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5 Ways To Avoid Travel Rip-Offs

5 Ways To Avoid Travel Rip-Offs

Holiday season is upon us and the excitement to get away can eclipse your careful budgeting. Often times, travellers will opt for convenience while they’re abroad or in transit and unfortunately, this convenience usually comes at a hefty price. Holidaymakers will be surprised on how much they can save with a little research and on top of helping yourself, you can be helping your friends and family in the process which can lead to them buying you a drink or two (we hope) with the money they save too.

Going on holiday should be fun and rewarding for all the hard work that has been done to save up for your holiday. The last thing you want to do with your holiday money is to squander it unnecessarily for an easy life, so we’ve compiled a list of 5 travel rip-offs to look out for and how to avoid them.

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1. Exchanging Money at The Airport

Airport currency vendors offer the worst exchange rate for travellers. They try to lure customers in by offering 0% commission but in turn give a terrible rate in order to make a profit. Moneywise.co.uk did a comparison and found that €1,000 at Travelex Heathrow would cost you £951.29, whereas using the same company’s online service would only cost you £890.95. Best advice is to compare rates and exchange money before you leave.

2. Organized Tours

Nearly every tourist destination will offer some sort of package that bundle in several sites to be seen for a fee. These tours are not always a bad deal but a lot of times, they are. The packages generally include 2-3 of the most popular sites along with several of the less popular, fringe sites that you may not care to visit. Many of these sites will have free entry but by paying for the ‘package deal’, you have now paid to get in. These organized tours may provide you with transport to several different tourist locations. However, a little research may indicate that transporting yourself is a cheaper option.

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3. Airport Parking

Waiting until the last minute can cost you dearly to park at the airport. Simply booking ahead can cut the cost in half. Even better rates can be found at private car parks that surround the airport, which offer a shuttle to and from your terminal. You can check sites like Airport Parking or Parking4less. You can also avoid airport parking completely by taking public transport or asking a friend or family member for a ride.

4. Buying Travel Insurance Through Your Airline or A Travel Agent

Airlines and travel agents will try to entice you to simply ‘add on’ travel insurance when you are purchasing your tickets or hotel. It seems convenient to simply buy everything at once. However, these travel insurance policies are typically more expensive and offer poor coverage. A simple search on Moneysupermarket will offer a family of four over £2 million in coverage (medical, personal liability, cancellation, baggage, etc.) for a mere £40.

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5. Mobile Roaming Charges

Even if you are travelling within Europe, South America, or Asia, roaming rates are fairly cheap now. Your roaming costs can be high if you use your phone frequently. Your cheapest option is to simply get a new sim card and pre-pay for usage. You will need to confirm that your phone is unlocked in order to use this feature. Also, turn off your data and use Wifi whenever possible.

You could also get a local sim card once you have reached your destination. What you will find is if you are with a group of friends or family and you all have a local sim, you will be subject to local charges calling each other within the country. Make sure before you buy a pre-paid sim card that you are aware of the charges to determine if you will save money during your holiday.

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Featured photo credit: http://www.studentuniverse.com/ via studentuniverse.com

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Last Updated on January 21, 2020

How to Develop a Millionaire Mindset in 6 Simple Steps

How to Develop a Millionaire Mindset in 6 Simple Steps

We all like to dream about being financially wealthy. For most people though, it remains a dream and nothing more. Why is that?

It’s because most people don’t set their mind to achieving that goal. They might not be happy in their current situation but they’re comfortable – and comfort is one of the biggest enemies of growth.

How do you go about developing that millionaire mindset? By following these simple steps:

1. Focus On What You Want – And Take It!

So many people are too timid to admit they want something and go for it. When there is something that you want to accomplish don’t think “I could never actually do that”, think “I could do that and I WILL do that”.

Millionaires play to win, not to avoid defeat.

This doesn’t mean to have to become a selfish jerk. What it means is becoming more assertive and honest with yourself. You don’t have to grab off other people. There is a big pot of unclaimed gold in the middle of the table — why shouldn’t you be the one to claim it? You deserve it!

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2. Become Goal-Orientated

It’s almost impossible to achieve anything if you don’t set firm goals. Only lottery winners become millionaires overnight. By setting yourself attainable goals, you will get there eventually. Don’t try to get rich quickly — get rich slowly.

Let’s take the idea of making your first million dollars and expand on what kind of goals you might set to get there. Let’s also say you’re starting at a break-even position – you’re making enough to get by with a few luxuries, but nothing more.

Your goal for the first year can be having $10,000 in the bank within a year. It won’t be easy but it is doable. Next, you need to figure out the steps you need to take to achieve that goal.

Always look at ways to make growth before cutbacks. With that in mind, you might want to see if you can negotiate a pay rise with your boss, or if there’s another job out there that will pay better. You might be comfortable in your old job but remember, comfort stunts growth.

You may also have other skills outside of your workplace that you can monetize to boost your bank balance. Maybe you can design websites for people, at a fee of course, or make alterations to clothes.

If this is still not enough to make the money you need to save $10,000 in a year, then it’s time to look at cutbacks. Do you have a bunch of old junk that someone else might love? Sell it! Do you really need to spend $10 on your lunch everyday when you could make your own for a fraction of the cost?

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If you are to become a millionaire, you need to start accumulating money.

Here’re some tips to help you: How to Become Goal Oriented and Achieve More in Life

3. Don’t Spend Your Money – Invest It

The reason you need to accumulate money is for step three. Millionaires tend to be frugal people, and that’s because they know the true value of money is in investing. Being your own boss goes hand-in-hand with becoming a millionaire. You’ll want to quit your regular job at some point.

Stop working for your money and make your money work for you.

Rather than buying yourself a new iPad, that $500 could be used to invest in the stock market. Find the right shares (more on that later), and that money could easily double within a year.

There’s not just the stock market — there’s also property, and your own education.

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4. Never Stop Learning

The best thing you can invest in is yourself.

Once most people leave the education system, they think their learning days are over. Well theirs might be, but yours shouldn’t be. Successful people continually learn and adapt.

Billionaire Warren Buffet estimates that he read at least 100 books on investing before he turned twenty. Most people never read another book after they’ve left school. Who would you rather be?

Learn everything you can about how economics works, how the stocks markets work, how they trend.

Learn new skills. If you have an interest in it, learn everything you can about it. You’d be surprised at how often, seemingly useless skills, can become extremely useful in the right situation.

Start developing the habit of learning continuously: How to Create a Habit of Continuous Learning for a Better You

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5. Think Big

While I advise to start off with small goals, you absolutely should have a big goal in mind. If you have a business idea, then that is your ultimate goal – to start that business and make a success of it. If you want to invest your way to millions of dollars and do little work other than research, then that is your big goal.

There is no shame in not achieving a big goal. If you run a business and aim to make $1 million profit in a year and “only” make $200,000, then you’re still significantly ahead of most people.

Aim for the stars, if you fail you’ll still be over the moon.

6. Enjoy the Attention

To be successful, you have to be willing to promote yourself and enjoy the attention to a certain extent. Now the attention doesn’t need to be on yourself, it could be on your brand, but attention definitely attracts money.

Never be embarrassed to get your name out there. That means finding a spotlight and being brave enough to step right up underneath it.

If you run a business, try contacting the local papers. You’d be surprised at how amenable they often are to running a story about you and your business, and it’s all free publicity.

Above all, remember: You control your own destiny. Push hard enough for anything and you’ll get it.

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Featured photo credit: Austin Distel via unsplash.com

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