Establish a daily budget
One of the most effective ways to budget whilst you travel is by establishing what you can realistically spend on a daily basis. A daily budget is the best way to account for where your money is actually going, so you’re not surprised by being out of pocket before your holiday ends.
Make sure you consider absolute necessities such as flights, accommodation and food and drink, alongside the extras such as leisure, souvenirs and other things you pick up along the way. Be sure to leave some money aside for unexpected fees and costs, too.
Exchange your money before you go
If you wait until you’re at your destination before exchanging your cash into the local currency, you’ll almost definitely not get as a good a deal as you would back at home.
Shop around to find the best exchange rates without complication at home, and then bring that currency away with you knowing you got more for your money. Consider a prepaid travel card to keep your converted money upon, as it’ll act as a normal debit or credit card once you’re away, and you won’t have to carry around large wads of cash.
Stay in hostels
Despite any existing preconceptions you may have about hostels, there’s one of the cheapest choices of accommodation around the world—and with that comes a clean and comfortable environment to rest your head.
Realistically, you won’t be spending much time in the hostel, so you needn’t worry about the quality of accommodation if price is your main concern. As an added bonus, you might meet some new friends during your stay.
Book things in advance
By booking the activities and things you want to see in advance, you may score deals you won’t get by booking on the day. Search around online for vouchers and exclusive deals that’ll cut the costs.
Another positive: booking in advance will help you organise your trip better, and effectively will guarantee you see everything you want to see.
Avoid being scammed
Scams are one of the biggest issues people face when travelling, whether it be being short-changed or ripped off in a marketplace or simply stolen from without being aware of it.
Haggling is one such way to avoid being scammed. If the price you’re being offered seems way too high, be confident and negotiate. Vendors often try their luck with tourists assuming they won’t know any better, so remember to remain vigilant and cautious of what you’re paying.
Travel out of peak times and seasons
It goes without saying, but by travelling out of season you’ll avoid the peak prices paid by those who travel in busier periods. Shop around and be flexible with your dates and you’ll absolutely score a better deal on your trip.
Some other tips to remember:
- Flying on the weekends is more expensive than weekdays;
- Be sure to fly during the night for the very best prices;
- Having a layover between flights could also cut costs (but increase travel time).
Work whilst you’re out there
Why not get a job if you’re travelling long term? Whether it’s bar work, helping out at a school or even blogging (it pays well, believe it or not), there’s always opportunity to make an income as you travel. It’ll eliminate monetary worries, and you’ll be able to fall back on it should you find yourself spending more than you actually should.