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Is traveling the world on your bucket list? Are you worried about the expenses? Between the transportation, the meals, and the sightseeing, it's easy for your budget to be broken.

However, with the right approach and mindset, you'll be able to explore places without breaking the bank. We've compiled a list of top 6 tried and tested tips to help you plan your next holiday on a budget.

1. Avoid Peak Season

Avoid planning trips during school holidays as this is when airlines and hotels hike up their prices. Traveling during the off-season will save you a lot of money as the travel industry lower their prices to attract customers during that period. Furthermore, you'll notice fewer tourists during the off-season and still pleasant weather for the most part.

2. Join Travel Rewards Program

Many airlines, hotels, and credit card companies have a rewards program in place where you can earn points or even free flights and hotels based on how much you spend. It's free to sign up, and you're very likely to earn thousands of bonus points just for signing up.  Some travel cards charge no annual or foreign transaction fees, already saving you a fortune.

Learn more about the best travel reward programs of 2020 here to hack your way to a cheaper holiday.

3. Travel to Cheap Destinations

Traveling on a budget means choosing your destination wisely. For example, countries like Iceland and Switzerland are known to be expensive, whereas countries like Thailand, India, Vietnam, China, Nepal, and Latin America give you great value for your money.

You can set up price alerts on travel websites such as Skyscanner, Kayak, and TripAdvisor to make sure you don't miss out on a cheap last-minute flight they're trying to sell out.

4. Be Accommodation-Savvy

Staying at hotels can be very expensive. To save money on accommodation, you could opt for one of the following options:

• Plan a trip to a city in which you've got family and friends with who you could stay. 

• The rise of the sharing economy means that services and websites such as Couchsurfing and Servas allow travelers to connect with locals who are willing to let them stay with them for free if they've got a spare bed or couch.

You could also use the sharing economy to find rideshare options and home-cooked meals with local chefs. Furthermore, locals know which supermarkets, bars, and restaurants offer the tastiest food at the lowest price, so you'll save a lot of money and get off the tourist track and get into the local life. It's a win-win situation.

• If the above options don't work for you, you could share a room in a hostel or at an Airbnb. This, of course, is not free, but you can find cheap deals. 

In all the places above, you'll have access to a kitchen, which means you'll be able to cook your own meal and save money on dining. Alternatively, while you're away, you could list your space with websites like Airbnb to fund your trip.

5. Work While Traveling

Thanks to the internet, working remotely hasn't been easier. You could either continue working for your current job or opt for freelancing work to increase your budget.

You could work locally too. From working part-time at a restaurant/café/hostel to house sitting, teaching English, or volunteering at the WWOOF you'll be able to earn extra cash. If you've got a special skill, you could offer your service to a local vendor in return for free goods. The sky is the limit – get creative.

6. Choose Free Activities

If you type on Google 'free things to do in XX', you'll be surprised to learn how many cool things you can see and do without paying a dime. These include free museums, hiking to viewpoints, visiting historical or religious buildings, and so much more. We highly recommend that you look into free city walking tours too. They tend to be 2-3 hours long, give you a solid introduction to the city, and you pay the guide whatever you can afford - People usually tip a minimum of €5.

Furthermore, don't forget that many places offer discounts if you've got a student, teacher, or youth card, so don’t shy away from asking.

Summary

Traveling on a budget is all about taking advantage of helpful websites, finding ways to lower your expenses, and even making money as you travel. With some planning, flexibility, and the right mindset, you'll be able to transform your travel dreams into a reality. 

Despite the six tips stated above, many aspiring travelers borrow money to see the world.  At Axo Finans, travelers can apply for a personal loan to cover the costs associated with holidays such as tours, airfares, accommodation, etc., with flexibility in interest rates and payback periods. Travel worry-free!

 


6 Tips For Traveling the World on a Budget
Digital Mag

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