Financial expert weighs in on saving money before, during Spring Break travel

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GRAND RAPIDS, Mich. — Many people are mid-Spring Break in West Michigan, or it’s on the horizon. Maybe, you’ve already had your week off and are planning a trip for warmer months.

Whatever your plan, it’s important to be conscious of your spending not just before the trip but during, too.

According to a survey conducted by financial company IPX 1031, more than one in 10 Americans are planning a Spring Break trip.

Preparing for exchange rates, hidden fees and peak travel periods are all things to keep in mind when heading to your vacation destinations.

According to that same survey, the average person is willing to spend $2,700 dollars on their travels.

Kelly Gilbert, the owner of EFG Financial said the high costs are why saving in advance, in a separate account for your trip, is important.

Then, when your trip arrives, make sure to plan for exchange rates if you’re headed out of country, and don’t carry too much cash in case you encounter a pickpocket.

In addition, Gilbert says setting a budget for what you want to spend while you’re away and using a credit card instead of a debit card to avoid scams is something all travelers should do.

“You can dispute. ATM or debit purchases are much harder to dispute and that money may be gone. When you’re traveling, rely more on a credit card than a debit card. Use a debit card only if you need to withdraw cash from an ATM. Use your credit card instead,” said Kelly Gilbert, owner of EFG Financial.

Gilbert also says using safes in your room in your room for money, jewelry and passports could cause an issue for you if you forget the combination. He suggests writing the combination elsewhere or bringing your own portable, travel safe.

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