Tuesday, September 15, 2015

How To Stay On Budget When Travelling

Travelling can really hit your bank account hard. Here are a few tips so you can enjoy your vacay without counting every penny along the way.

People often only do research to find the cheapest flights and hotels but go on a spending spree while on vacation. Eating anywhere when you’re hungry, making purchases on a whim and taking expensive tours can drain your wallet fast. Here are some tips to help you plan better and keep your budget in check during your next vacation.

Find a coupon for it.

A simple Google search can get you promotion codes or coupons for activities, restaurants and entertainment in any city. Also check websites like Groupon, Living Social and WagJag for concert tickets, half-price dinners at fancy restaurants, boat tours and even spa deals. Make sure to plan your activities and look for coupons in advance before heading to your destination.


Splurge on one fancy feast a day.

Breakfast could cost you anywhere from $15 to $30, lunch about $20 to $40 and a fancy dinner anywhere from $60 to over $100. Why splurge on all those meals when you can spend that money exploring the city instead? Buy breakfast items like fruit, cereal and granola bars from a local grocery store and enjoy breakfast in your room (in bed or on your balcony). A lot of fancy restaurants offer extravagant dishes in the afternoon but at half the cost, so eat there for lunch and not dinner. And look out for places that have happy hour where you can get two for one drinks or half-price food.


Keep your partying in check.

A night out at a club or bar could cost you $100 or more. Find other things to do in the city at night and don’t spend that much money on partying every night. Look for promotions where your ride to the club, entrance, dinner and drinks are included in one package price to make sure spending doesn’t get out of control.



San Francisco
Photo Credit: www.RonnieMacdonald.com

Skip the cab.

Don’t spend all your money taking cabs. There are cheaper options like Uber and public transit (and buy daily, weekly or monthly transit passes). And don’t forget to walk; there’s no better way to take in the sights and sounds of a new place.


Look for same-day deals.

If you want to catch a Broadway show in New York City or London, for example, you can purchase half price tickets the day of the show. In Vegas, comedy shows, concerts and dance shows offer discounted tickets the day of the event.


Don’t pay for a picture.

Stay away from taking snaps with Vegas show girls — they demand a $10 tip for the shot. This also goes for people dressed up as movie stars in Los Angeles or cartoon characters at Time Square in New York City.



Las Vegas
Photo Credit: www.Keoni Cabral.com


Bargain! Bargain! Bargain! 

This is a favourite passion of South Asians. We don’t like paying full price for anything. If you’re buying souvenirs in bulk, don’t be afraid do haggle for a better price. Even when you are searching for a tour, ask around and don’t just settle for the first one.



Paris
Photo Credit: www.Fabrizio Sciami.com

Join a group.

Don’t be afraid to approach people waiting for a cab in your hotel lobby; maybe you can split the cost of the cab with another couple. Or you could get group rates for tour activities and museum or zoo entrances.

Budget tips for your next travels

he hardest part about traveling the world is finding the means to do it.
Or, if you do have the resources, it’s finding ways to keep your spending in control.
But we’re not interrupting your reverie - traveling is now more convenient and affordable than ever, so there’s no reason for you not to escape your daily drivel and fill your life with adventures, new sights, new friends, and new experiences. But to fulfill all these, you’ve got to be prepared.
Aside from your daily itinerary, maps and routes, and your #OOTD pack list, you should also plan ahead on how you’ll spend on your trip. You don’t have to be a cheapskate when you travel, but you don’t have to be an exorbitant splurger, either.
On your next bout of wanderlust, spend wisely. Here are some reminders to ensure a worry-free trip:

Booking flights, accommodations
  • If your travel time is flexible, check for the most affordable options. Flights tend to be cheaper on weekdays and on late nights/early mornings.
  • Mix and match your flights. To get the best deals, you don’t have to arrive and depart on the same airport – or the same airline.
  • If you’re only going for a short trip, skip the extra baggage fee. Try to bring only what will fit into your carry-on luggage and bag.
  • Save money by bringing your own food for flights. Pack your meal or buy from the airport restaurants after check-in.
  • When possible, book your hotel room directly via the hotel. But also check rates from online travel sites and your friendly travel agency. The rates vary and you might just be able to avail of a special promo rate. To save further, try hostels or other accommodation options.
Using cards
  • Using cards (debit or credit) can be more secure than carrying cold cash. Just bear in mind that your bank may charge you fees for overseas transactions, so factor this in when computing for purchases against your budget.
  • Before departure, double-check with your bank if your card/s are accepted in your destination. Majority of credit cards issued by reputable local banks have wide international coverage, but it pays to be sure.
  • Regardless of transaction amounts, it’s best to call your bank before leaving and spending on an extended overseas trip to avoid getting your transactions flagged. Save your bank’s international toll-free number handy to cancel a transaction / report theft immediately.
  • If available, ask to charge your card in the local currency to take advantage of lower exchange rates.

Carrying cash
  • Not all establishments will accept cards, so always have cash readily available as back-up. Just in case!
  • Bear in mind that cash is always easier to lose; either through thieves or spending your entire budget. The safest option is to have some cash on hand and a credit card.
  • Avoid exchanging your currency at the airport, where exchange rates will be to your disadvantage. If you arrive from a red-eye flight, the Forex booth might be closed.
  • Consider withdrawing from an ATM at your destination. Exchange rates via global banking networks are generally better than those at airports or Forex stores.
  • NEVER store your entire travel budget in one place, such as your wallet. Leave some at the hotel safe, and keep them in different places. Better to be safe than broke and sorry.
Other reminders
  • Draft a budget and stick to it. Take note of all your credit card transactions – from your hotel reservations, meals and planned big-ticket purchases (such as gadgets) to avoid a huge bill shock when you come back home.
  • Before you head out, Google and jot down the area’s police and emergency assistance numbers. Keep these handy and near at all times.
  • Avoid withdrawing from stand-alone ATMs in shady locations. That’s something they discourage here, so don’t do it abroad either.
  • Don’t log in to your bank accounts using public Wi-Fi connections and Internet cafes.
  • Got extra currency on your last day? Don’t convert them back to dollars – you’ll spend more in exchanging them back and essentially lose money. Budget ahead to avoid this or keep it to a minimum, or better yet, save the currency for your next trip.
  • Find out if your destination offers a tax refund for tourist purchases. This can earn you back a sizeable sum, so take advantage!
Plan ahead for emergencies, arm yourself with these reminders, and you don’t have to be anxious throughout your trip. Got your own travel-related money tips? Share them with us!