How to holiday on a budget 

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Team MONEYME|29 June 2023| 3-minute read

Has the cost of living wreaked havoc on your travel budget? We feel your pain.  

That’s why we’ve put together some handy hacks to help you holiday cheaper. 

Dodge fees with a travel card 🎉 

Fees from international transactions and ATMs add up quickly.  

Instead, consider getting a travel card that offers multiple currencies and doesn’t hit you with too many charges. Wise, for example, offer more than 50 currencies, works via Google Wallet and Apple Pay, and can save you a lot on international transactions. 

Plus, you can buy currency via their app, and we’re of course pro anything app-based!  

Tap into all the free stuff 🚰 

Whether you’re heading to Hobart or Rome, every town has loads of freebies on offer.  

If you’re artsy, look for public sculptures, street performers, and community festivals. If you’re outdoorsy, research local walks, free guided tours, and gardens. 

Swap your credit card for a personal loan 🕺 

A personal loan usually offers a lower interest rate than a credit card and can be a good option if you don’t have the funds to pay for your trip up front. For many people, a loan may feel like a big commitment, but it may actually be the smarter option and help you save a lot on interest payments in the long run.  

So, instead of chucking it all on your credit card, consider planning ahead and taking out a low-rate personal loan to cover the bigger expenses such as flights and accommodation. You can then use your credit card to cover the smaller or unexpected expenses. 

Plus, a loan makes budgeting easier. You get a lump sum and a repayment schedule from the get-go. This lets you plan what you’ll spend and when you’ll repay it.  

An added benefit is you can choose between the many travel cards that exist to find the best deal on currency exchanges, instead of relying on the international transaction fee charged by your credit card provider. 

Research it like you’re at uni ‍🎓 

Before heading off, do some serious research.  

Use comparison sites for hotels, hire cars, and flights. Nab day passes for public transport and popular attractions. Hunt down discounts, such as 2-for-1s.  

Set goals for budgeting and savings 🏆 

It can be tempting to blow cash on fancy cocktails, side trips to exotic spots, and luxe hotels.  

That’s why it’s important to set goals for budgeting and savings–and stick to them. For best results, do this before you leave home and keep yourself accountable with a budgeting app, or by reporting regularly to a pal. 

Go off-peak and off-the-beaten-path 🏕​️​ 

Your dream might be to spend the next snow season in Aspen. But, if budgeting is now a priority, it could be smart to save that till later.  

Holidays are cheaper off-peak and in less popular destinations. Consider spending autumn in a town you’ve never heard of. You’ll save money – and probably have more interesting adventures (without other tourists breathing down your neck).  

Scope out local knowledge 🌇 

The cost of living crisis is global. Nearly everywhere you go you’ll find locals juggling their budgets too.  

They know where to find homestays, cheap eats, and budget adventures. Blogs written by locals are often an excellent source of info. Or, do the old-fashioned thing, and ask around when you get there. 

Get packing 🎒 

Slack packing can mean having to buy a bunch of stuff you have at home when you get to your destination.  

Don’t leave it till the last minute. Work out your itinerary and research the weather, and pack everything you need before you go.  

Time to take flight ✈️ 

Travelling on a budget might sound like a drag. But, it can be a lot of fun. Challenge yourself to getting the most bang possible for your buck. Your bank account will thank you when you get home.