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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
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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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Last Updated on July 20, 2021

Financial Freedom is Not a Fantasy: 9 Secrets to Get You There

Financial Freedom is Not a Fantasy: 9 Secrets to Get You There
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Have you ever considered your life now, and how it would be if you had more time to spend with your family and less worries about money?

Nowadays, financial stress is one of the most troublesome weights in life. If you’ve ever encountered financial stress, you know the difficulty of not having enough income to pay your obligations or bills.

Many people say that money is not the ultimate goal of life. While that’s true, money certainly plays a very significant role. The meaning of financial freedom changes with the different phases of our life, but ultimately, it is something that many people strive for.

In this article, we’ll explain how to capture that financial freedom you’ve been looking for. Read on to learn the secrets to financial freedom.

Break Free of Your Finances

Financial freedom is about having a constant flow of cash from your assets to cover all your regular needs.

When you are not worried about your income, or living paycheck to paycheck, you gain a great sense of freedom. It’s the freedom to be obtain and do what you truly need to make your way through everyday life.

Gaining financial freedom, though, is a process of growth, making small improvements and gaining emotional strength.

Though it seems hard to believe, it is really very simple to get financial freedom.

To do so, you simply need to make sure that your assets exceed your liabilities. In other words, you’ll need to find the sweet-spot where your residuals meet or surpass your expenses. This is something that you can achieve with the proper plan.

While not every person will accomplish financial freedom, the potential for anyone to do so is certainly there. Anyone can achieve this success, regardless of their income level.

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Outlined below are 9 secrets that will help you in your goals of achieving financial freedom.

1. Stop Unnecessary Spending

We often spend money inwardly, instead of objectively.

For example, you may spend when you’re anxious, depressed, restless, exhausted, from fear of missing out, or to please others. This is a very unhealthy way to handle your finances.

To stop this habitual spending, log down all your spending over the course of a month.

Just as some people keep a food diary, keep an expense diary. Remember not to just write down how much and what you spent the money on, also include the circumstances of why you spent the money. Was it an impulse buy at the checkout line or was it something you planned to purchase?

This increased self-awareness could enable you to avoid triggering situations in the future when you are considering an impulse buy.

2. Plan a Monthly Budget

This is a great opportunity to get serious.

Take a seat with your spouse or partner and make a monthly budget based on your income, not your expenses. You are never again going to spend more cash then you have on hand.

Overspending is the thing that led you to more financial obligations. Make sure you decide every month what is coming in and what will be going out and stick to that budget… no matter what.

3. Cut-up Credit Cards

Perhaps you are the type of person who always pays your credit card balance in full before the end of your billing cycle, and enjoys the reward points you gain. If this is the case, then you’re already way ahead of the game.

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If not, you may want to consider ridding your life of the burden that credit cards bring.

Many cards have strategies set up so that if you make a certain number of late payments, they will raise your interest rate much higher. This can really add up in the long run and you won’t be doing your financial situation any favors. If you’re prone to late payments or have a large balance due on your cards, cut them up!

Without proper self control on credit card spending and payments, you are basically throwing your money away. To ensure that you have better control over your spending, use only cash or debit for all future purchases (and don’t forget to pay at least your minimum payment on your cut-up cards each month!).

4. Increase Savings

There is no doubt that for a comfortable retirement you must accumulate satisfactory savings throughout your working life.

It’s good practice to save up to 15% of your income.

Start with your workplace 401(k), if you have one. If not, a Roth IRA (if you are eligible) or a traditional IRA (if you are not eligible for the Roth) are the next logical steps.

Increase in longevity means you might be able to look forward to 25 to 30 years in retirement, or possibly even significantly more. Investing now in good retirement plans will ensure that you have a guaranteed a stable monthly income when the time comes to stop working. [1]

5. Invest Wisely

Consider investing in funds.

Specifically, you will gain higher returns if you invest in different types of mutual funds such as Debt funds, Equity funds and Hybrid funds with a proper balance, although it absolutely relies on your personal preferences and sense of risk taking.

To get the most of these benefits, make sure you are investing in a variety of assets. Another resource of investing in mutual funds is SIP (Systematic Investment Plan) where you invest some money every month in funds. SIP works by averaging the per unit price of the stock.

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Mutual fund investors are aware of the benefits of an SIP (Systematic Investment Plan). For one, it is the most secure way to invest in equity mutual plans so that wealth is created over a long period of time. This plan also helps you to gain a better sense of financial discipline, which will come in handy in all your financial endeavors.

6. Invest in Gold

There isn’t really a better way to invest in gold than to have the physical gold itself in your possession.

You can purchase gold coins and bars from mints as well as from coin dealers and other private sellers.

Another way to invest in gold is through ETFs (Exchange Traded Funds).

These are is similar to mutual funds but they are exclusively investments of gold. ETFs are great because they offer more liquidity; the ETF owns the actual physical gold, stores it, and retains the value of the shares. These shares can then be bought and sold in the stock market, and one big benefit is that the transaction costs of gold ETFs are much lower than the that of physical gold.

With its consistently-increasing demand, investment in gold can be very wise long-term investment to make.

7. Stash Emergency Funds

Whether it’s a cash gift or a work bonus, always try to save any extra money that comes your way rather than making unneeded purchases.

If you get paid every other week, you’ll get an “extra” paycheck (three rather than the usual two) twice a year. Either save those paychecks towards your emergency funds or utilize the money to pay down other obligations, such as loans, credit cards or other debts.

Make it hard to get your cash.

Put your savings in an alternate bank, maybe an online bank that forces you to delay for several business days before transferred money hits your regular bank account.

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8. Find Fabulous Mentors

Find a mentor, such as a friend or family member, who has exceptional control over their finances and pay attention to everything they do.

If you do not have any friends or family that are enjoying financial freedom, then find a mentor online! There are numerous blogs and guru websites featuring the advice of many people who have reached financial freedom, and they exist primarily to let you in on how to achieve it for yourself.

There are also plentiful forums available that share tips and tricks on how to best achieve financial freedom. Read as much as you can and start changing your habits for the better.

9. Be Extra Patient

Patience is the key of financial success.

Being patient can be quite tough, especially when you’re struggling with your finances, but having faith is worth it. You’ll continuously be on the right track if you are taking the proper steps above.

So don’t be discouraged, even if you are only saving a few dollars a month; it all adds up. Within just a few years you’ll look back proudly at your accomplishments and be glad that you had the patience to get there.

Financial Freedom for All

Anyone can achieve financial freedom, regardless of their financial circumstance.

Use the tips provided above to get yourself on the track to financial freedom and toss your monetary concerns out the window. If you wish to achieve a life with financial freedom for yourself and your family then you must adopt a disciplined approach towards your finances.

Following the simple secrets above is a great start to making your money work for you, so you can work less and live more!

Featured photo credit: rawpixel via unsplash.com

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Reference

[1] Hartford Gold Group: IRA Retirement Accounts

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