Save
(Financial) planning for a holiday?
While well travelled, Australians aren’t financing travel well – returning home with phones full of pictures but wallets full of debt, according to the Financial Planning Association of Australia (FPA).
(Financial) planning for a holiday?
While well travelled, Australians aren’t financing travel well – returning home with phones full of pictures but wallets full of debt, according to the Financial Planning Association of Australia (FPA).
In recognition of World Financial Planning Day, FPA has expressed a desire to encourage Australians to #PlanWell2LiveWell “so we can see more of our beautiful country and travel overseas without financial regret”.
The FPA cited Commonwealth Bank data that found Australians had overspent on international travel by more than $900 million, while close to half of all travellers surveyed hadn’t bothered to set a budget before leaving for an overseas trip.
Certified financial planner and CEO of FPA, Dante De Gori, said that “too often, we hear of well-meaning Australians who have embarked on a holiday before they were financially prepared”.
“They got caught up in the years of dreaming and organising, and came home saddled in debt.”
This World Financial Planning Day, he said the organisation really wants Australians to understand “that if you don’t have a good grasp of your financial situation before you depart for your travels, your finances are more likely to unravel while you’re on the road”.
He offered up some words of wisdom:
“Set your goals. Budget your everyday expenses and savings, manage your debt, invest wisely, and get appropriate travel insurance. And if you’re planning to use your retirement to see more of the world, plan early for that stage of life.”
He also advised would-be explorers to “make a plan with a certified financial planner professional now to live well later”.
RELATED ARTICLES
About the author
About the author
How to budget
The psychology behind saving: Understanding and overcoming common barriers
Saving money is a fundamental aspect of financial security, yet many people find it difficult to set aside a portion of their income regularly. Read more
How to budget
Smart saving tips for first home buyers in Australia
Purchasing your first home is a significant milestone, but the path to homeownership in Australia can seem daunting due to the high property prices and competitive market. However, with the right ...Read more
How to budget
Crafting your safety net: Building an emergency fund in Australia
In uncertain times, having an emergency fund is more than a financial buffer—it's peace of mind. For Australians looking to start their journey towards financial security, building an emergency fund ...Read more
How to budget
The psychology of saving: How to train your brain to cut expenses
Saving money is more than just a practical financial strategy; it’s a mindset that requires discipline and a reorientation of one’s approach to spending and savings. Read more
How to budget
5 budgeting apps that will transform your savings
In the digital age, managing personal finances has shifted from pen and paper to smartphones, with budgeting apps becoming invaluable tools for those looking to save money. With an array of features ...Read more
How to budget
Handy tips to send your money worries to the chopping block
Sorting out your finances can be easier said than done, especially in the aftermath of the short Easter break when distractions are unrelenting and stress levels are worked up at fever pitch. Read more
How to budget
6 ways to clean up your personal finances
Bringing your spending under control can sometimes feel daunting. Here are some ways to start. Read more
How to budget
5 ways to be smarter about your money in 2021
Start the new year on a high note by stepping away from bad financial habits. Read more
How to budget
The psychology behind saving: Understanding and overcoming common barriers
Saving money is a fundamental aspect of financial security, yet many people find it difficult to set aside a portion of their income regularly. Read more
How to budget
Smart saving tips for first home buyers in Australia
Purchasing your first home is a significant milestone, but the path to homeownership in Australia can seem daunting due to the high property prices and competitive market. However, with the right ...Read more
How to budget
Crafting your safety net: Building an emergency fund in Australia
In uncertain times, having an emergency fund is more than a financial buffer—it's peace of mind. For Australians looking to start their journey towards financial security, building an emergency fund ...Read more
How to budget
The psychology of saving: How to train your brain to cut expenses
Saving money is more than just a practical financial strategy; it’s a mindset that requires discipline and a reorientation of one’s approach to spending and savings. Read more
How to budget
5 budgeting apps that will transform your savings
In the digital age, managing personal finances has shifted from pen and paper to smartphones, with budgeting apps becoming invaluable tools for those looking to save money. With an array of features ...Read more
How to budget
Handy tips to send your money worries to the chopping block
Sorting out your finances can be easier said than done, especially in the aftermath of the short Easter break when distractions are unrelenting and stress levels are worked up at fever pitch. Read more
How to budget
6 ways to clean up your personal finances
Bringing your spending under control can sometimes feel daunting. Here are some ways to start. Read more
How to budget
5 ways to be smarter about your money in 2021
Start the new year on a high note by stepping away from bad financial habits. Read more
More articles
OUR PLATFORMS AND BRANDS
- Accountants Daily
- Accounting Times
- Adviser Innovation
- Australian Aviation
- Broker Daily
- Cyber Daily
- Defence Connect
- Fintech Business
- HR Leader
- Independent Financial Adviser
- Investment Centre
- Investor Daily
- Lawyers Weekly
- Money Management
- Nestegg
- Property Buzz
- Real Estate Business
- Smart Property Investment
- SMSF Adviser
- Space Connect
- Super Review
- The Adviser
- Wellness Daily
- World of Aviation
EVENTS AND SUMMITS
- Accountants Daily 30 Under 30 Awards
- ACE25
- Adviser Innovation Summit
- Australian Accounting Awards
- Australian Aviation Awards
- Australian Broking Awards
- Australian Defence Industry Awards
- Australian Law Awards
- Australian Space Awards
- Australian Space Summit
- Better Business Summit & Awards
- Broker Daily Business Awards
- Corporate Counsel Summit & Awards
- Cyber Security Summit & Awards
- Defence Connect Budget Lunch
- Defence Connect DSR Summit
- Fund Manager of the Year Awards
- ifa Excellence Awards
- ifa Future Forum
- Investor Daily ESG Summit
- Lawyers Weekly 30 Under 30 Awards
- Lawyers Weekly Women in Law Forum
- New Broker Academy
- Partner of the Year Awards
- REB Awards
- Reinnovate
- SME Broker Bootcamp
- SMSF Adviser Technical Day
- Super Fund of the Year Awards
- Women in Finance Awards
- Women in Law Awards
- Accountants Daily Podcast Network
- Australian Aviation Podcast Network
- Broker Daily Podcast Network
- Defence Connect Podcast Network
- HR Leader Podcast Network
- REB Podcast Network
- Relative Return
- Space Connect Podcast
- The Adviser Podcast Network
- The ifa Show
- The Lawyers Weekly Show
- The Smart Property Investment Show
PODCASTS
LEARNING AND EDUCATION
MOMENTUM MARKETS NETWORK
LINKS
STAY CONNECTED
Make your nest egg grow. Register now for nestegg updates.