Traveling on a Budget

July 24, 2019

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travelling on a budget

Traveling on a budget is possible, don’t be discouraged! Nowadays it is even easier to do because of new services like Uber and AirBNB

 

A common misconception about travel is it needs to be expensive. This is far from true! Good memories can be made and new adventures embarked on with little money. All you need is a new perspective and the right information.

My perspective of traveling on a budget has become very simple and has personally helped me save. All I need is a bed and a shower. It doesn’t have to be comfortable, I have that at home. Travel is about new experiences, and doesn’t have to be treated as  a vacation. 

What is going to make your trip significantly cheaper is saving in the three major areas: Food, lodging and transportation. 

Food 

If you have access to a kitchen, grocery shop and make some meals instead of eating out all the time. If you don’t, buy simple breakfast food that can be eaten on the go, such as fruit or bagels. In Central America and Europe there are typically vendors selling food at street markets. This is cost efficient and some of the most delicious and authentic food out there!

 

Lodging

Airbnb is saving millennials lots of money. On the app you can find places to stay for $15-40 per night. Another plus is: no crazy fees like with hotel chains! Other platforms such as Couchsurfer, help travelers find a nearby bed, air mattress or floor to stay on for a reasonable price. Similarly, hostels are always cheap go-to option.

 

Transportation

When you are at your destination, take public transportation whenever possible. It will take some planning to get to places on time but it beats renting an expensive car. Another benefit is you won’t have to worry about parking or gas expenses. If you want more info about getting a cheaper flight to your destination, read here.

 

More Tips 

Additionally, there are other things to be mindful of, that can save you some change. 

First, pack light! Less stuff to haul around means cheaper plane tickets. Second, don’t splurge and shop everywhere you go. Third, thoroughly prepare before the trip. (That way you won’t need to last minute spend on necessities like a charger or toothpaste.)

Another big tip is to choose cheaper destinations and travel in the off season. Flight prices go down when it isn’t summer break or the holidays. Also, the American dollar goes farther in some countries such as Thailand, Eastern Europe, or Central America. If money is tight but you are itching to travel, opt to visit these places instead of hot tourist hubs. Save Italy and Paris for later in life.

 

Conclusion

Sacrificing comfort for a good price can save you a lot of money in the long run.  Those traveling on a budget should live within their means and if that means sharing a room with a few strangers so be it!

Post by Phil Ratcliff

Phil Ratcliff, President of rebel Financial, is a senior financial advisor that holds an AIF®, CFP®, ChFC®, and CLU® certifications. He started his career at American Express Financial Advisors in 2003, then moved to AXA Advisors for 7 years before founding rebel Financial LLC in 2013.

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