Money Management

Checking your passport’s expiration date before booking international flights is necessary. Find out how to avoid a costly trip-planning error. [[{“value”:”

You need a passport to travel to most countries outside the United States. Adult American passports are valid for 10 years. However, many international destinations require travelers to have passports with at least six months of validity left before they travel.

If you book airline tickets and don’t check the expiration date, you could face a stressful situation in the days or weeks leading up to your trip departure date. You could also lose money on prepaid travel costs if you can’t travel as planned. Here’s what you need to know.

Be prepared for international travel to avoid losing money

So, you recently booked airline tickets for an upcoming vacation to another country? That’s fantastic news. It can be so exciting to explore a new-to-you international destination. But don’t forget to look at your passport before planning the ins and outs of your itinerary to ensure your passport isn’t expiring soon.

Even if you have a few months left, you’ll want to confirm the expiration date to ensure you won’t need to renew your passport before departing. Many destinations require international travelers to have a passport with at least six months of validity. If you’re headed somewhere that requires this and your passport is valid for less time, you won’t be able to visit.

Many airlines alert travelers to this in advance if they enter their passport details when booking their tickets or shortly after buying them. But if you wait until check-in to add your passport details, you may find out too late that you won’t be boarding the plane as planned.

As part of your trip-planning process, review passport and visa requirements BEFORE booking airfare, accommodations, or other travel reservations. Doing this can help you avoid losing money on prepaid travel expenses.

How to research destination requirements

If you’re planning a trip abroad, you can easily review passport requirements and visa requirements for the destination you’re planning to visit. The best way to get accurate and up-to-date information is to visit the U.S. Department of State website.

You can search for your destination and review the requirements. You can check out passport details, learn whether a visa is required, and find other information, such as whether it’s recommended or required to get certain vaccinations before traveling.

If you need to renew your passport or obtain a visa to travel to your vacation destination, budget accordingly to ensure you can afford these additional travel costs. You don’t want to stress about your finances while on vacation because you didn’t plan ahead to cover your expenses.

Allow plenty of time for passport renewal

Finally, if you need to renew your passport before your next trip, allow extra time for processing. The U.S. Department of State website provides the current estimated processing times for new passport applicants and passport renewals. You can pay additional fees for expedited service. Remember, these are only estimates, so plan accordingly and allow extra time to play it safe.

Earn rewards on your travel bookings

As you plan your trip, consider the best way to pay for your expenses. Using credit cards that earn rewards is a smart strategy. You can earn points, miles, or cash back and redeem your rewards for free travel in the future. Check out our list of the best travel rewards credit cards to learn about the top features of these cards.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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While CD rates are competitive right now, I’m opting for simpler investments or those that can earn better returns. See why you may want to do the same. [[{“value”:”

Certificates of deposit (CDs) are offering some pretty great rates right now. There are numerous offers with rates topping 5.00% and some CDs are paying as high as 5.15%.

Despite these impressive yields, I’m absolutely not interested. Here are some key reasons why that’s the case.

1. I don’t want to deal with the hassle of investing in CDs

When it comes to managing my money, I’m a pretty lazy person. I’ve automated as much of my financial life as possible, transferring money automatically to my savings accounts and bills so I don’t have to think about it. I don’t change savings accounts all the time to chase the best rates, and I don’t participate in complicated credit card rewards programs where I have to keep track of different bonus categories.

Since I like to keep things simple, I’m just not interested in dealing with the hassle of investing in CDs.

Most of the best rates right now are on CDs that have a term of two years or less. CDs with longer terms are paying close to the 3.00% to 4.00% range. So, to get the very best rates, I’d have to research my options, buy a CD now, then deal with moving the money elsewhere in a year or so to avoid having my CD auto-renew at a potentially lower rate.

Alternatively, I can just leave my money in the high-yield savings account I already have. It’s paying around the same rates as those long-term CDs. Sure, my rate could fall if the Federal Reserve lowers interest rates, but I don’t think that’s going to happen for a while. And even if it does, the effort involved to squeeze a little bit extra out of the money I have in savings just isn’t worth the time and effort.

Unless you have tens of thousands of dollars in savings or you enjoy poring over bank offers and want to do it every few months or so, the extra returns a CD may offer over a savings account may not be worth your time either.

2. I’m not OK with locking up my short-term savings

I also don’t want to commit my money to CDs. CDs require you to agree to leave your funds invested for a set term. But like most people, I just don’t have a lot of money in a savings account that I don’t need for something else.

I have a vacation fund, an emergency fund, and a car and home repair fund in savings right now. I can’t commit to putting that money into a CD and not being able to get it out if I need it for unexpected expenses or I can get a good deal on a trip. That money should be accessible to me.

