Many people are simply in love with travel. Jetsetters are always looking for ways they can travel at any chance they get. They will make time to go on a trip no matter how busy their work schedule is. They are passionate about sharing their travel experiences and are often seen visiting the top travel destinations here and abroad. But if there is one thing many jet setters need to consider is to start making the right investments.
The good news is, the market is never short of investments that can help you upgrade your travel goals. Note that not all items mentioned in this list will be applicable to everybody. We all have our own needs, which is why it is worth considering if the following investments would make sense in your current situation.
A Home Purchase
These days, many people are still renting. The fact that you are always packing your bags to explore another state or city makes renting a perfect choice. But one day, you will surely need a forever home you can call your own.
Even if you change your mind about the place you intend to live in in the future, you can always use your property to support your traveling goals. For one, you can buy a property, rent it out, and earn a passive income. You can sell it after a few years if you have no intention of managing tenants.
You can also use it every time you are in the city and rent it out during the days or months you won’t be home. Owning a house gives you’re the freedom to decorate the property as you wish. You can buy the sofa you’ve always wanted to have and have a safe place where you can collect all of the trinkets you’ve collected during your years of travel.
Travel Rewards Cards
With the number of travel rewards cards in the market, it can be very difficult to choose the right one. But do you really need these and do they really work? For frequent travelers, the short answer is yes.
Travel rewards cards enable travelers to enjoy many perks not available in ordinary cards. Some help you collect points you can exchange into certain upgrades without spending a dime. Others offer exciting freebies and discounts. It all depends on your traveling needs and the activities you often use cards with.
When choosing a travel rewards card, read all terms and conditions. Don’t simply look for a card that offers no annual fees. You should also consider the following when choosing one.
- low spending minimum
- added category spending bonus
- welcome offers/signup bonus
- special travel perks
- international travel perks
High-Yield Savings Accounts
For most travelers wanting to visit other countries, show money is a must. This is not only to ensure you have enough funds to pay for your needs in another place. It is also to gain a visa to visit and stay in the country for a certain amount of time.
A high-yield savings account enables you to earn more by the time you withdraw your money. The higher the interest rate of your account, the better. This can be your go-to choice for all of your emergency funds.
As you invest money on your travels, you should also make time to grow your savings. You get to earn more interest in such an account than an ordinary savings account. You get to secure your funds and use them whenever necessary.
Need more reasons to start believing in cryptocurrency? Travelers can leverage on cryptocurrency as one would in using gold. You can buy cryptocurrency anywhere around the world and withdraw your funds after at least a year. More often than not, you can gain up to 30% more funds when investing in cryptocurrency in the long term.
As a traveler, you can use cryptocurrencies to pay for goods and services anonymously. You can eliminate high banking fees and enjoy low international transaction fees. As long as you have internet access, you can access your funds with no issue.
The great thing about cryptocurrency is that no government manages your digital money. It only gains more traction on Wall Street and continues to increase in value. The fact that Tesla made investments in Bitcoin and now accepts payment through the platform shows how cryptocurrency continues to grow stronger.
Jetsetters may have different life goals. But there are many things they have in common. For one, they need money to finance their travels. Making the right investments will help change your life as a traveler. Even though every traveler has different needs, you can consider this list as a guide, so you can maximize traveling opportunities and get the most out of your travels.