Traveling is expensive and it always a good idea to watch how much you expend towards your travels. The idea is to have fun and enjoying seeing new places you have never been. It will also expose you to cultures, practices, and traditions you may have never imagined existed. However, getting the chance to experience all these should not be a ticket to poverty. Again, you also need to be financially prudent when you spend your money on your trips.
You don’t want to be careless that you will finish all your money before the trip is over and get stranded, or begging your friends and relatives to have mercy on you by sending you some money. Here are a few tips on some of the things you can do to ensure the most prudent use of your travel budget-:
Start by making a budget
The easiest way to deplete your travel budget in the first few days have a miserable trip is to not have a budget in the first place. It is imperative to have a very clear budget that will outline every expenditure you anticipate to incur, including the exact figures of what you intend to spend. A budget will not just narrow your focus to spend your money on the things that will matter most during the trip, but also it will let you know what you will be able to afford and what will be beyond your reach beforehand. It will make you become very responsible for your spending and this will make you have a pleasurable trip without worrying too much about the money.
Unless you can’t avoid it, you should always travel with the least possible luggage, preferably just a carry-on bag alone. Most people have ended up parting with extra luggage fees because they decided to carry their entire wardrobes for trips and the airlines had to charge them for the extra cargo.
This is money you can spend on other things or use to enhance your travel experience during the trip. Or you can just save it and put it to other uses once you come back from the trip. Traveling light is also advantageous because it makes you more convenient and fast since you won’t have to wait for luggage coming with the next flight or you have to walk slowly because the bag is too heavy.
Discover the hidden costs in your travels
You should always be aware of what you will be paying for when making your bookings. When it comes to flights, hotels, and accommodations, most of the service providers are fond of having hidden costs that might end up compelling you to pay me and spend what you have not budgeted for.
Be sure to check what is included and check all the extras or upgrades just to be sure you are not getting into any traps. Also, ask about cancellation policy and know how much that might cost you should decide to change your mind about the service and opt for another.
Get travel insurance
If you plan for everything for the entire duration of the trip, but you fail to include a travel insurance, you may be setting up yourself for an embarrassing financial situation should there be an emergency. There are so many things that can go wrong during a trip which might end up upsetting you financially, and most of them can be adequately covered with the help of a travel insurance. If your flight delays and you miss your connecting flight, you are bound to spend extra money on tickets.
If you fall sick and need emergency medical care, you may be appalled by the cost of medical services in foreign countries, and also if you are faced with a family emergency back at home which requires you to cut short your trip, you will be spending more money on the air tickets. If you don’t have a travel insurance, you will have any financial cushion for such unseen circumstances. Therefore, be sure to go for a travel insurance while you apply for your visa or Canada ETA should you be planning a visit to Canada.
Stay in Airbnb or hostels
Instead of going for conventional accommodation in bed and breakfast, which will not just be expensive, but also limiting in a number of factors, you should consider going for Airbnb rentals or hostels which will be way cheaper than hotels and will accord you more room, flexibility, and amenities, including the kitchen. Airbnb or hostels are the way to go if you are looking to get the most out of your travel budget. This is because hotel accommodation are always expensive and sometimes you will not get good value for your money, depending on the hotel is and what you will be getting with the package you got.
Know what transportation to use under different circumstances
The cost of transportation is another area where you may end up spending a lot of money if you are not careful. There is always the temptation to travel comfortably – which is a good thing but will always leave a considerable dent in your pocket. Using Uber or taxis can be very expensive for solo or group travelers going on long distances.
A true way to save on transportation when traveling is to use the public transport systems. They may not be the most convenient options, especially in third world countries, but they are sure to save you a lot of money and you can find some that will be decently comfortable for your needs.
Take the long way
If you have time on your hands, don’t be in a hurry to do certain things that may prove to be very expensive. For example, instead of taking a flight because it will take you to your destination, take a bus or train. You will take longer, but you will be treated to some awesome views along the way which you couldn’t get when on a flight.