The Best Ways to Save Money While Traveling Overseas
When you’re planning your first trip overseas, it can be hard to know what to expect or how much everything will cost. How much should you plan to spend on airfare? What about lodging and food? Luckily, there are lots of budget-saving tips that can help you make the most of your travels abroad without busting your wallet. Here are our top ten tips on how to get the most bang for your buck while traveling overseas!
Use a Currency Card
Before leaving on your trip, get a low-cost currency card. They’re preloaded with an amount of foreign currency equal to or greater than what you anticipate spending over your trip and allow you to avoid exchanging money at airports and ATMs. You also don’t have any control over how much (or little) is loaded onto your card, which makes it easy to overspend. The best low-cost options include Triposo Card, Fair FX, and XE Currency Cards.
Research Prices Beforehand
It’s important to research prices for products and services that are common in your home country prior to going overseas. For example, a day trip on New York City’s subway system can cost you $2.50 per ride if you buy a single ticket. However, if you buy a MetroCard (which you can refill), that same journey will cost $1.75 per ride—an extra dollar for five rides may not seem like much, but it adds up over time!
Invest in Packing Light
The more stuff you carry with you, the more it will cost you. If you can manage to travel light, not only will you get better exchange rates by paying for your purchases in local currency instead of in dollars, but you’ll also save on checked bag fees and save yourself from lost or stolen luggage. Invest in a good travel-sized backpack and see how much money and headache can be saved by traveling light.
Compare Airline Options
If you want to keep travel costs down, you’ll need to be willing to move around. Don’t let a fixed schedule limit your itinerary; there are plenty of low-cost airlines that will get you where you want—and fast! If a round trip ticket will cost you less than $400, there is no excuse not to fly at least part of your way. A return flight from San Francisco to London can cost as little as $300 on Ryanair and other low-cost carriers.
Bring a Power Bank and/or Universal Adapter
Check your phone’s adapter and see if it’ll work in other countries. If not, a power bank can be a lifesaver while abroad—even if you have a fully-charged phone, local Wi-Fi can suck away much of your battery life. A power bank will allow you to charge your device even when there isn’t an outlet nearby.
Plan Ahead For Transportation Costs
Research transportation costs for getting around within your destination, as well as other forms of public transportation (such as busses, ferries and taxis). Then, plan out how you’ll get from place to place while abroad. This will help you budget wisely and save big on travel expenses.
Get Cash from ATMs
Unfortunately, you can’t rely on credit cards for international travel. You might be able to get cash from ATMs (depending on where you’re traveling and how much money is in your bank account), but using ATMs overseas can be expensive—and with few businesses accepting American credit cards, there’s a high likelihood that you’ll find yourself using ATMs frequently.
Book Accommodation Ahead of Time
Although not all of us have as much time as we’d like, it is still a good idea to book your accommodation ahead of time. Making sure you have a roof over your head before you arrive at your destination can save money on booking fees and cut down on extra costs (and headaches) later on. Find out about any special deals that hostels or hotels might be offering if you book in advance, too!
Keep an Eye Out for Deals
When traveling overseas, it’s crucial to research and learn about currency exchange rates. Look up how much your home currency is worth in comparison to what you plan on exchanging—for example, if you’re going to Japan and exchanging $100 USD for 100 yen, that equates to roughly a 1:0.81 exchange rate.