Here are a few tips and tricks on how to save money when on a trip!
Do Your Research
Before going on a trip to an unknown place or a foreign land, do your research. I cannot express this enough when I say it’s so much easier to know about the place you’re visiting rather than going there and finding out everything there and then. For example, when you research about public transportation, you are able to save money on cab fares or taxis which normally hikes up prices in tourist areas. On top of that, you get a whole new experience when travelling by bus or train, as well as being able to sightsee while you’re in transit. The best part? You get to meet more people on public transportation than you do in a private cab. Talking to the locals is another great way to know of affordable restaurants and even accommodation!
Skip hotel reservations, book an airbnb or hostel!
When travelling, the main idea of the trip is to explore the place as much as you can before going home. So why bother spending the rest of your trip in your hotel room? A traveller once told me, “All you need is a roof over your head and a pillow under. If you don’t plan to spend your holiday indoors and explore the outdoors instead, don’t book a 5 star hotel.” Booking an airbnb or a shared hostel is significantly cheaper than booking even a 2 star hotel. Not only will you get to meet travellers from around the world through your airbnb or hostel, who knows, maybe you’ll gain new travel buddies for your next trip!
This is important to know because accidents can happen anywhere at anytime. If something were to happen to you while you’re overseas, you don’t have to worry about losing half your savings on medical bills and hospital stays. During trips, you will be bolder in trying ‘once in a lifetime’ activities, such as bungee jumping, skydiving, cliff diving, or even underwater activities like snorkeling. These dangerous activities will increase the risks of injuring yourself, whether minor or serious. It’s better to be safe than sorry. You wouldn’t want to spend the rest of your trip on a hospital bed, so be careful and know your limits!
Don’t use a credit card unless you absolutely have to
Unbeknownst to many, most credit cards charge foreign transaction fees. You may not notice it as sometimes it can be as low as 1-3%, however that adds up pretty quickly considering how much you’re going to use when you’re on a trip, spending on necessities like food, accommodation, souvenirs, etc. It’s not advisable that you use cash the whole time as it’ll be harder for you to track your spendings, so make sure you find a credit card with zero foreign transaction fees. A credit card can be very useful especially when it comes to keeping track of your finances, provided you’re smart enough and know how to use it without going over the credit card limit. Do not spend money you know you don’t have in a foreign country.
Did you know?
Hong Leong Bank’s credit cards offer no mark-up fees on overseas transactions, which means no charge on foreign transactions fees and you can save more money when you spend in a foreign country! Click here to sign up for one now!
Cook your own meals
Did you know buying groceries is cheaper than dining in a restaurant? When you buy groceries, you’re able to make 3 meals a day instead of just having one sad, overpriced meal in a restaurant. Moreover, some hostels and airbnbs have access to a kitchen and a pantry, giving you more perks than a standard hotel room that might even cost you extra and worse off, they don’t even provide or encourage cooking utensils or facilities!
Be a smart traveller, don’t be a heavy spender!
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