Checking your finances after your holiday

After a relaxing holiday, you might find coming back to the everyday grind hits harder than you think. Checking your finances after a holiday could save you any unwelcome surprises and, if you plan your budget in detail, you could use it as a basis for your next trip away.

In this article, you’ll discover the best way to go about it.

Checking your bank and credit card statements

After your holiday, you should carefully go through your bank and credit card statements. Pay particular attention to:

• duplicate or unfamiliar transactions
• unusual amounts or foreign currency charges
• conversion rates or fees that are too high

And remember that credit card payments in foreign currencies often incur fees of between 1% and 2%. In many cases, turning on push notifications when you use your card or on your banking app can help you quickly identify additional costs or unusual payments.

Tip: If you often travel to non-Euro countries or spend a lot of time there, it may be worth choosing a credit card that doesn’t charge fees when used abroad.

Report unauthorised payments to your bank immediately:

• You are allowed to recall direct debits up to 13 months after they have been transferred. 
• With credit card statements, it’s especially important to document how much money you spend and where. Remember to keep your receipts. Many banks now offer banking apps that allow you to add receipts to a card transaction. If something doesn’t add up, you should contact the bank that issued your card immediately.