So far we have covered a range of issues, particularly in regards to booking international airfares and some strategies to save money, getting the best deal etc.

You can find these posts in my Getting the best travel deal posts here and here. In this post, I will address some hidden costs which you could be saving when travelling (international or domestic).

Suspension of policies - Health insurance is used as an example here.
Let’s face it, health insurance is only going to ever increase in premiums in the future. This is evidenced by the annual increases in our premiums (despite all that Government funding to private hospitals). I pay in excess of $200 per month, albeit totally worth it with HBA.

When you travel internationally, if you bought your tickets using your credit card (granted they provide free travel/health insurance associated with the card) then you are covered wherever you go. Check your policy carefully, and ask as many questions (particularly when entering North America). So why pay Health Insurance in Australia?

Almost all health insurance providers offer a suspension service. Just ring them and explain your situation, and you can suspend your cover and therefore those premiums.

In my case, I would save approx $200 per month. More spending money, LOL!

What happens if only your partner is travelling, and they are included in your cover?
Unfortunately if you have a family policy you cannot suspend persons individually from the cover (but check with your health insurance provider anyway - you might be lucky). For example: if your wife is travelling for 1 month, you cannot suspend only her policy because its a family policy. But here is one way around it, depending on your health insurance provider. Mr Feedback is all about ideas!!! (Note: this will work beautifully if you have served your waiting periods, including for pregnancy etc which is typically 12 months).

Split the policy into two individual policies. Then you are able to suspend them individually, and then re-enact them when your partner returns. Once they return, you can combine the policies into a family policy. There may be a time period ( usually 2-4 weeks from time of return from travel) within which the policies have to be combined. Discuss this with your health insurance provider.

Make sure you split the policy as early as possible before you travel. For example, with HBA they have a 2 month rule. If you split your policy, you still end up paying the individual premiums for 2 months before suspension is allowed. In order words, you cannot split the policies and immediately suspend them. So plan ahead.

In my case, if I did that - I would save potentially $100 per month. You guessed it, that’s extra spending money overseas!

Note: The above idea may not work so well if you have children in the policy. Things can get a bit complicated, so beware.

A similar approach can be used for other policies such as: car insurance (if you are not using it for a few months) etc. You would be advised to keep your home and contents insurance policy going.

Utilities and luxury expenses
Simple things like suspending or even disconnecting your mobile phones, home phones, internet, gas, electricity makes a big difference. If you have home alarm systems, this you might not want to disconnect or suspend electricity. I am not a great fan of roaming mobile services. They are bloody expensive, with costs up to $3 to $5 per minute. You will be paying for incoming calls too. Trust me, I found this out by experience when I got a massive bill of $600 bucks once.

You can turn off your hot water system, as this uses up to 30% of your electricity bills. That’s a significant saving if you regular pay in excess of 200-300 dollars per quarter.

If you are traveling for extended periods of time?
If you are renting, then it would make sense to vacate your property and then find another one on your return. Granted this is a bit of a pain in the a–, but considering rental expenses these days it may be worth it. Your belongings can be put in storage (from $50-200 per month), or perhaps a willing relative’s empty garage for a nominal fee.

These are some of the strategies you can employ to minimize your expenses while traveling. A lot of it is quite simple to arrange, especially if given plenty of notice. If you have some other tips, then comment or drop me a line, or better yet - write your post!