I was talking with a co-worker the other day who was telling me all about his vacation plans this year...how he had planned everything at the end of 2007 and had made all of his flight and hotel arrangements already.

It got me thinking: What do I want to do this year? And is there any place I could visit this spring?

Then it hit me: "Yes, there is!" As I was driving in to work, a commercial came on the radio. The voice had that familiar, friendly accent and hyped up places like Bondi Beach  and the Sydney Opera House . "Now is the perfect time to visit Australia!" the voice said, encouraging me to get info about Qantas flights .

I visited Australia  while in grad school. I really had no money, but a friend of mine worked for an airline and got me a "buddy pass" that allowed me to fly for a steal. Once there, I was also able to stay with my friend's relatives. Unfortunately, because we were flying standby, our trip was short, and I've always vowed to return.

Nowadays, I use frequent flyer miles  to go on vacation. But nothing is ever "free," and I still have to consider the cost of airport taxes & fees, hotel, meals, ground transportation, sightseeing, and of course, local shopping!

So, even though I really want to go, I have to ask myself: Can I afford to go? I could charge everything — I usually use my credit card anyway when I travel because it's safer than cash, adds additional insurance, the exchange rate is usually better, and I get rewards points for every purchase. But can I (or would I) pay it all back when I return?

What would you do? What are some of your vacation planning considerations?

Posted by Dinna at 10:00 AM |  Contact Dinna |  Permalink  |  Comments (0)
Found in Budgeting, Credit cards, Debt, Exchange rates, Looking back, Paying, Vacation, Wells Fargo Bank

Fall is pretty much my favorite time of year. The cool air, changing colors and leaves crunching under my feet...ahhh, love it.

This fall I'm taking a bit of a break, so I wanted to let The Student LoanDown blog community know it'll be a while before you see another post from me.

Unfortunately, my break is not to relax and enjoy the fabulous autumn foliage . I'll actually be on medical leave recovering from open heart surgery. Don't worry about me; I'm an old pro (this is my third surgery), and I'm handling the situation just fine (I even threw a heart surgery party).

Hopefully, I'll be back blogging before you know it.

In the meantime, look forward to all the stories I'll have to share when I get back. Those of you who've been reading the blog for a while have seen me compare some pretty random things to student loans. Think I can't do it with heart surgery? Just wait.

While I'm gone, please don't stop commenting on my posts or sending me your questions. The rest of The Student LoanDown blog team is ready to jump in during my absence. I know they might not be as cool as me, but they're still very qualified and fun to chat with!

Posted by Barbara at 09:37 AM |  Contact Barbara |  Permalink  |  Comments (0)
Found in Student loans, Vacation, Wells Fargo Bank

What was our big summer trip this year? We didn't go Costa Maya, Costa Brava , or Costa Rica — but it sure did "costa lotta!" Sorry, couldn't resist the pun.

Our family vacation was a road trip to "The Happiest Place on Earth": Disneyland ! With my five-year-old getting ready to start kindergarten, my two-year-old obsessed with princesses, and the newly-opened Finding Nemo  ride to check out, Disneyland was the perfect destination to please the whole family.

But jeez, it was hot, hot, hot! The new Nemo ride was very well done, but the wait in line was at least 1½ hours and we were just melting. On the other hand, since everyone was in line to find Nemo, other favorites like the Pirates of the Caribbean  and the Haunted Mansion  were only a 5-10 minute wait. Sweet! Plus, the rides were air-conditioned — ahhhhhhh...nice!

We all had a great time! If only going to Disneyland were FREE it would truly be the happiest place on earth for parents.   We thought the trip would be cheaper than going to Europe, but after reviewing my credit card statement online and seeing the cost of the hotel, park tickets, breakfast with characters, dinner at Ariel's Grotto, princess costumes, collectible pins, autograph books, and many other priceless souvenirs only found in the Magic Kingdom — well, maybe we should've just gone to Neuschwanstein  instead to see the real Cinderella Castle!

Next time we'll do a better job of budgeting ahead of time and practicing self-restraint with our spending. I'll have to stop myself and think: Do we really need another princess outfit? Will I have sleepless nights if I don't buy that limited-edition collectible pin, light-up Mouse ears, or $18 spray water bottle?

Have you ever spent more than you expected? Do you have any tips for how to control spending on your credit card?

