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40 Budget Travel Tips Every Wanderlust Should Know

40 Budget Travel Tips Every Wanderlust Should Know

If you’re missing the road, what better time than now to begin preparations for the next great adventure? But before you get too far into your planning, be sure to check out these great tips and websites to avoid paying too much. These will make saving cash a breeze!

General Budget Travel Advice

1. Stay far away from touristy restaurants and instead go down a few blocks and eat where the locals do.

2. Travel during the low-peak season and avoid traveling during the summer and around holidays.

3. Enjoy a nice picnic instead of eating out. You can experience the local culture’s day-to-day activities, as well, by shopping in their grocery stores.

4. If you’re traveling between countries, try to do as much buying of needed items as possible in the cheaper countries where your dollar can stretch farther, then avoid the souvenirs in the more expensive ones.

5. Understand what your options are for rail passes, especially if you’re in Europe.

6. Buses are the best method of transportation if you’re just trying to get around a city. They are your cheapest option outside of walking.

7. If you do drive though, be careful where you park. If a thief recognizes a tourist’s car they are much more likely to break into it.

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8. Use a wallet-friendly airline. Europe has very competitive airlines and that drives down the price. In many instances you can get a flight to another city for less than the price of a rail pass.

9. Negotiate deals. You can always ask for a cheaper price on the phone with your airline or hotel.

10. Use a museum pass. Many of the passes will pay for themselves and you will be able to keep coming back.

11. Bring a water bottle. Paying for pop and water adds up quickly and that money can get you another night in a hostel every week!

12. If you’re in a hot environment and you have the option, stay at a hostel that only offers cold running water instead of hot and cold. It’s cheaper and you probably won’t be feeling like a hot shower anyway.

13. Hotels generally have a ton of extra toothbrushes, paste, shaving cream, razors, and even phone chargers. Ask if you can have them before you go out and buy them yourself.

14. Go where the dollar is strong. You’ll be able to get a much bigger bang for your buck and be able to extend your trip by weeks or months.

15. Take advantage of complimentary breakfasts to get as much food as possible and save some for snacks later.

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16. Bakeries generally offer half-priced goods at the end of the day to keep things fresh. It’s a great way to get some good food for little outlay.

17. Always look to get free admission to museums and other local activities that may be going on.

18. Don’t go overboard on souvenirs and instead buy something like a postcard or just take your own photos. Plus, the extra weight can add up, as backpackers will know.

19. Do things as a group if possible. Whether that’s carpooling or going on a tour, you can typically get better deals.

20. Don’t take what you don’t need. The extra weight will cost you when you’re boarding the plane and anything you need can be bought cheaply when you arrive.

21. Plan out your day so you know where your money will be going. You don’t have to plan the whole trip, but looking over your day in the morning is a great way to cut costs.

22. Get travel insurance before you leave. While it does cost money, it’s totally worth it if you get injured, and can end up saving you a lot in the long run.

23. If you’re traveling by train, take the night train. It will save on accommodation and once you’re used to it, sleeping won’t be a problem on them.

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24. If you plan on visiting a tourist town, stay next door and take public transit into the town. The prices will be much cheaper in the town over.

Budget Websites

25. Search deals online at JetsetterPriceline, or Hostelworld to pick up some great last-minute deals.

26. Go couchsurfing. You can stay in locals’ homes for free and get a more in-depth experience of their culture.

27. Keep up to date on all things travel miles by following awesome travel bloggers like The Points Guy.

28. Use many different flight search engines, but hands down, Momondo is the best that I have ever seen for scooping up great deals.

29. If you’ve always wanted to travel by sea you can join Crew Seekers and experience what it’s like to be a pirate! Well, kind of.

30. Check out VirtualTourist so you don’t get lost. They crush it in the guide department.

31. There are a lot of great tour companies out there so check out those that are highly rated. I suggest taking a look at G AdventuresIntrepid Travel, and Gate 1 Travel.

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32. Discount cards are a great way to save cash and if you’re a student, STA Travel has one that’s bonkers.

33. Another really cool card for backpackers with fewer restrictions than STA’s card is the VIP Backpackers card.

34. Volunteer on a farm so you can stay for free with WWOOF!

35. Use a travel rewards card while you’re traveling. Every dollar you spend goes right back into your next trip and can earn you a free flight. You can use creditcards.com to compare cards.

36. Check out local programs for possible tax refunds. Thailand has one that will give you 7% back on luxury goods!

37. Get a card with no foreign transaction fees. This will save you a lot of unnecessary costs. You can use creditcards.com again for this.

Apps

38. Check out the Hotel Tonight’s app to get great last minute deals.

39. Use Yelp to find anything and everything in your local area. It’s a great tool to compare nearby businesses.

40. Plan your vacation with Trip Saver by Nomadic Matt to keep track of your budget. You can set daily spending limits too!

Featured photo credit: Siim Teller via flickr.com

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Published on November 20, 2018

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The Best Ways to Save Money Even Impulsive Spenders Can Get Behind

The truth is, there are many “money saving guides” online, but most don’t cover the root issue for not saving.

Once I’d discovered a few key factors that allowed me to save 10k in one year, I realized why most articles couldn’t help me. The problem is that even with the right strategies you can still fail to save money. You need to have the right systems in place and the right mindset.

In this guide, I’ll cover the best ways to save money — practical yet powerful steps you can take to start saving more. It won’t be easy but with hard work, I’m confident you’ll be able to save more money–even if you’re an impulsive spender.

Why Your Past Prevents You from Saving Money

Are you constantly thinking about your financial mistakes?

