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5 Ways To Travel in Europe on A Budget This Summer

5 Ways To Travel in Europe on A Budget This Summer

Summer is here and you’re excited to head off on that dream vacation to Europe. The one small problem is that you’re not really all that ready. You might know when you’re going to go and when you need to be back, but Europe is such a vast and varied place that working out exactly how to do it all properly is pretty overwhelming. What’s worse, you’re not sure that you’ve even got enough money.

Luckily for you, there are a number of smart ways to travel in Europe on a budget. I’ve done it and used them all, multiple times. Below are five simple tips that should help you do the same whilst having one of the best holidays of your life.

1. Hit the Road

Europe is fully covered by a plethora of low-cost airlines offering cheap flights to all the major cities. The problem is that at this time of year the cheapest of these seats have probably been taken up.

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Young travellers can look to have an authentic European travelling experience by buying a Eurail train pass. These can work out to be very good value if you use them a lot, but they need a lot of forward planning and you will have to move quite often to get your money’s worth.

A cheaper option is to head down to the bus station and jump on a coach. Modern coach travel is pretty comfortable, often now comes with free Wifi, and is usually a much cheaper option than a flight or train ticket. Journey times are obviously a bit longer, but if you can get a night bus, you save twice. Not only will the journey be cheaper but you won’t be paying for accommodation that evening either.

BlaBlaCar is another decent road alternative if you’d like to share a car ride with people making the same journey as you. You can sign up quickly via Facebook and there will be plenty of rides available across the whole of mainland Europe.

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2. Go East

London, Paris, Rome, and Barcelona all pull at the heart strings of those travellers from outside Europe who are heading over on their first visit, but these major cities do not come cheap, especially in summer. Unless you have a lot of time and money on your hands, it would be wise to make one or two of these cities your jumping off and departure points and then look to the east in order to get some real value for money.

Everything is cheaper the further east you travel in Europe but this does not mean you have to compromise in any way on the amazing places that you can experience here. Budapest, Prague, Warsaw, Sarajevo, and Ljubljana are just some of the city highlights that you can find in the east. In these places you’ll encounter history, culture, and architecture to match all of the big boys. And the people are often more welcoming than in the more historically popular capital cities where everybody is just a teensy bit tired of all the tourists by this point.

3. Unlock Your Phone

One of the quickest ways to watch all your money get eaten when you travel in Europe is for you to use the roaming service from your mobile carrier. Some companies do now offer good deals on this, but any digital nomads who rely on their phones to allow them to work whilst travelling will definitely need more data.

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The best way to get around this is for you to unlock your phone before your departure and pick up a free SIM card when you enter any of the major cities in Europe. This is particularly useful if you’re planning on staying in one country for a while. Even if you are not, a European SIM from a low-cost company like Lebara will allow you to move from country to country within the EU without incurring too many additional charges.

4. Double Up

Undoubtedly the most expensive part of travelling anywhere is the cost of accommodation. The easiest way to make this cheaper is by splitting the cost. Anyone thinking about making a solo trip should perhaps consider whether there could actually be a good friend out there who might want to join you. Your costs will immediately come down and you won’t have to take so many selfies.

For those people who do really want to go it alone, the best sleeping options will be in the hostels with shared dorm rooms. You can find really cheap beds in these places all over Europe, but some are obviously better than others, so make sure you do a little bit of research before making your booking.

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5. Eat Cheap, Eat Local

After accommodation, food is where you are most likely to blow most of your budget. This doesn’t have to be the case if you do as the locals do and buy your food stuffs from the supermarket. Bread, fruit, and vegetables are all relatively cheap wherever you go, especially if you are buying local produce. This is an excellent way to save money but also one that pumps money directly back into the local economy.

If you fancy eating out a restaurant try to do so at lunch time. In many European countries this is often the main meal of the day and most restaurants usually offer special lunchtime multi-course options that are very good value.

Featured photo credit: Viktor Hanacek via picjumbo.com

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Published on January 8, 2021

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

How To Pay Off Credit Card Debt Fast: 7 Powerful Tips

Ever wondered whether your credit card debt is the reason you’re in a bad financial situation? You can’t enjoy any fun activities because a good chunk of your money goes toward debt payment. Heck, you’re even behind on some of your monthly bills.

The effects of clumsy debt management are too many to list here. This guide is going to help you discover how to pay off credit card debt fast and start chasing your financial goals.

Debt problems are the last thing anyone wants to encounter. But things can get out of hand when all the “little debts” you take accumulate in interests.

What if you knew some simple and proven ways to be debt-free quickly? Implementing them would mean better financial health for you. It becomes possible to free up cash for your “wants.” These include taking a trip or buying something you’ve always desired. All that while paying your bills on time!

Let’s not wait any longer. Here are 7 powerful tips for paying off credit card debt fast:

1. Pay More Than the Minimum Credit Card Payments

Many people only pay the monthly minimum on their credit cards. Truly, that’s the right amount for staying on good terms with your credit card company. But you need a different approach if you’re looking to achieve financial independence within a short time.[1]

Most of your payments go toward interest costs when you only pay the minimum amount. A substantial sum of your balance remains standing. As a result, it becomes more expensive to eliminate your debts.

