saving money, travel, travel costs

Monday’s need-to-know money news

June 2, 2014 By Liz Weston

Zemanta Related Posts ThumbnailToday’s top story: Tips on how to raise your credit score. Also in the news: How to save money while on a road trip this summer, the proper amount of allowance you should give your kids, and how to be prepared for unscheduled home repairs.

7 Ways to Increase Your Credit Score Fast
Closing your accounts is NOT one of them.

4 Ways to Save Money on a Road Trip
More money for t-shirts!

How Much Allowance Should You Give Your Kid?
Allowances can teach kids good savings habits at an early age.

Unscheduled Home Repairs: Are You Financially Prepared?
Don’t get caught off guard.

There’s Probably No Cash in Your Wallet. Could That Cost You?
Why living on plastic can add up.

Filed Under: Liz's Blog, Uncategorized Tagged With: allowances, Credit Score, debit card fees, home repairs, travel expenses

Q&A: Medicare premiums

June 1, 2014 By Liz Weston

Dear Liz: I wanted to comment on the person who was wondering why her multimillionaire friend receives less Social Security. One reason could be that higher-income people pay more for Medicare, the health insurance program for people 65 and older. Instead of the standard $104 a month that most people pay, my wife and I pay about $375 each per month for Parts B and D. So if the person writing to you is thinking about net Social Security checks, Medicare would make quite a difference.

Answer: That’s a very good possibility. Some people don’t make the distinction between Social Security and Medicare. They’re separate government programs, but Medicare premiums are typically deducted from Social Security payments.

Filed Under: Q&A, Retirement Tagged With: Medicare, medicare premiums, q&a

Q&A: The best form of money to use while traveling through Europe

June 1, 2014 By Liz Weston

Dear Liz: My friend and I are widowed and really not money-wise. What is the best form of money to use in Europe, including Budapest, Vienna and various small towns? I’ve heard small-town merchants (and maybe even those in cities) don’t take credit cards, but even if they do, our bank charges substantial fees. I’ve also heard negative things about using ATMs. We’re going to be in most places only for one night, so getting each area’s currency would be cumbersome.

Answer: Americans accustomed to paying with plastic can be surprised to discover that merchants abroad, including some hotel owners, want to be paid in cash. Even businesses that accept credit cards may balk at processing U.S. cards, since our plastic lacks the more secure chip-and-PIN technology now used by most of the rest of the world.
So you’d be smart while traveling abroad to have multiple ways to pay and to choose methods that don’t ding you with excessive fees.

Let’s start with credit cards. Carry at least one with a Visa or MasterCard logo, because those are the most widely accepted brands in Europe. Call your issuers to see whether they charge foreign transaction fees. Many do, and these fees of up to 3% make every purchase more expensive than it needs to be. If all of your cards charge such fees, consider applying for one that doesn’t. Capital One waives foreign transaction fees on all of its cards, according to financial comparison site NerdWallet. Other cards that waive such fees, and which offer rich travel rewards, include Barclaycard Arrival World MasterCard, Chase Sapphire Preferred and BankAmericard Travel Rewards Credit Card.

Whichever card you use, call the issuer to let it know the dates you’ll be abroad. Otherwise your issuer may shut down your account for suspicious activity. Carry a backup card (and alert its issuer) in case your primary account is compromised or mistakenly blocked.

When you need local currency, the best way to get it is often from a bank ATM. Travel guru Rick Steves, who spends a few months in Europe each year and primarily uses cash, suggests you avoid “independent” ATMs run by companies such as Travelex, Euronet and Forex because of their often-high fees. Bank ATMs in Europe typically don’t charge usage fees, although your home bank may levy a $2 to $5 flat fee plus a foreign transaction fee of 1% or more for every withdrawal.

You can minimize usage fees by making infrequent but large withdrawals. Or you can use a checking account that doesn’t charge fees. Charles Schwab’s high-yield checking account offers unlimited ATM fee rebates worldwide with no foreign transaction fees, according to Brian Kelly of the travel rewards site ThePointsGuy.com. If you have an account with Capital One 360, the online bank, ATM fees are waived and the bank absorbs MasterCard’s 1% foreign transaction fee. USAA Bank charges a 1% foreign transaction fee but doesn’t charge a fee for the first 10 ATM withdrawals.

If you do find yourself carrying a lot of cash abroad, consider bringing a money belt that tucks under your clothes. That’s generally more secure than carrying money in a wallet or purse. And have a great trip!

Filed Under: Q&A, The Basics Tagged With: currency, Europe, q&a, travel

Friday’s need-to-know money news

May 30, 2014 By Liz Weston

Zemanta Related Posts ThumbnailToday’s top story: What numbers identity thieves want the most. Also in the news: How identity thieves will sell those numbers, expecting the unexpected if you retire at 67, and should you be saving for your retirement or your child’s education?

8 Numbers Identity Thieves Want to Steal From You
It starts with your phone number.

4 Ways Crooks Cash In On Your Personal and Financial Data
The black market for data.

Are You Planning to Work Until 67? And Will You Be Able To?
Preparing for unexpected changes.

Which Comes First: Saving Money for Your Retirement? Or Your Kid’s College?
Which priority is most important?

Filed Under: Liz's Blog Tagged With: College Savings, Identity Theft, Retirement, retirement savings

Thursday’s need-to-know money news

May 29, 2014 By Liz Weston

imagesToday’s top story: five money mistakes we all make. Also in the news: the high costs of commuting, which monthly payments you should keep or drop, and exposing the hidden fees that eat up your retirement savings.

5 Money Mistakes Even Diligent Savers Make
And how to avoid them.

The High Cost of Your Daily Commute
All that time spent in the car can add up quickly.

12 Monthly Payments You Should Add – or Drop
To keep or not keep Netflix?

FeeX Exposes the Hidden Fees that Eat Up Your Retirement Savings
A warning system for fee deductions.

10 tips for grocery shopping on a budget
This year’s crazy weather has driven up the cost of food.

Filed Under: Liz's Blog Tagged With: commuting expenses, grocery budget, hidden fees, money mistakes, monthly expenses, retirement savings

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