Wealth check: How to prepare for the trip of a lifetime Independent
The patient
Jennie Hill, 28, from north-west London, is planning the trip of a lifetime. Once the trainee clinical psychologist's current role ends in September, Jennie is all set to travel the world for six months.
"So far I have saved £4,000 for travelling," she says, "But given that saving rates are low at the moment, I need to know how to maximise my returns short-term so I can save for my trip in the most effective way.
But Jennie also needs to be able to manage her money while she is away. "I'd like to know the best bank to be with while I am away," she explains. "I know that Nationwide used to do free withdrawals abroad but no longer do this. I don't want to carry too much cash on my person while I travel, but also don't want to pay high fees to withdraw my money."
The cure
Jennie's top priority is to save as much of her monthly income as possible into her travel fund, but her financial planning shouldn't come to a halt while she's away, warns Duncan Carter, an independent financial adviser for Clearwater Financial Planning.