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You don’t want to wait more than 10 years to get rid of debt while it’s possible to do it sooner. All you have to do is double that $100 minimum payment to $200 or go higher.

The good thing is that minimum credit card payments are affordable in most cases. By paying a higher amount, you reduce your interest costs, lessen your borrowing period, and boost your credit score.

2. Start With High-Interest Credit Card Debt

If you have more than one credit card debt, prioritize putting the extra money toward the ones with the highest interests. This debt pay-off strategy, known as the debt avalanche method, is essential for being debt-free quickly.[2]

First, you need to list down all the credit card debts you have in the order of their interest rates. Next, you choose the one with the highest interest and pay a significant amount toward it each month. It can be an amount twice or even thrice larger than the minimum payment.

At the same time, you make monthly minimum payments on the other debts. Their interest charges won’t be as costly as that of the first debt on your list. You only move on to the next high-interest debt after the first one is gone. Remember that your focus is on the interest rates and not the balances.

3. Revisit Your Budget

Budgeting is useful for tracking your financial moves. Once you create a budget, some tweaks along the way can make it work for you better. One situation that requires you to revisit your budget is when you’re struggling with debts. It might hurt a bit to slash some expenses. But you also don’t want to miss out on achieving financial freedom in the long run.

You can reduce some variable expenses to free up more cash for credit card debt payments. They’re the ones that change from time to time. Some examples are groceries, fuel, and clothing.

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Other opportunities for cutting down your spending lie in non-essential expenses. Instead of dining out all the time, you can cook at home more to save money. You can also share some subscriptions with friends and pay a fraction of the cost.

If you’re determined enough, you can eliminate all your unnecessary expenses and focus on paying off your credit card debt first.

4. Avoid Using Your Credit Cards

Do you want to know how to pay off credit card debt with a low income? One simple way is to stop using them. Having your credit cards everywhere you go means that you’ll be more tempted to buy unnecessary stuff. In this case, you spend money that you don’t really own and get deeper into debt.

The quickest fix to stop the debt build-up is spending with cash. You’ll be more aware of everything you can afford at any particular time. If you decide to keep one or two cards to ease the transition, always make wise choices. For instance, only use them when experiencing financial difficulties.

It’s best to categorize your fun activities under “discretionary spending” in your budget. This way, you won’t need more debt to kill your boredom. By halting your credit debt from accumulating, it’s easy to pay down what you already owe and be happy with the progress.

5. Start a Side Hustle to Boost Your Income

You’re probably turning away a lot of money by not monetizing your skills. Everyone has something that they’re good at doing. And you can use that to generate extra income for attacking your credit card debt.

If you look around your neighborhood, you can find several side hustle opportunities. It can be pet sitting, tutoring, or lawn mowing. You can start an online business by offering services such as digital marketing, content creation, and web development. Such skills go in high demand on freelance sites and job boards.

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Finding clients on social media is also a good strategy to utilize your skills and make more money. Facebook groups, Quora Spaces, and subreddits are some places to look for side jobs. You only have to join a niche-specific platform, share your services, and respond to any opportunities.

It’s possible to learn a skill, practice it, and earn from it. Use the free resources online or purchase some e-courses to get started.

6. Sell Your Used Items for Extra Cash

Starting a side hustle isn’t the only way to generate extra money. You can turn unwanted items into cash for paying off credit card debt. Whether it’s an old TV, book, or furniture, there is always someone itching to buy your used stuff.

A garage sale, as much as it’s old-fashioned, is perfect for getting your neighbors and passers-by to buy from you. You keep all the money because there are no business permits or taxes involved. While you may not make much cash, it’s better than leaving your stuff to go defunct in your storage.

Other than that, you can sell your used stuff on online marketplaces. Facebook groups are great places to start if you want quick approvals and hence sales. You only have to ensure that your listing follows Facebook’s commerce policies.

When selling any pre-owned items online, ensure they’re in good shape to avoid problems with your buyers.

7. Know When to Seek Help With Your Debt

Asking for help with your credit card debt can be challenging to do. But letting it drown you is a road you don’t want to take. While you may feel embarrassed at first, it’s the best way to get back on track when you run out of options.

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There are tons of non-profit credit counseling organizations that can offer you free guidance on how to escape the debt trap. An example is The National Foundation for Credit Counseling. They simply review your finances and help you determine the source of your financial problems. After that, they match you with an actionable debt management solution.[3]

In extreme cases, the debt solution can be:

  • Debt relief – where your debt is partially or wholly forgiven
  • Debt consolidation – taking out one loan to repay others
  • Debt settlement – the creditor forgives a significant portion of your debt
  • Bankruptcy – legal process for seeking relief from some or all your debts

It’s necessary to carefully weigh your options before deciding on the way to go. Find out how it might affect your credit score and any other risks.

Wrapping It Up

Debt is a major setback when you’re trying to prosper in life. Paying off credit card debt is essential if you want to reach your financial goals. That means having more free income, a good credit card score, and even a chance to retire early. You become more productive each day because of the peace in your mind.

So, you now have some tips on how to pay off credit fast. Go ahead and get rid of that good life progress killer!

More Tips on How to Pay Off Debt

Featured photo credit: rupixen.com via unsplash.com

Reference

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