Financial Planning

Financial planning is important for budget travelers. The last thing you want is to run out of money in a strange town where you don’t speak the language. However, this is easily avoidable and you can actually travel cheaply by following these budgeting tips.

Air flights are normally the most expensive part of traveling. Yet, with planning and perseverance, you can drastically reduce the cost of flying. Booking months in advance or catching last minute flights are real money savers. Also, avoid big commercial airlines, smaller ones, while not as luxurious, are much cheaper and can save you a fortune in the long run. Websites like SkyScanner are great for finding the cheapest flights going.

Another big traveling expense is accommodation. If hotel costs are wreaking havoc with your financial plan then consider alternatives. One option is couch surfing, where you sleep on someone’s couch for free. A longer term alternative is working for room and board; websites like World Wide Opportunities for Organic Farming (WWOOF) lets you work on a farm in return for a place to sleep and regular meals. These are not only great ways to save money, but they also offer a fantastic opportunity to meet the locals.

Food also needs to be factored into your financial plan. Dining out every night will quickly eat up your savings, so why not cook yourself? All you need is a small gas cooker, a sauce pan, some basic cutlery and groceries.

Prices vary from country to country. In poorer parts of the world your money will go much further and you can feel pleased for contributing to their economy. This is a great way to reel in your expenses and will likely prove far more adventurous!

Also, talk to the locals and other travelers. They often prove an invaluable source of information on how to avoid the tourist traps and where the cheapest places in town are. This not only reduces your costs, but helps you avoid the touristy areas of each country you visit.

This isn’t an exclusive list, but putting these ideas into action will greatly reduce your traveling costs and have your traveler’s financial plan with far fewer figures at the bottom of the expenditures list. Happy Traveling!