The reality is, money in your savings account usually isn’t an investment. It’s being saved for something specific and that is its purpose rather than to maximize your return. Now, you may have a situation where you do have money in short-term savings you absolutely won’t need for a few years. If so, then maybe a CD might be worth your while. But that’s not a very common position to be in.

3. I’d rather earn higher returns on my long-term investments

Finally, the last big reason I’m not touching CDs is because my longer-term investments are in an S&P 500 index fund. I’m expecting it will earn me 10% average annual returns over the long run — the historical average over the past 50 years, and double what CDs are paying.

Any money you’re OK with locking up for a while is likely going to do better in the market, as long as you have a long enough investing timeline to wait out any potential downturns. If you can leave the money invested for a couple years, buying a CD and capping your rates — even at a generous 5.00% — doesn’t make a whole lot of sense.

For all of these reasons, I’m not touching CDs — and you may not want to either.

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We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.JPMorgan Chase is an advertising partner of The Ascent, a Motley Fool company. Christy Bieber has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends JPMorgan Chase. The Motley Fool has a disclosure policy.

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Want to stretch your legs on your next flight? Here’s how the best travel and airline credit cards help you avoid cramped conditions in basic economy. [[{“value”:”

If you try to save money by buying a basic economy airline ticket, it might cost you in other ways. Basic economy airfares can be cheap, but they also bring hassles — less legroom, no checked bags, and sometimes (on U.S. flights), no free carry-on bags.

Want to have a more enjoyable experience as an airline passenger? Sometimes legroom is worth paying for. The best credit cards can help.

Here are a few ways that perks and points from the best travel credit cards can help get you more legroom on your next flight.

1. Get a free checked bag with airline credit cards

The best airline credit cards offer a free checked bag. Just being a member of an airline frequent flyer program and signing up for an airline credit card can help you avoid the hassle and extra expenses of baggage fees. And getting a free checked bag can also give you more legroom on the plane.

As an air traveler on most U.S. domestic flights for major airlines, you’re typically allowed one carry-on bag and one small personal item (like a laptop bag or backpack). When you check your carry-on bag (for free) instead of cramming it into the overhead bin, this can let you stow your personal item in the overhead bin — freeing up more space under the seat in front of you. Bonus legroom!

2. Buy a better airline ticket with credit card points

When you sign up for the best travel credit cards, you can earn credit card reward points that can be used to book travel. This is like building up an extra, separate “savings account” of alternative currency that you can use just for buying airline tickets, booking hotels, and more.

If you’re a longtime budget air traveler (like me), sometimes it’s hard to overcome the reflex of just buying the cheapest, basic economy class ticket — even if buying a higher-class fare (like premium economy) would make your flight more comfortable. If you don’t want to spend hard-earned cash to buy a higher fare class, redeeming points for a better plane ticket could feel easier. Spend the points! Treat yourself!

3. Use credit card points to upgrade your seat

Another way that travel credit cards can help improve your flight experience is by giving you an easy way to upgrade your flights. Many airlines will let you use frequent flyer miles to upgrade flights — for example, upgrading from economy class to premium economy, or even to business class.

The best travel credit cards let you transfer your credit card rewards points to partner airline frequent flyer programs, and immediately convert your points to frequent flyer miles. Then you can use the points/miles to upgrade your plane ticket to a more spacious part of the plane with better legroom.

Based on the airline, flight date, and overall demand for the higher-priced seats, you might get a better deal by redeeming your points for upgrades. For example, you might find an opportunity to upgrade an airline seat for 30,000 points (converted to miles) that would have cost you $400 of cash.

Bottom line

On your next flight, the best travel credit cards can help you avoid suffering through cramped legroom and extra baggage fees. Earning credit card reward points gives you a powerful way to treat yourself to an upgraded airline experience. Sometimes it’s easier to splurge with credit card points instead of paying with cash — and airlines might offer good deals on upgrades that make your points worth more than you expected.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.

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Starting a business comes with enough costs. Learn how to get the word out about your business without paying for advertising. [[{“value”:”

There are a lot of hurdles to starting a side hustle, but one of the biggest is learning how to draw in new customers. Paid advertising is one option, but it’s not feasible for all new business owners. If you’ve spent a lot on inventory getting your business up and running or it’s just a part-time venture you’re using to bring in a little extra cash, spending money on advertising might not feel like a good investment right now.

Fortunately, there are plenty of free ways to get the word out about your business. Here are five for you to try.

1. Targeted apps

Apps built to connect certain types of business providers with customers can do a lot of the heavy lifting for you. For example, if you want to start working as a dog walker, you could join a dog-walking app that can connect you to people looking for someone to walk their dogs.

Some of these apps may have a one-time registration fee, but you can just charge this to a business credit card. Then, you can get connected with others in your area with no additional work on your part. Of course, you always want to read the fine print on these services. The platform might take a cut of your profits, and that could affect how much you decide to charge for your services.

