So you can properly relax
Taking holiday, especially for busy doctors and dentists, can feel like a hassle. Whilst your summer holiday should be a time to unwind, spend time with your loved ones, or read the book you got for Christmas, the preparation before and the catch-up on return, can be stressful. Good organisation though can not only save money, but stress too.
Tip 1 – Make sure you can access your accounts online
In the 24/7 connected world we live in today, most business owners and professionals want to have instant access their financial information, even whilst on holiday.
Despite the idea of wanting to unplug and not even think about work for the entire vacation, in reality, staying connected means you can dip-in from time to time and reassure yourself that everything is in working order, despite your absence.
Cloud accounting software for business owners is essential for this as you can see real time information about your business finances from wherever in the world you are.
For professionals too, online banking is essential, so make sure you have downloaded the relevant application for your phone so you can log-on from your holiday destination.
Tip 2 – Organise your currency in advance
Often the lead up to a holiday requires extra hours in the office, and spare time is absorbed with last minute shopping lists and getting yourself and the family ready to depart.
Organising your currency in advance can certainly save money, as the best rates are typically not on the high street or the airport, where bureau’s know they can demand a higher rate of commission.
Search online for the best rates a couple of weeks in advance.
Tip 3 – Mobile phones – be careful with charges
It is the classic situation which if you haven’t been in yourself, you are sure to know someone who has… you get back from a lovely holiday, business as usual, and a week later your phone bill lands in your inbox! “What! £742”. First you want to blame the kids, they must have pressed something, but then you realise you forgot to turn off your 3G or 4G and data roaming.
These days, some network providers offer mobile packages that mean calls and internet access are at the same price as in the UK, in certain countries.
Others have available add-ons to avoid paying the inflated fees from abroad, if you arrange in advance.
Make contact with your phone provider and find out what they can offer you.
Sometimes it is even worth getting a PAYG with a new provider to access their deals too.
Tip 4 – Ensure you have travel insurance in place
There is always that feeling in the base of your stomach when you see your bag disappear on the conveyor-belt where you think, “will I ever see my bag again?”.
Usually it works out fine, but it’s better to be safe than sorry by making sure you have suitable travel insurance to cover any losses or mishaps whilst away.
Of course, travel insurance is also essential should you fall ill or get injured while out of the UK. Failure to have suitable cover for you and the family can result in hefty medical bills.
If you are carrying expensive goods, particularly laptops and mobile phones that are not covered by your regular travel insurance, consider taking a separate “gadget insurance” to give you extra piece of mind.
Also, a European Heath Insurance card can be useful, as an addition to your travel insurance, not instead. It is free, so worth spending a few minutes to apply – that is depending on the EU Referendum results on 23 June!
Tip 5 – Using your credit card overseas
There is always some confusion when taking cash or paying by debit or credit card from abroad, when it says “would you like to pay in pounds or euros”, for example.
It is worth knowing the currency rates for the country you are in and the UK, and tracking these whilst you are away, so you are better educated to make this decision.
More often than not, it pays to use the currency of the country you are in, but it does vary.
Enjoy your summer holiday!
Dental & Medical Financial Services provide doctors and dentists with a wide range of financial advice so you can save money and build your wealth.
Tel: 01403 780 770