Want to travel the world for a while?
Or just take an epic vacation?
It is not necessary that you need too much money but the only thing to remember is that you need to get creative about save money on travel. Before you start traveling the first thing that you need to do is a currency conversion.
When you are planning to travel to a foreign country, you must exchange the currency into the local currency. Most of the countries accept their own currencies and not US dollars.
Exchanging foreign currency falls into two categories;
When you go on a trip abroad, you need the currency of the country you’re going to go to. Here you’d exchange your Indian Rupee for that particular foreign currency.
Ex: Going to Europe, by exchanging your Indian Rupee in hand, you’d be buying the Euros. This is called buying foreign currency.
Coming back from a travel trip you may some foreign currency left in your pocket. You’d like to exchange the foreign currency in your hand for the Indian Rupee here. This is called selling foreign currency.
The hardest part about traveling is figuring out the money. Knowing how you will manage your money is essential to safe travel and will save you plenty of trouble.
Budgeting is the most important part of the travel plan, after the finalization of the destination. Once you make your plan, you can avoid overspending as you will have a proper plan about where you are going to spend your money.
While planning considers a few things such as how many days you will stay, how much money you will spend each day etc.
Remember to divide money in terms of how much you are going to spend on stay, food, sightseeing, and shopping. This way, when you run out of money in a certain section, you will know and start spending accordingly.
This is among one of the best ways of money management while traveling. A lot of terms and conditions come from foreign airlines.
Some airlines offer free baggage, but the cost of their flights is high, while others have cheap air tickets, but have extra baggage costs. You can ensure that you don’t spend a lot on air travel by carefully handling money while flying.
The way to overcome this is by choosing the budget airline that allows you to carry your baggage without any extra cost, travel light, and just choose baggage that you are going to carry on with you instead of depositing it at the airline luggage counter.
Getting a cell phone plan for your international roaming is very normal but have you thought about a credit card with no foreign transaction fee?
Yes, there are credit card companies that do not charge for your internal usage.
There are different features, benefits, and fees for credit cards when you use them. You may have a few cards in your wallet already but they may not be the best for traveling abroad.
For international travel, consider opening an account with one of the best credit cards.
A card without international transaction fees is the key thing to look for. Of course, you should never open a credit card if you believe you’ll have to keep a high balance on it. That could end up costing a lot more than foreign fees for you.
You can use the sharing economy to find yourself cheaper accommodation, a quirky tour guide, and home-cooked meals with local chefs.
Try to connect with local people as they will help you find cheap local markets, stores that give the best offers, the best restaurants with tasty food at a cheap price, and much more. Talking directly to them gives you access to that knowledge.
Below we have mentioned a few websites that have changed the travel game:-
Airbnb– This website can help you find budget accommodation.
BlaBlaCar– A ride-sharing private car service that links you to private car drivers who have additional car seats in their car.
EatWith – Platform that connects you with local cooks serving private meals.
RVShare – This site will help you rent RVs and camper vans directly from locals.
Turo – A car-sharing marketplace that lets you rent vehicles from locals.
This may seem odd but if you have an option then cook your own meals. It is one of the best ways to save money on travel. For a week’s worth of groceries in California, we once spent USD 60 instead of an average of USD 15 per meal!
That is a USD 150 saving. There are several guesthouses, Airbnb accommodations, and hostels, campsites that have their own kitchen and will allow you to cook your own food.
Oh, no kitchen?
Pack a container and cutlery of your own and make some sandwiches and salads on the go. It doesn’t need a stove for every meal that you eat.
Just because you’re traveling doesn’t mean that you have eaten every meal in a restaurant. When you decide not to eat out one day, you will not ruin your trip in any way.
On your trip, there’s absolutely no need to waste lots of money on food.
If you are traveling to Europe then getting a rail pass is the best option to travel at the cheapest rate. Rail travel is always cheap and it will help you save a lot of cash.
Also, you get to visit a lot of hidden places in a country when you travel via a rail route.
The cheapest paying accommodation out there is the large hostel dorm rooms. If you don’t like Couchsurfing, this is the cheapest way to save money on travel a place to sleep.
The larger the dorm, the less expensive it would be. Although a dorm of 4-6 beds can give you more privacy, a dorm of 12-18 beds will be a bit cheaper.
Above we have discussed a few tips and tricks that can help you save a lot of money on travel trips. Just stick to your plan and you will find that your budget will remain intact.