These Qapital Travel Tips Will Save You Time and Money

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Qapital helped thousands of users travel to amazing places last year! The money management tools you have come to know and love for smart saving and spending in your everyday life can help you achieve the same control and freedom when you take off on an adventure.

Whether it’s a solo hiking trip halfway across the world, a romantic getaway in a foreign city with your beau, or a road trip upstate to your aunt’s farm with the whole family… Qapital app has got your back.   

Here are some handy tips to help make your next vacation a success.

1. Pack your Qapital Visa® Debit Card.

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No matter where you choose to go, make sure you bring your Qapital Visa® Debit Card* with you. We charge ZERO foreign transaction fees* for using your Qapital Visa® Debit Card abroad.

And you can use your Qapital Visa® Debit Card’s Weekly Spending Target tool to stay on budget. Just adjust your target amount to fit your travel budget and the Qapital app will automatically track what you spend on your Qapital Visa® Debit Card. We’ll send you routine notifications so you know exactly how much you’ve spent and how much you have left to spend at anytime with the swipe of your finger. (You can even exclude purchases unrelated to your budget!)

Built-in fraud monitoring keeps your chip-enabled debit card safe 24/7. And if you think your card may be lost or stolen, you can remote lock it at any time within the app.

If you don’t yet have a Qapital Visa® Debit Card, sign up today!

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2. Set up a Goal for yourself with an image that excites you. You’ll be twice as likely to reach it!

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Numerous research studies have shown that visualizing a goal increases your likelihood of achieving it. That’s why we let you choose your own Goal photos to remind yourself exactly what you’re saving for and why. It’s so much easier to save when you are looking at an image of something that matters to you — like a snapshot of that villa on the Amalfi coast you want to visit again — rather than a number on a screen.

Stay excited. Stay motivated. Stay on course.

3. Set up Shared Goals with your travel buddies and reach your destination even faster.

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Not the solo-journey type? Love to travel with family and friends? Then a Qapital Shared Goal is exactly what you need to plan your next trip.

With Shared Goals you can set a Savings Goal with other Qapital users, choose your individual and/or collective Rules for saving, and watch your money pot grow. You can even chat with the other members of your Shared Goals right in the app!

Set a Shared Goal with…

  • your sister for a trip home to surprise your parents for their anniversary.
  • the other bridesmaids for the Vegas bachelorette party you’re planning.
  • your partner for that romantic weekend getaway to Paris you’ve always talked about.
  • your old classmates for a reunion canoe trip down the Delaware River.
  • your roommate for that hardcore hiking trip to Machu Picchu you’ve been dreaming about.

The possibilities are endless.

4. Go somewhere amazing. Go somewhere unforgettable.  

Don’t know where you want to go? If you need a little inspiration, take a peek at the most popular overseas travel destinations among Qapital users in 2017.

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FIJI ⬥ COLOMBIA ⬥ VIETNAM ⬥ JAPAN ⬥ FRANCE ⬥ HAITI

Don’t want to leave the country? There are plenty of thrilling trips to take right here in the States! In fact, most Qapital users’ top travel spots last year were right here in the U.S. of A.

adult-book-business-297755PORTLAND ⬥ BOSTON ⬥ NASHVILLE ⬥ NEW YORK  ⬥ LAKE TAHOE ⬥ DENVER ⬥ LOS ANGELES ⬥ ATLANTA ⬥ SAN FRANCISCO  

Happy travels!

* Issued by Lincoln Savings Bank, Member FDIC

**Qapital does not charge foreign transaction fees on purchases you make abroad with your Qapital Visa® Debit Card, however Visa® and international vendors sometimes do. Please note that if you use your Qapital Visa® Debit Card internationally, Visa® may include an International Service Assessment (ISA) fee of up to 1% of the total transaction amount.

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Why A Weekly Spending Target Is The Best Budget To Have

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Creating and sticking to a budget can be hard. If you’ve ever felt too intimidated, too anxious, or too lazy to budget your money, you’re not alone. That’s why we challenged Qapital’s team of behavioral economists to design a more simple, more effective way to budget. The results? We’d like to introduce you to our Weekly Spending Target feature.

Do you ever contemplate what you should spend instead of what you could spend on a regular basis? A sustainable budget will comfortably pace the spending of your paycheck. But harmful budgets that encourage you to overspend (paying money you don’t have or need for unnecessary expenses) or underspend (limiting your ability to sustain the quality of life you deserve) hold you back from financial freedom. If you don’t feel balanced or in control, then you can’t be honest with yourself about your money.

That’s why we designed our Weekly Spending Target to let you customize a budget that fits your spending habits and income. It will automatically send you notifications that keep you updated throughout the week so you always know how you’re doing. You can adjust your target amount at any time so you have the flexibility to learn and grow with your spending habits.

How are we so sure we’ve made smart spending easier? Because we asked our Chief Behavioral Economist, famed researcher and professor Dan Ariely. If you have budgeting questions, he has the answers—and we built our Weekly Spending Target with those answers.

Qapital: Why should a budget be weekly? Why not set it monthly or yearly?

Dan Ariely: “If we have a yearly budget—let’s say $50,000—we’ll run out of that money way too soon. A monthly budget makes sense for some things—it fits the bill of rent and so on—but most of our discretionary expenses* are either weekly or daily.”

“We certainly need a monthly budget for monthly expenses—rent and so on—but for discretionary spending*, it’s much much better to have a weekly budget. In fact, some studies show that even if you have a two-week budget, people spend way too much in the beginning and don’t have enough by the end. So if we want to spread our money correctly, the right framework is to think about a week.”

Q: When should the week start?

Dan Ariely: “Should the week start on Friday or should the week start on Monday? Well, on the weekend we have more discretion. We can expand our spending [because] there are so many more things to do on the weekend. In fact, when you work, life is quite cheap; you don’t have enough time to spend all your money. But on the weekend, when you have more [free] time, you can expand your spending dramatically. It’s something to look forward to.”

“So what’s the right approach? If our week starts on Friday or Saturday, we end up spending way too much on the weekend and are left with no money by Wednesday or Thursday. But if we start on Monday we save some of the money because we want to keep it for the weekend, and then if we don’t have that much leftover it’s easy to shrink our amount spent over the weekend.”

Q: Should my budget have categories?

Dan Ariely: “The answer is yes only if you’re perfectly rational and if you enjoy budgeting. While it’s reasonable to have a budget for multiple categories, most people won’t stick to them. You don’t want to go for something that’s perfect, you want to go for something that is doable. For that, I recommend the strategy of creating one budget for all your discretionary spending.”

“Think about all the things you could live without. For example, grocery shopping is not one of those things. You can’t live without food. But take all the things you could live without, put them in one bucket, then think about what amount you want to spend on that category per week—coffee, drinks, going out, entertainment—and then think of that as a separate category, as a holistic category, without breaking it into components.”

The Weekly Spending Target tool is available only for users with a Qapital Visa® Debit Card. Sign up for a (free) Qapital Spending Account today and set a budget you can feel confident about.

This interview has been edited and condensed for clarity.

*Discretionary spending: non-essential purchases for things like leisure and entertainment.

 

 

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