Highlights in this issue:

*** My #1 tip to surviving a date with an industry shark…
*** Live like the super rich – for half the price …
*** One of the cleverest opportunities to cross my desk in a long, long time…

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From the pen of Karin Iten…

Dear Investment Academy Reader,

Check the date! Now I know this might scare you, but did you realise the Easter weekend is less than a week away?

If, like me, this realisation comes as a bit of shock, you’ll be glad to know it’s not too late to book yourself a well deserved break. And with my ten simple travel secrets, you won’t have to tighten your belt to do so either.

Tip #1: Don’t trust you agent
According to investigative journalist Kate Schneider, travel agents “may smile and seem like they are sharing the holiday joy with you, but from preying on those in grief to lying about cheap trips, travel agents can be just as cut-throat as the meanest in any industry that works on commission”.

Schneider’s advice: Treat a visit to a travel agency like you would a visit to your GP. Go to someone you trust. And like a visit to the doctor, remember if something doesn’t sound right, there’s no harm in getting a second opinion (and quote).

Tip #2: Be clued up about where you want to go
One thing you may not consider when you walk into a travel agency is dressing the part. But any agent will tell you that the more naïve and clueless you look, the more they’re likely to take advantage. And don’t forget to consider the agency’s surroundings either. An independent agency in a more affluent part of town is likely to charge you far more than one in a less wealthy suburb.
 
Tip #3: Charge your flight to your credit card
Travel agencies make a large part of their money off travel insurance – and they’re likely to try and sell you the highest package as a result. But, did you know most credit card groups offer travel insurance if you buy your plane ticket with your card? It sounds insane, but this simple transaction could save you up to 50% off the insurance cost. (Just remember to check with the visa regulations of the country you’re planning on visiting to ensure whether this insurance type is acceptable or not.)

Tip #4: Live like the super rich – for half price
I’ve found an amazing website that gives you the chance to book a luxury stay at some of the country’s most beautiful resorts and hotels for a fraction of the price. What the site (www.mtbeds.co.za) does, is give “ordinary folks” (like you and me) the chance to stay at 5-star quality resort by filling up vacancies at very short notice. For example, one night at the luxurious Zululand Tree Lodge will usually set you back R1,780 per person. But if you book through the website, you’ll pay just R940 per person (that’s an incredible 47% off the price). And because the site is regularly updated, you’ll be able to make those last-minute getaways something to remember – for up to half the price of a night’s stay at the establishment.

Tip #5: Know what type of traveller you are
“There are two ways to save money travelling,” says travel write Steve Gillman. “The first way is to get the best deals on the specific thing you want. There is a limitation to this type of approach, though. If, for example, you find the lowest price on the best hotel in Honolulu at the height of the season, you’ll save money but still have a very expensive vacation. Trying to get exactly what you want – or what you think you want – will generally be an expensive proposition. The other approach, is to be a good opportunist.” A good opportunist sniffs out the bargains and heads for them like a pig hunting truffles.

“How do you become an opportunist?” you ask. Well, according to Gillman you need to ask yourself a few questions. For example, Gillman suggests you consider whether or not you can drink rum at a dollar per bottle, instead of your favourite beer? Can you eat chicken instead of steak? And, when it comes to visiting the sights, would you opt for free events before coughing up your hard-earned forex? If you answered yes to at least two of these questions, you have the makings of a true opportunist.

Tip #6: Experience the tastes of the country – without all the trimmings
Whether you’re travelling here or abroad, it’s usually cheaper to buy something to eat at a local grocery store than it is to head for a restaurant every time hunger strikes. Personally, I can’t think of a better way to while away an afternoon than sitting at the Eiffel Tower in Paris with a fresh baguette and some Brie.

Tip #7: Do more and travel less
It’s often the travelling part that eats the most into your holiday spending. So if you find a place with reasonably priced accommodation and plenty to do in the area, stay there a while. You might also be able to negotiate a lower fee for staying in your room longer than a few nights.

3 ways to get the best out of your travel agent
1. Shop around and let your agent know it. They’re more likely to give you a better price if you do.
2. You don’t really need all the tours – see what you like when you get there and buy them straight from the tour operator in the city you’re visiting. You’re likely to get a better rate this way.
3. Get a price breakdown: Know exactly what you’re paying for. Never accept a total price – if you do, you’ll have no way of checking the price and negotiating a better deal.
 
Here’s to your financial freedom,

Karin Iten
for the Investment Academy