At some point, we all consider going to a country outside of our homes and exploring new cultures, ethnicities, locations, and fascinating foods. But abroad travel can be an expensive business. From costly flights and accommodation to food and other miscellaneous expenses, the entire planning phase can become confusing and scary.
However, budget travel can make your life easy and help you visit all those foreign lands on your bucket list. In this article, we share 7 super important tips on smart spending and travel for people considering travelling abroad. Read on.
- Make a Realistic Travel Budget – To create a realistic budget, research your travel destination. Find out the cost of living, currency exchange rates, typical spends on flights, accommodation, food, and other essentials. You can also talk to people who have already visited the same country to get a better idea of activities, entertainment, transportation, and other potential expenses. Budgeting will uncover any surprise expenses and ensure that you don’t end up spending unnecessarily.
- Get Your Foreign Currency in Advance – When you buy foreign currency in advance, you have the opportunity to shop around and find the best exchange rates. This can help you get more value for your money and potentially save on currency conversion fees. Moreover, it will help you avoid currency exchange services at airports that often offer less favourable rates and higher fees.
Having foreign currency on hand when you arrive at your destination will also save you time and be helpful for immediate expenses like transportation, meals, and tips.
- Acquire Emergency Funds – Travelling in a foreign country can bring unexpected expenses, such as medical emergencies, lost or stolen belongings, travel disruptions, or additional accommodation costs due to flight cancellations or delays. An emergency fund can help cover these unforeseen expenses without derailing your travel plans. But if you haven’t been able to set aside extra cash, you can get a pre-approved personal line of credit that can provide you with the necessary amount quickly and without any hassle. With a reliable loan app or channel, you can easily borrow money and pay it back conveniently in instalments.
Having an emergency fund will allow you to focus on enjoying your trip without constant worries about potential financial setbacks.
- Get Travel Insurance – Getting travel insurance while abroad is highly recommended for several important reasons. It provides coverage for medical emergencies and expenses while you’re travelling. If you fall sick or get injured, your insurance can cover hospitalization, doctor visits, prescription medications, and even medical evacuation if necessary. It can provide compensation for additional expenses incurred due to flight delays or missed connections, such as meals, accommodation, and transportation.
If you lose essential travel documents like your passport or visa, travel insurance offers assistance and covers the costs of obtaining replacements as well. And it provides peace of mind knowing that you’re financially protected against unexpected events.
- Research the Country – By doing your research before visiting a new country, you will have a clear understanding of its travel programs, norms, and traditions. And this information can save you a lot of money. For example, you can explore different types of accommodations, such as hotels, hostels, guesthouses, vacation rentals, or even shared homes. You can then compare prices and read reviews to find the best value for money.
Similarly, you can go for public transportation or ridesharing services, which may be more affordable than taxis or private transfers. And by researching the local cuisine, you can find local eateries and markets that are more budget-friendly than touristy restaurants.
Pro tip: Learn a few basic phrases in the local language. This can help you communicate and potentially negotiate better prices with locals.
- Avoid Overpacking – Overpacking may negatively impact your travel experience. Airlines may charge additional fees for exceeding weight limits, and handling large bags can be inconvenient during your journey. Travelling with too much luggage can make it challenging to navigate public transportation, stairs, and crowded spaces. It may also slow you down and add stress to your trip. Moreover, having multiple bags can make you a more attractive target for theft and also increase the chances of misplacing or losing items.
So, create a packing list, stick to the essentials, and opt for versatile clothing that can be mixed and matched. Also, don’t forget technology essentials like portable chargers and torches.
- Make All Bookings in Advance – Booking flights, accommodations, and activities well in advance often allows you to secure better prices and take advantage of early booking discounts and deals. More importantly, popular destinations and accommodations fill up quickly, especially during peak seasons. Booking in advance will ensure that you have a wide range of options to choose from.
Further, planning and booking in advance will help you arrange transportation, accommodation, and activities to save time and money on spontaneous arrangements. And in countries where English may not be widely spoken, booking in advance will help overcome language barriers as you’ll have confirmed bookings and essential information handy.
While planning everything to the T offers numerous advantages, it is also essential to strike a balance. Leave some room for spontaneity and flexibility in your itinerary to accommodate new discoveries and unexpected opportunities during your travels.
I hope these tips for abroad travel are helpful for you. Have a wonderful time!
Author Bio: Shiv Nanda is a financial analyst who currently lives in Bangalore (refusing to acknowledge the name change) and works with MoneyTap, India’s first app-based credit-line. Shiv is a true finance geek, and his friends love that. They always rely on him for advice on their investment choices, budgeting skills, personal financial matters and when they want to get a loan. He has made it his life’s mission to help and educate people on various financial topics, so email him your questions at shiv@freo.money