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Seeing the world is one of the most beautiful and rewarding ventures in life. Sadly, many people cannot afford to, or at least think they cannot afford to travel abroad. However, by implementing some money-saving tips, international travel may become a more realistic endeavor. Here are some of the most cost-effective ways to plan your trip.
Avoid Foreign Transaction (FX) Fees
The last thing you’ll want to do on an already expensive trip is to spend more money when you don’t need to. Just like with an ATM back home, nobody wants to pay a fee to access their own cash, it’s the equivalent to flushing it down the drain. Even though you’re traveling abroad, this shouldn’t change! Whereas many banks may charge 3% or more to exchange currencies on purchases, you can save money by choosing a spending account with no foreign transaction fees.
When exchanging foreign currencies back to U.S. Dollars (USD), spending the equivalent of $1000 USD with a 3% FX fee will incur a cost of $30! These extra savings could be applied to meals or souvenirs.
Travel in the Off-Season
Traveling during off-peak seasons can be beneficial in several ways. Not only will you experience the leisure of smaller crowds at tourist attractions, but you can also find plenty of deals. The simple concept of supply and demand applies to this idea. As availability decreases, the price of airfare and lodging increases.
By factoring in the peak season based on the destination, weather, and holidays, you can find the cheapest flights and hotels available. If you’re traveling as a family, you should also consider academic calendars, and try to avoid popular family destinations during school breaks. Finding cheaper options for airfare and lodging could save you hundreds of dollars per person.
Pack Snacks Before Leaving
Food is one of the most constant costs when it comes to travel; the total increases day-by-day the longer your trip lasts. Certainly, you’ll want to try the local cuisine of your destination, but you can cut your costs drastically if you limit the amount of food you’re buying. Packing cheap snacks can help you stave off hunger before meals, making you less inclined to spend money on street food as you go. You may possibly cut down on your overall meal total too.
Optimize your packing experience by avoiding snacks that require refrigeration, using Tupperware to protect delicate foods and trying these other tips. Once all the food is gone, you’ll have more room in your suitcase to pack souvenirs that may have previously put your luggage over the weight limit. Another way to avoid more fees!
Go Easy on the Souvenirs
Everyone wants to buy souvenirs to remember their trip, but you should really make it count. When purchasing a souvenir, think to yourself: “Is this something I really want or will it end up sitting in a box at home?” The best way to keep your souvenir spending in check is to create a budget before you even leave. If you know how much you can afford to spend on souvenirs, you can better track your costs and avoid impulsive spending. Other ways to save on souvenirs include choosing cheaper options like postcards or taking a lot of photographs.
Tell me how do you save while you travel?