How to Make Your Money Last When You Travel

When I got my remote teacher job and first started traveling, my friends were looking at me as if I was the richest person on the planet. Who can afford staying in Italy for a month? Or enjoy the beauty of the seashore in Turkey for 3 months?

Well, my secret is simple: I calculate each and every penny I spend when I travel, and this is what we call traveling on budget. You don’t need to be rich or retired with thousands and thousands of dollars on your account in order to travel the world. You just need to be smart and watch how much you spend.

So, here are the tips for you on how to make your money last when you travel.

Photo by Nicole Geri on Unsplash
  1. Do your research and plan your trip in advance.

It’s easy to come to a travel agency, pay money, and let them work for you. But traveling on budget is rewarding in its own way: you get to enjoy your freedom and experience life to the fullest.

Besides, nowadays, the internet allows you to find all the information you need without getting out of your house or reading thick books and guidelines on everything you should know about the budget traveling.

Make a list of everything you need money for: air flights, hotels, insurance, food, entertainment and research the lowest prices. Make sure to read the visitor reviews.

2. Create your budget

It’s a good idea to set up a limit of money you’re planning to spend on a travel and try to stick to it. Of course, in real life, things happen, and sometimes you don’t have a choice but spend extra money. However, you can significantly reduce the extra expenses with a proper budget planning strategy.

I usually divide the amount of money I have by the number of days I’m planning to stay at a travel destination to get the amount of money I can afford per day. If I go over my daily budget, I try to compensate the loss by cooking at home, watching TV or walking in the park without buying anything.

3. Never exchange money at the airport

Of course, depending on the country where you are going, sometimes it’s absolutely necessary to exchange money into local currency, at least to reach your destination. In this case, exchange just a little bit that will last you for 1 day only.

Most airports’ rates are crazy, and you may lose from 20 to 100 bucks by exchanging bigger amounts. So, make sure you have enough to get to your hotel. After a shower and your first meal at a local restaurant, go currency exchange hunting.

4. Keep track of all your expenses

You can use the old fashion way by writing down your expenses in a notepad or a journal or a more modern way like using an Excel spreadsheet or even more technology advanced ways, such as apps (“Mint”, “Trail Wallet”).

Photo by STIL on Unsplash

But the most important thing is to keep a record of how much money you have spent today and on what. This will allow you to know whether you are sticking to your daily budget and adjust your spending accordingly.

5. Don’t shop near the tourist attractions

The prices are usually double near the popular tourist attraction, including restaurants and shops. You can save a whole lot of money by shopping at the places where locals usually shop or eat.

The chances are that a fewer people will speak English there, but that’s where GoogleTranslate comes in place. Try using the offline one, as it provides a liittle bit more accurate translation compared to the online one.

Remember, traveling on budget is not just about saving money. It’s also about a more important skill that you will have a chance to develop: self-discipline. And as Dalai Lama said, “Happiness comes through taming the mind, without taming the mind there’s no way to be happy”.

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