If so, these thoughts are holding you back from saving.

I get it, you wish you could go back in time to avoid your financial downfalls. But dwelling over your past will only rob you from your future. Instead, reflect on your mistakes and ask yourself what lessons you can learn from them.

It wasn’t easy for me to accept that I had accumulated thousands of dollars in credit card debt. Once I did, I started heading in the right direction. Embrace your past failures and use them as an opportunity to set new financial goals.

For example, after accepting that you’re thousands of dollars in debt create a plan to be debt free in a year or two. This way when you’ll be at peace even when you get negative thoughts about your finances. Now you can focus more time on saving and less on your past financial mistakes.

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How to Effortlessly Track Your Spending

Stop manually tracking your spending.

Leverage powerful analytic tools such as Personal Capital and these money management apps to do the work for you. This tool has worked for me and has kept me motivated to why I’m saving in the first place. Once you login to your Personal Capital dashboard, you’re able to view your net worth.

When I’d first signed up with Personal Capital, I had a negative net worth, but this motivated me to save more. With this tool, you can also view your spending patterns, expenses, and how much money you’re saving.

Use your net worth as your north star to saving more. Whenever you experience financial setbacks, view how far you’ve come along. Saving money is only half the battle, being consistent is the other half.

The Truth on Why You Keep Failing

Saving money isn’t sexy. If it was, wouldn’t everyone be doing it?

Some people are natural savers, but most are impulsive spenders. Instead of denying that you’re an impulsive spender, embrace it.

Don’t try to save 60 to 70% of your income if this means you’ll live a miserable life. Saving money isn’t a race but a marathon. You’re saving for retirement and for large purchases.

If you’re currently having a hard time saving, start spending more money on nice things. This may sound counterintuitive but hear me out. Wouldn’t it be better to save $200 each month for 12 months instead of $500 for 3 months?

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Most people run into trouble because they create budgets that set them up for failure. This system won’t work for those who are frugal, but chances are they don’t need help saving. This system is for those who can’t save money and need to be rewarded for their hard work.

Only because you’re buying nice things doesn’t mean that you’ll save less. Here are some rules you should have in place:

  1. Save more than 50% of your available money (after expenses)
  2. Only buy nice things after saving
  3. Automate your savings with automatic bank transfers

These are the same rules that helped me save thousands each year while buying the latest iPhone. Focus only on items that are important to you. Remember, you can afford anything but not everything.

How to Foolproof Yourself out of Debt

Personal finance is a game. On one end, you’re earning money; and on the to other, you’re saving. But what ends up counting in the end isn’t how much you earn but how much you save. Research shows that about 60% of Americans spend more than they save.[1]

So how can you separate yourself from the 60%?

By not accumulating more debt. This way you’ll have more money to save and avoid having more financial obligations. A great way to stop accumulating debt is using cash to pay for all your transactions.

This will be challenging, depending on how reliant you are with your credit card, but it’s worth the effort. Not only will you stop accruing debt, but you’ll also be more conscious with what you buy.

For example, you’ll think twice about purchasing a new $200 headphone despite having the cash to buy them. According to a poll conducted by The CreditCards.com, 5 out of 6 Americans are impulsive spenders.[2]

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Telling yourself that you’ll have the discipline to not buy things won’t cut it. This is equal to having junk food in your fridge while trying to eat healthy–it’s only a matter of time before you slip. By using cash to make your purchases, you’ll spend less and save more.

A Proven Formula to Skyrocket Your Savings

Having proven systems in place to help you save more is important, but they’re not the best way to save money.

You can search for dozens of ways to save money, but there’ll always be a limit. Instead of spending the majority of your effort saving, look for ways to increase your income. The truth is that once you have the right systems in place, saving is easy.

What’s challenging is earning more money. There are many routes you can take to achieve this. For example, you can work long and hard at your current job to earn a raise. But there’s one problem–you’re depending on someone else to give you a raise.

Your company will have to have the budget, and you’ll have to know how to toot your own horn to get this raise. This isn’t to say that earning a raise is impossible, but things are better when you’re in control right? That’s why building a side-hustle is the best way to increase your income.

Think of your side-hustle as a part-time job doing something you enjoy. You can sell items on eBay for a profit, or design websites for small businesses. Building a side-hustle will be on the hardest things you’ll do, be too stubborn to quit.

During the early stages, you won’t be making money and that’s okay. Since you already have a source of income, you won’t be dependent on your side-hustle to pay for your expenses. Depending on how much time you invest in your side-hustle, it can one day replace your current income.

Whatever route you take, focus more on earning and save as much as possible. You have more control than you give yourself credit for.

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Transform Yourself into a Saving Money Machine

Saving money isn’t complicated but it’s one of the hardest things you’ll do.

By learning from your mistakes and rewarding yourself after saving you’ll save more. What would you do with an extra $200 or $500 each month? To some, this is life-changing money that can improve the quality of their lives.

The truth is saving money is an art. Save too much and you’ll quit, but save too little and you’ll pay for the consequences in the future. Saving money takes effort and having the right systems in place.

Imagine if you’d started saving an extra $100 this next month? Or, saved $20K in one year? Although it’s hard to imagine, this can be your reality if you follow the principles covered in this guide.

Take a moment to brainstorm which goals you’d be able to reach if you had extra money each month. Use these goals as motivation to help you stay on track on your journey to saving more. If I was able to save thousands of dollars with little guidance, imagine what you’ll be able to do.

What are you waiting for? Go and start saving money, the sky is your limit.

Featured photo credit: rawpixel via unsplash.com

Reference

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