2. Social media

Practically everyone is on social media these days, so it’s a great place to get the word out about your business. You can even make a dedicated page for your company and invite your friends to like and share it.

Doing this is free, though you’ll still have to do the work of creating posts and responding to questions from potential customers. It takes a bit of practice, but for many, it’s time well spent. Be careful about posting in social media groups, though. Some have rules that prohibit members from advertising goods and services.

3. Word of mouth

Perhaps the oldest form of advertising, word of mouth also remains one of the most powerful. It’s tough to beat a great testimonial from a satisfied customer. Plus, when others spread the word about your business, it can help you reach a much larger audience than you could on your own.

If they’re willing, encourage family and friends to pass your name along to anyone who might be interested in the goods or services you have to offer. You could even offer referral bonuses to existing customers who send you new customers as a way to incentivize getting the word out.

4. Flyers

A lot of businesses have bulletin boards that advertise other businesses and upcoming local events. They might be willing to help you advertise your side hustle as well. Technically, this one isn’t free, but the cost of printing flyers shouldn’t be too hard on your bank account.

Go around to local businesses and ask if you can advertise your services. Remember to always be polite and make sure your flyers have all the information a potential customer would need to know what your business does and how they can contact you.

5. Local events

Depending on the type of side hustle you have, local events can provide an opportunity to meet with new potential customers. For example, if you make jewelry, you could participate in local craft fairs that get your pieces in front of new faces.

Scout your neighborhood events calendar and check out the calendars for other nearby towns as well. If there’s anything that seems as if it might be a good fit for you, reach out to the organizers to figure out how you can get involved.

Choose one or two of these strategies and give them a shot for a little while. Once you see the effect they have, you can decide whether they’re worth continuing or whether you want to try a different approach to finding new customers.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Kailey Hagen has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Target. The Motley Fool has a disclosure policy.

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Planning to transfer your travel credit card rewards to an airline or hotel partner? Find out what steps to take before you transfer your points or miles. [[{“value”:”

Earning rewards when swiping your credit card is an excellent strategy. With a travel credit card, you can redeem your rewards for travel purchases, making an upcoming vacation cheaper.

If you have a travel rewards credit card that allows you to transfer your rewards to travel partners, there are two steps you should take before transferring them. Here’s what you should know.

Some cards allow you to transfer your rewards to travel partners

Some travel credit cards give cardholders multiple ways to redeem the rewards they earn. One redemption option may be to transfer your points or miles to select airline or hotel partners.

Transferring your rewards could be an excellent way to get more value. You can transfer your rewards and book flights or hotel stays. This redemption choice may provide better value, allowing you to stretch your rewards further and save more on travel costs.

But before you rush to transfer your rewards to an eligible travel partner, ensure availability for your award flight or hotel stay booking. You should also research all costs to know what to expect before you finalize your redemption. Here are the steps I suggest you take.

Step one: Search for availability

Whether you’re hoping to use your rewards for a flight or hotel stay, you’ll want to research availability first. Search for your desired flight or hotel with your preferred dates to see if bookings are available. You can log in to the travel partner’s website to do this.

Why is this an important step to take? Once you transfer your rewards to a travel partner, you can’t transfer them back to your credit card’s issuer’s rewards program. The last thing you want to do is find out there is no availability and be forced to use your rewards with one partner.

As a heads up, many travelers book award flights six to 12 months before their trip. If you’re looking for last-minute availability, you may need to adjust your trip plans.

Step two: Review all prices

The next step is to review all costs associated with your intended booking. Most credit card reward hotel bookings don’t charge additional taxes and fees. However, if you’re making a redemption with points and cash, you may be charged additional taxes and fees.

If you use your rewards to book an award flight, expect to pay taxes and fees. Costs start at $5.60 per one-way flight for flights flying out of the United States. But these expenses can vary significantly depending on the carrier and the airport you’re flying in and out of for your flights.

These fees can easily cost hundreds of dollars in addition to the points or miles required to book your award flight. Researching the total cost before you transfer your rewards is wise. This way, you don’t end up with a big surprise when you get to the checkout screen.

Strategize before using your credit card rewards

It pays to strategize the best way to use your credit card rewards. As you earn rewards, review your available redemption choices to see if there’s an option that offers more value. You worked hard to earn your rewards, so finding a way to stretch them is beneficial. If you’re looking for a credit card that earns travel rewards, check out our list of the best travel credit cards.

Alert: highest cash back card we’ve seen now has 0% intro APR until 2025

This credit card is not just good – it’s so exceptional that our experts use it personally. It features a 0% intro APR for 15 months, a cash back rate of up to 5%, and all somehow for no annual fee!

Click here to read our full review for free and apply in just 2 minutes.

We’re firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers.
The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Natasha Gabrielle has no position in any of the stocks mentioned. The Motley Fool has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy.

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