Posted by Dinna at 12:24 PM |  Contact Dinna |  Permalink  |  Comments (0)
Found in Back to school, Banking, Budgeting, Credit cards, Looking back, Money management, Online banking, Parents, Travel, Vacation, Wells Fargo Bank

In my last post, I addressed some of the different money options available for international travelers. And whether you're "on holiday" or studying abroad, a little common sense goes a long way to keep your money safe when you're in a foreign country. Below are some suggestions that might help.

Before you depart, make a list of your credit and debt card account numbers, the numbers of your traveler's checks, and the international phone numbers for reporting lost or stolen cards and checks. Keep the list with you, and give copies to a traveling companion and to someone at home to call in case of trouble.

Sometimes peace of mind is more valuable than any Let's Go®  or Lonely Planet™  travel guide. Keep copies of your key documents—including your passport and plane tickets—separately. Photocopies might not always be accepted, but they can speed up the process of getting replacements and/or be better than nothing. I stashed copies in the bottom inside pocket of my luggage (fortunately, I never had to use them).

Most travel experts recommend that you carry only the funds you'll need for each day's outing. But when I backpacked around Europe, I was staying mostly in hostels , and safes weren't always available. So I actually kept all of my money, cards and documents on my person at all times in an under-my-clothes, around-my-waist money belt . It started off as ivory but was a sickly khaki color by the time I got home. Kind of gross, but safe!

Other tips to consider:

• Divide your money and traveler's checks with a traveling companion, if possible. That way, if yours are lost or stolen, your companion has access to cash.
  
  
• For credit and debit cards, keep them in a safe place where they won't bend, scratch or become demagnetized. Minimize the risk of theft or loss by taking only the cards you need.
  
  
• When using ATMs, use the same caution you would when you're at home: Don't flash your cash after leaving the machine, and use ATMs in safe locations.

All this talk about money and travel has reminded me that sadly, I've let my passport expire. While I work on a renewal , tell us about your international money adventures here.

Posted by Staci at 11:28 AM |  Contact Staci |  Permalink  |  Comments (0)
Found in Budgeting, Checking, Credit cards, Currency, Debit cards, Exchange rates, Financial education, Housing, Money management, Paying, Preparing, Student loans, Travel, Traveler's checks, Vacation, Wells Fargo Bank

A few weeks back, Kathy wrote a great post about alternatives to taking a European vacation. Well, if in these last few weeks of summer you're taking an actual European vacation—or perhaps preparing for a semester abroad—one thing you'll need to think about before handing over your passport at customs is money.

I was born in Germany (my dad was in the Army), made a trip to the United Kingdom in college, and spent two months backpacking around Europe after my first job. So other than my time as an infant, I've had some experience spending money overseas. Here are a few tips that might help.

Buy some foreign currency before you leave so you don't have to pay high fees and lousy exchange rates  at an airport currency window. Most banks can sell foreign currency with a few days' notice. Ask for some in small denominations—when you arrive at your destination desperate for a snack and a taxi, you'll be glad you did!

In addition to foreign currency, consider taking traveler's checks . You can buy them either in the currency of your destination or in U.S. dollars. If you need to cash U.S. dollar traveler's checks abroad, you are more likely to receive the best exchange rate at a bank. Fees usually apply per check cashed, so it may be in your interest to cash the higher denominations.

Use your credit card or debit card for the most favorable exchange rate. Just be sure to notify your bank of your travel plans before you leave—otherwise, your accounts could be frozen as a precaution against fraud (certainly not what you want when you've been standing in line for an hour to buy tickets at the Louvre ). And if you plan to use an ATM, remember that cash at foreign ATMs is dispensed in the local currency and debited from your account in U.S. dollars.

Basically, it all comes down to diversifying your travel money portfolio. A combination of foreign currency, traveler's checks, and plastic will give you the most flexibility. In my next post, I'll focus on how to keep your money safe when you're abroad.

P.S.: Want to know how much the U.S. dollar is worth in other countries? Check out our handy currency calculator.

Posted by Staci at 09:53 AM |  Contact Staci |  Permalink  |  Comments (9)
Found in Banking, Budgeting, Credit cards, Currency, Debit cards, Exchange rates, Financial education, Paying, Preparing, Student loans, Travel, Traveler's checks, Vacation, Wells Fargo Bank

Try as I might, I just can't seem to shake my travel bug. Over the weekend I watched "Long Way Round" —a documentary film that chronicles Ewan McGregor  and his friend Charley Boorman as they ride motorcycles from London to New York City by driving east—the long way round.

