5 Ways to Budget Yourself While Traveling the World

5 ways to budget yourself when traveling the world

It’s safe to say travelling isn’t cheap. With so much to buy and so much to do, you’ll find that the only way to do it is by budgeting – but how? Thankfully, there’s plenty of tried and tested tricks out there to ensure you’re not bankrupting yourself and coming home out of pocket.

Here are just five essential ways to budget yourself when travelling the world.

Be sure to haggle

Wherever you are in the world, you’re likely going to have an encounter where haggling is simply necessary. It often occurs in marketplaces – a vendor will clock that you’re a tourist with perhaps no knowledge of normal prices in the area, and will therefore hike them up to see if they can scam you out of more than you should realistically be paying.

If you’ve never haggled before, don’t fret – it’s easier than you may think. Approach the vendor with a calm and reasonable demeanour, and be realistic with your negotiations. You can sometimes save up to half of the original asking price as detailed by TINZ, so it’s definitely worth a try.

Have a daily budget

One of the best ways to save money that has been tried and tested by travellers from all over is a daily budget. Although it sounds simple, the benefits of a daily budget are endless – you may be surprised at just how much you could potentially save.

Make sure you’re accounting for every factor of your trip, from the necessities such as accommodation and transport all the way through to the smaller things, such as food and drink. Be sure to have a good amount for leisure, too, as well as some savings for the potential unexpected fees that could arise during your travels.

Plan in advance

Be sure to book things in advance to get the cost out of the way. Things such as accommodation and activities can almost always be booked before the day you arrive, and sometimes you can discover some potential savings along the way.

If you’ve got a definite plan of the things you’re planning on doing and the places you want to stay, book and pay in advance to get the costs out of the way. At least then you’ll know exactly how much money you have left over.

Skimp on accommodation

Talking of accommodation, you may have to wave goodbye to the five-star resorts in favour of something cheaper. Despite how desirable these hotels are, they’ll also be detrimental to your wallet. If you can realistically afford it, go ahead – but if you’re really trying to budget, there are other options.

Consider couch-surfing – there’s a few apps out there to aid you in finding a local room or two. A benefit of this is you’ll get an authentic insight into home life in your destination. And, of course, don’t forget the good old hostels. They’re popular for a reason, and with many of them being as clean and comfortable as their more expensive counterparts, they’re a no-brainer.

Try the street food

Food can often be a sneaky culprit when it comes to spending money. If you’re constantly dining in expensive restaurants, your budget will quickly dwindle. So, take to the streets – street food often offers some of the best, most delectable and cheapest dishes in the area.

You’ll find some of the best food in Asia, with countries such as India and Thailand standing out in particular. With dishes such as curries, noodles and even desserts available for a matter of pennies in some cases, you’d be a fool to miss out on getting a portion yourself.

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