Backpacker Blog: Travel Budget 101

How to Get the Most Out of Your Travel Budget

            Hey, we know traveling can be quite expensive. Knowing how to balance your budget is an important skill to master, especially if you’re on a gap year or travelling for longer periods of time. The ability to travel without overspending can open up new doors and make reaching other destinations possible.

Here are a few tips for managing your traveling budget. 

1. Plan your trip well in advance, or at the last minute

            In order to book flights, hotels/hotels or travel packages at a discounted rate it is best to either plan ahead or at the last minute. Planning ahead will allow you to book airline tickets, hotels and hostels before their openings become limited and they raise their prices. Not a planner?  No problem, you can commonly find reduced rates when booking your trip at the last minute as a result of airlines and hotels offering deals to fill open seats or rooms. Last minute booking requires a level of flexibility that most travelers are not lucky enough to enjoy, but if you are, this is not a bad way to go. There are lots of websites that can help you find the best 11th hour steals.

 

2. Travel with friends

Traveling with friends is usually more enjoyable and is almost always cheaper. It gives you the benefits of splitting accommodation, transportation and food costs throughout your trip. Also, vacationing in a group will make it possible for you to receive group rates on attractions, events and places to stay.

 

3. Take the bus (or the tram, or the subway)

Taking cabs or renting vehicles can account for a major piece of your travel expenses. Many cities and popular tourist destinations have extensive, reliable and easily navigated public transportation systems that are relatively inexpensive to use. Use these systems for a great way to get to know your destination, and its culture, a little better throughout your stay!

 

4. Prepare at least one meal per day

            Eating out every day can take a large bite out of your travel budget. Depending on where you’re visiting, money spent on food can add up rather quickly. The solution to this problem is to simply eat out less by preparing your own food daily and to take advantage of any complimentary meals. Doing so will help you avoid the unnecessary spending of eating out for every meal and help you save money for a high-quality meal from time to time.

 

5. Travel in the off-season

Many tourist destinations are seasonal attractions and have a higher volume of tourist traffic during part of the year. Traveling to these types of locations during the off-season is a good way to save money on accommodations and miss the headache of overcrowding. These types of locations struggle to get business during their less busy seasons. As a result, they will offer deals to attract visitors and are commonly just as beautiful and fun in the off-season, so take advantage of this! Whistler, BC, Canada is a good example. It is known for its world famous skiing during the winter but it is arguably more beautiful and equally as fun during the summer.

 

Bio: Esther Munoz Tong is the Sales and Marketing Manager for Palmers Lodges, award winning boutique hostels in London, UK.