Admittedly, I added the movie to my Netflix® queue  because of my love of the "Moulin Rouge"  actor, but I was captivated by the film as soon as I turned it on. This movie has some really good stuff in it, especially as the pair tries to navigate some of the "roads" in Mongolia and Siberia!

Many of you also share my love of travel, and you've been quick to offer advice on the subject! I recently was made aware of another a great hostel booking and reviewing site . Don't tell my manager, but I spent a good hour perusing it this morning, and I was impressed by both the quantity and the quality of the listings offered. It might be useful to check out if you're planning a trip to, well, anywhere!

Finally, as you may well be aware, the days are beginning to get shorter once again—summer is coming to an end and so too is my summer internship. I'll soon be back on campus  as a full-time student, so I must bid you farewell. It has been my pleasure to chat with you all, however briefly, and I wish you the best of luck in your endeavors (financial and otherwise)!

Parting, as they say, is such sweet sorrow.

Posted by Kathy at 08:50 AM |  Contact Kathy |  Permalink  |  Comments (7)
Found in Back to school, Budgeting, Financial education, Graduate school, Housing, Paying, Preparing, Student loans, Travel, Vacation, Wells Fargo Bank

Yesterday, the angel and the devil sitting on my shoulders were arguing about the merits of taking a European vacation this summer. In the end they agreed to compromise—road trip!

Later this summer, I am thinking about hopping in my Honda Civic (not a Hybrid like the one Wells Fargo is giving away, but very fuel-efficient nonetheless) and driving up to Portland, Ore., for a few days. My fiancé is keen on viewing the Body Worlds  exhibit that will be in Portland for the month of August, and his parents live nearby—an added bonus and money-saver!

Not only will I save on the cost of airline tickets by driving, I'm also planning to reduce my cost further by staying at a hostel (when we're not crashing with his parents).

What is a hostel , you ask? There is no one correct definition (I've stayed at really nice hostels  and some that were … um … not so nice), but they tend to offer low-cost accommodation options to young travelers all around the world! You can often choose between a private room or a bunk-bed style option, depending on your budget and privacy preference.

Still not convinced? You can (and should!) do your homework before traveling—sites such as hostelworld.com  allow you to research, book rooms and review various hostels all over the world. A quick search shows me a couple of great hostel options in the Portland area—for a fraction of what I would spend on a hotel! My bank account will certainly thank me!

Do you have any thrifty vacation tips?

Posted by Kathy at 12:05 PM |  Contact Kathy |  Permalink  |  Comments (9)
Found in Budgeting, Financial education, Graduate school, Paying, Preparing, Student loans, Vacation, Wells Fargo Bank

It's summertime, and the little devil that sits on my shoulder is screaming into my ear:

Devil: You've kept us cooped up for far too long! I know what we need—National Lampoon style, EUROPEAN VACATION !

Fortunately for me, I have an equally loud angel on my other shoulder:

Angel: Kathy, you just accumulated nearly $50,000 in student loans to fund your first year of graduate school . One year down, one to go! You've done a great job of managing your budget on these funds, and you're making a great investment in your future by continuing your education—don't blow it now!

Devil: But you have a credit card, and a healthy credit limit! Just charge it and worry about paying the balance back later!

Angel: You can't pay back money you don't have. You're already borrowing for the cost of living—resist this temptation!

I sigh and accept that the angel has a point. Going on a European vacation, at least this year, doesn't make sense for me from a financial standpoint. If I were to put that much on my credit card, given my severely limited income, I'm not sure how (or when) I would be able to pay it off. Even though I am often tempted to take advantage of the ease of spending using my credit card, I believe that for people in situations like mine, spending on credit should be reserved for necessities (such as gas, groceries, etc.) or emergencies.

OK, the angel and devil are coming to a compromise:

Together: ROAD TRIP!!

More on this development to come …

Editor's note: We're thrilled to introduce Kathy as the newest—if only temporary—member of the Student LoanDown blog team!

Posted by Kathy at 09:02 AM |  Contact Kathy |  Permalink  |  Comments (6)
Found in Budgeting, Financial education, Graduate school, Paying, Preparing, Student loans, Vacation, Wells Fargo Bank