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5 Great Tips To Plan a Budget Vacation in Thailand

5 Great Tips To Plan a Budget Vacation in Thailand
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One of the most visited places in South East Asia, it is easy to see why millions of tourists flock to Thailand every year. It is culturally rich, has neon streets and skyscrapers, and pristine white-sand beaches with little fishing communities, all of which cater to different kinds of travellers from all over the globe.

Do you want a relaxing vacation by the beach? Or would you rather spend the vacation getting pampered by spas and massages? Or do you prefer street trotting and experiencing a new culture? Thailand has it all! But wouldn’t all that be expensive? Among the South East Asian countries, Thailand is undoubtedly one of the more expensive places to travel. This is because of the large influx of tourists it sees each year.

But I meant it when I said that Thailand caters to all kinds of travellers, including budget travellers. If you want an inexpensive Thailand trip plan, do extensive research and keep a track of how you spend your money, you can then certainly enjoy a vacation in Thailand on a shoestring budget. So here are some tricks and tips to travel to and within Thailand without spending too much.

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1. When should you travel?

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    Airport Express bus counter, Thailand by shankar s

    Start working on your Thailand travel planner early, and book your flight tickets several months in advance, when they are much cheaper. You should also avoid travelling on weekends and holidays (like Christmas) because prices surge during these times as well. Travel during peak tourist season (December to March) is not the best time to visit, either, due to the high prices and the crowds. Instead, travelling off-season can be cheaper as well as more peaceful.

    2. Accommodation

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    Picture3
      Backpacking Thailand by Keith Parker

      Finding a place to stay always takes a chunk of cash from your wallet when you’re travelling. You may be very easily tempted by swanky air-conditioned hotel rooms, but if you research a little more, you will see that there are many more affordable options. Try looking for backpackers’ hostels as they are always much cheaper than hotel rooms. If you’re travelling solo or with friends, this is a great option since you can meet a lot of other travellers as well. If you’re travelling with family, look for inexpensive guesthouses away from regular tourist areas.

      Tip: Double or triple sharing rooms in hostels (with friends) can sometimes be cheaper than a single bed in a communal dorm. Compare the prices before you choose.

      3. Food

      Picture4
        Thai food, Thailand by eak_kkk

        Anyone travelling to Thailand will want to experience the local cuisine. After all, it is food that is the real essence of a place! Where most people tend to go wrong is to have Thai food at international and fine-dining restaurants, and at places with are concentrated with tourists. Instead, a better option is to take to the streets. If you explore a little, you will find varied delicacies in the streets and night markets. Bangkok, especially, is famous for different localities that are bustling with street food vendors. You can also look out for cafeteria-style dining places, which are frequented by locals.

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        Tip: Try to look for food on side streets as opposed to main streets. Tourists and vendors frequent main streets where they often sell food for higher prices.

        4. Transportation

        Picture5
            Transportation, Thailand by Sven Scheuermeier

          The two cheapest ways to travel within Thailand are local trains and buses. Trains can be used when you’re travelling a long distance, and buses for the shorter distances. One thing you should not do is to book tickets at a travel agency. They have an added commission to the price of the tickets. Instead, go directly to the transportation central office and buy your tickets there. Tuk-tuks and taxis are another option to travel within cities, but will be more expensive than buses, because they quote high prices for tourists. When taking taxis, try finding ones that run their meters; that way, you’ll be paying a fair price.

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          5. Explore Southern Thailand

          Thailand has a lot of scopes for things to do as a traveller. What you know as the main tourist attractions is only a fraction of the places to visit in Thailand. There are many beautiful undiscovered and untouched spots in Thailand where you can travel to without spending as much. One more thing to remember is that the North of Thailand is significantly cheaper than the Southern part. You can use an online itinerary planner to map out your travels to Thailand beforehand and enjoy the best vacation you can on a comfortable budget!

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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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