Whether you are heading to Bali to relax for a week or are going on a six-month long adventure across the world, travel can either be expensive or surprisingly affordable. It all depends on how you plan your trip and how you manage your travel budget. To help you reduce your travel costs, we will share five ways to save money while travelling.
Prepare in advance for travelling
1. Leverage the sharing economy
The emergence of the sharing economy is one of the best things that has happened to travellers since the introduction of budget flights.
The emergence of the sharing economy is one of the best things that has happened to travellers since the introduction of budget flights. If you want to reduce your travel costs, make sure you take advantage of the services that the sharing economy offers. Instead of staying at a hotel check into a cheap AirBnB apartment, instead of getting overcharged by local taxi drivers, jump into an Uber or instead of paying for accommodation you could volunteer in return for food and housing by leveraging the WorkAway platform.
2. Shop around for the best currency exchange rates and never convert currency at the airport
A cost that inevitably arises when travelling is the cost of transferring your dollars into your destination’s local currency. However, you are able to reduce those costs by comparing foreign exchange bureaus once you reach your destination or exchange your money while you are still at home after having shopped around for the best exchange rate. Above all, never convert currency at the airport. The worst exchange rates you will ever receive are found at airports.
3. Eat locally and avoid the tourist traps
To truly appreciate the local culture you have to eat local cuisine in local restaurants. By avoiding the costly tourist traps, usually found in town centres, you will not only save a substantial amount of money but will also be able to immerse yourself in the local culture.
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4. Check what everything costs in advance to avoid overpaying
If you are travelling to an exotic country that you have never been to, it really helps to find out in advance how much you should be paying for everything. Local taxi drivers love to overcharge tourists for example. So if there is no Uber, it is best to read up on travel blogs to find out how much a ride should cost. The same goes for guided tours, attractions, and whatever else you might want to spend money on while abroad.
5. Skip the souvenirs
Does your mum really need an “I love Bali” keychain, or do you really want a giant wooden Buddha statue for your living room? Most likely the answer is ‘no’. Souvenirs are always overpriced and are definitely not a necessity. While it is nice to take something home to remember your travels, you are better off taking pictures and make videos instead of wasting money on souvenirs.