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TRAVELING ON A BUDGET: HOW TO SAVE MONEY

Photo by Timo Stern

Travelers make many considerations when traveling. One common one is how to have fun between flights – some people choose to play puzzles, others listen to music, and others play casino games. The latter option has become more common with travelers, especially when it comes to real money casinos, as they offer variety and convenience. Once you have figured out how to play games as you wait for your plane, many people also think of how they can save money. And if this is on your mind, we have some ideas you will love:

Saving Money While Traveling

The allure of traveling is so great that many people jump right in and deal with the consequences later. But you can have your cake and eat it by ensuring you stay within your financial limits by making the following choices:

1.    Have a Strict Budget

Tourists often come across many enticing things – attractions, restaurants, souvenirs, etc. And when you do not know how much you should spend, it is easy to keep swiping your card. By the time you return home, you may have spent twice as much as you could afford. You can avoid this by making the following simple choices:

  • Determine what you can afford: Look at your finances and figure out how much you can spend on a trip without hurting your finances, e.g., you may have $1,000 to spend.
  • Stick to that budget: Find accommodation, tickets, and activities that match your budget. For example, you can spend $400 on airfare, $300 on accommodation, and $300 on food and activities.

Remember to have a 10% contingency, which can cover unexpected costs.

2.    Book Your Flight Early

Have you heard of surge pricing? It often affects travelers who book their tickets close to their travel dates. Airlines price tickets based on demand and supply. As such, the closer you are to your departure, the more demand there will be for the tickets and the more you will pay. You can pay $500 for a ticket, yet the person next to you paid $300! The easiest way to avoid this is by booking your ticket months before you travel.

3.    Avoid High Seasons

Many people travel during the high seasons and often target the summer months. Following this trend will hurt your pockets in the following ways:

  • The flight tickets will be higher regardless of whether you book them early,
  • Accommodation will be hard to find, and you will thus pay more than you would in other seasons, and
  • Tourist attractions will cost more due to the demand.

Additionally, bagging a bargain will take a lot of work as most tour operators will have many people requesting their services. An easy way to avoid this fate is to travel in the low season when you have more options at lower prices.

4.    Try Hostels

If you look at your travel costs, you will note that a significant percentage covers your accommodation. Your entire trip could cost $2,000, and $1,000 might be just for bed and breakfast costs. You can save money by staying in a hostel as this comes with many advantages:

  • They are cheaper as you often share amenities with other guests,
  • They are generally safer as they feature communal living where guests respect and watch out for each other,
  • They are a great place to meet other people and can set your foundation for the trip as you can join group trips and save money, and
  • Their owners often guide you on where to go, where to eat, and what to do for low prices.

You can spend half of what you would have spent on a hotel and still have a great time.

5.    Get Insured

The most important thing for a budget traveler is good travel insurance. It helps you cover unexpected costs, e.g., injuries, illnesses, and loss of baggage. And when you don’t have to worry about such costs, you can feel more relaxed about being on a tight budget.

Comparing your options also helps you gauge what gives you the most value for your money, e.g., when eating out.