Hey everyone! This post is going to be slightly different from my normal financial posts but I’m planning a trip to New York and have been very excited about it. Fear not, this post still has tons of interesting tips for traveling on a budget. Sometimes the best investment we can make is in our own happiness so I hope you find something useful in this post! If you like posts like this, I’d be happy to start thinking about ways to expand what types of topics I cover (obviously still related to finances). Enjoy!
So many people dream of traveling the world, and most people tell you, “Travel when you’re young. Enjoy what the world has to offer before you settle down and have a family or life gets too hectic.” The issue for a lot of us is whether we are young or not, we simply just don’t have the money to afford travel. There’s a lot to consider when traveling on a budget – flight cost, room cost, dining expense, travel expense while there, plus the cost of any other activities you may be interested in. After considering all these factors, many people tend to write off travel as something that is simply out of their budget. What if I told you it doesn’t necessarily have to be?
I’ve been doing some travel research recently because I have a trip planned to New York at the end of the year. By no means do I have a big budget to spend on an extravagant trip with all the bells and whistles, but as I’ve learned, traveling on a budget can be very simple with a few of these tips. Throughout the rest of this post, I’m going to share some of the tips I’ve learned and some of the strategies I am implementing to prepare for this trip.
1. Create a plan and a budget
First and foremost, you have to do some planning before you leave. Jumping on a plane and hoping for the best is not only inefficient but will likely cost you extra money. Creating a plan for things you’d like to do when you get to your destination is a perfect way to not only get a better understanding of what there is to offer but also how much it will cost you. This also allows you to set some realistic expectations for what you can and cannot afford.
Once you have an idea of things you’d like to do, create a budget that allows you to do those things but also takes into account any extra food expenses and any potential emergencies that may pop up.
2. Avoid Hotels
We all dream of staying in the nicest hotels or resorts, however, these options tend to come with a pretty hefty price tag. Try finding AirBNBs or similar style services. They are often times slightly cheaper since you’re not paying for all the amenities of a hotel that you will likely not be using anyway.
While we’re on the subject, try expanding your desired area of stay. It’s obviously nice to wake up, walk out the door, and be in the thick of all that your destination has to offer. However, this convenience tends to come with an inconvenient price tag. Consider looking for places just outside of major tourist areas. You will likely save a bit of money per night. This goes into my next point…
3. Use Public Transportation
Depending on where you are traveling, public transportation can be an awesome way to save a bit of money while getting the unique opportunity to be more engulfed in the culture of the place you’re traveling. For example, I intend to use a lot of public transportation when I go to New York. Using public transportation is oftentimes a lot cheaper and even more convenient than renting out a car for the duration of your trip. Granted, there are some destinations where public transportation may not be realistic and may not get you exactly where you want to go. However, if you can avoid having to pay for a car, gas, and parking wherever you go, you can save a lot of money. At the end of the day, it comes down to how well you…
4. Do Your Research
There are several things that are important to research before taking a trip. Making sure you have some of this knowledge can help you make smarter and safer decisions while away on vacation.
Resources in the area:
Going along with my previous point, researching what resources are available such as public transportation, and safety resources can save you a lot of money, but can also keep everyone safe while away in an unfamiliar area.
Cultural Research:
This may not necessarily be related to traveling on a budget and mostly applies to travel out of the country, but be sure to know about certain cultural expectations. The last thing you should want to do while visiting another country is be disrespectful to other countries’ practices and societal norms. As someone that lives in a pretty prominent tourist destination, the worst thing you can do is be an annoying tourist who causes trouble. Take some time to research cultural norms for your destination, it will make your experience a lot easier and more pleasant.
5. Book in Advance
In the spirit of planning ahead, looking for flights as early as possible typically allows you to get the best prices. Fun fact, many airlines make seats available up to a year early. The longer you wait, and the closer the trip date gets, the more expensive the flights tend to be. Looking for flights early not only allows you to get the best deal from your favorite airlines, but also allows you to shop around and see what the other competitors have to offer. Many of us who have traveled before may have our preferences of airlines, but being open to other airlines may just save you a couple hundred dollars depending on the flight.
6. Use Credit Points
I plan to go more in-depth on this topic in a future post, but many credit cards will give you points that you can redeem for rewards based on how often you use your card. I’m sure many of you are familiar with this system but may not be maximizing your rewards. If you play your cards right (pun intended) you can get whole flights, or hotel stays for free. Using your points is an awesome way to save hundreds, if not thousands of dollars on travel. I won’t go too in-depth on this topic here because it is a hefty topic and deserves its own post, however, be on the lookout for a post on this very soon!
Racking up points and using them for travel purposes is one of the best ways to save tons of money. If you intend to do a lot of traveling it may be worth it to do research on cards that offer higher rewards for travel. Opening up one of these travel cards and maximizing your rewards can go a long way and will even allow you to have more money for excursions while away at your destination.
Travel Doesn’t Have to Break the Bank
Whether going across the world, or across the country travel does not have to be such a daunting financial commitment. Traveling on a budget and still enjoying yourself is very possible. When traveling on a budget, your best friend is good planning. Spontaneity can be fun but oftentimes comes with unexpected expenses. Creating a plan will allow you to create an adequate budget, and make sure you aren’t wasting your limited time trying to figure out a plan.
Making sacrifices when possible will also help you save tons of money. It is tempting to want to ‘live like Larry’ but some of us are just simply not in a position to pay an arm and a leg on travel.
Living frugally does not have to mean avoiding all fun and enjoyment in life. It is totally possible to live life on a budget and still enjoy what the world has to offer. As I said in the intro, sometimes the best investment you can make is in your happiness. Hopefully, you found something of use in this post. I know this was slightly different from my normal stuff but if you enjoyed it let me know! If not, I’ll be back next week with our regularly scheduled programming.
