what could be the eventualities that can crop up while travelling?

Answer 1

So many, but lost objects are the worst. Pickpockets are everywhere, and when travelling, we tend to not focus on safety. Keep copies of everything, passport, driver's license, etc. in case you lose your wallet.
Sickness, so a good travel insurance is a way to guarantee you won't lose your travel costs if you have to cancel. Out of 9 years of travelling around Europe, I used it only once, but it saved me over $1400. Worth the price.
Watch your costs. Tourists are easy to spot, and I was severely overcharged when in Rome, but only once. (I learn fast). :)
Also watch your change; again, we are having so much fun, that not paying attention to what you give the clerk, and what change you get back can be costly.
Sickness....which means you carry your information for your care if not near home.
Directions, if driving. Ask, ask, ask, or if access to a laptop/pc, yahoo. maps can direct you. If walking, ask, but if seems a bit too far, ask again. We were told, in France, to go straight ahead for two blocks to a restaurant area, and it actually was to the right, and not anywhere near where we were directed to go. We caught on right away, but if we didn't know this happens, we would have lost valuable time.
Menu items. Ask if you don't understand what the menu says. Also ask what the locals order; that can be a new adventure, if travelling outside of your home state/country.
Good luck, think ahead, and travel can be so much fun. RickSteve's books are good budget items to use to plan a trip, as are several others.