We love to travel for many reasons. You may love to travel because a holiday helps you get away from you regular stressors or because you want to learn new things, enjoy novel experiences, and get to know another culture.
The reason you may not travel as much as you would like is likely due to two constraints: time and money. Since your job probably offers you paid holiday days, time is an easy issue to resolve. But, unless you have a high-paying job and low-expenses, it can be difficult to save enough money to satisfy your wanderlust.
You not only need money to get to your destination, but you also need to cover the cost of your stay. Incidentally, it’s also a good idea to leave some money with a family member in case you have a financial emergency when you’re away from home. If, for example, you’re on a beach holiday at Whitehaven Beach in Brisbane and have your wallet or purse stolen, you can always call the person you left the cash with to send you money via Ria Money Transfer Australia. If they use a debit or credit card, you’ll be able to receive the money in 15 minutes!
Let’s look at how to save money for a trip and how to spend it wisely when you’re in the thick of your new travel adventure.
How to Save Money for a Trip
Travel is expensive. Still, it’s possible to go on a trip of your dreams if you cut back or sacrifice on some of your monthly expenses.
First, set a goal of where you want to go on your next holiday
Next, make a budget that tracks your monthly expenses.
Finally, find ways to spend less and put the money you save into a special savings account.
Here are some budget tips to help you save money for your trips:
- Change your eating habits by not spending money eating out and by taking packed lunches to work.
- Reduce the cost of your daily commute by using public transportation instead of driving to work.
- Shop less for things that you don’t really need.
- Change your supermarket shopping habits, preferring generic or own brands over name brands and dropping unhealthy food selections altogether.
How to Spend Money Wisely on Holiday
It’s easier to spend more money than you intend when you’re on a trip because you’re in a good mood and you’re easily tempted by all types of bright, shiny objects.
With that in mind, here are some of the things you should and should not do when you’re on holiday.
- Plan your daily excursions so that you have a good idea of where to allocate your funds.
- Pack your suitcases lightly so that you don’t have to pay airline baggage costs on your way back home if you buy a few new outfits.
- Enjoy the local cuisine, because half the fun is trying something new when you’re in an exotic country.
- Find a reasonably-priced hotel. If you’re too frugal, you won’t enjoy your stay; and, if it’s too high-end, everything will be unreasonably expensive.
- Use cash as much as possible as that will make you more aware of your balance. With credit cards, it’s easy to overspend without realizing it.
Use free translation apps to communicate in a foreign country. Google Translate is one of the best free translator tools out there. If you choose to find an interpreter, finding one online is a great option if you are looking for a personalised service.
- Don’t buy sporting equipment. For instance, if you’re on a beach vacation, you might be tempted to buy equipment for water sports. These types of expenses will drain your limited cash reserves. You can always rent sporting equipment on holiday.
- Since you’re a tourist, salespeople might try to sweet-talk you into buying a timeshare. Usually, it’s a bad idea.
- Resist the temptation to go on tourist tours. You can always get a map and guidebook and find your own way around the new city at a much lower fare. Or if you have a good data plan, simply use google maps.
- Avoid going on wild shopping sprees because you think you need a lot of souvenirs.
- Refuse to be impulsive and buy or upgrade to a luxury suite at your hotel because it seems so much more comfortable than your modestly priced room.
If you love to travel because it’s fun and expands your views about life, you’ll find it’s easy to go on great holiday using these financial planning tips.
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