Make the most out of your hard-earned money when you travel.
Following years of disrupted travel, travellers are finally able to resume their holiday plans.
Whether it’s a short domestic trip, or a long-haul international adventure, it’s easy to get caught up in the moment and build up some unwanted debt while travelling.
To ensure you don’t regret your next holiday, here are five tips to help you travel on a budget.
1. Set a holiday budget
Setting a realistic holiday budget doesn’t take the fun out of your trip – it simply helps to ensure you have the funds to support your plans. Your budget should list all your travel expenses, including all transportation, accommodation, food and drinks, events, tours, attractions, and emergency money. From there, you can set yourself a daily spending limit so you can enjoy sight-seeing and relax knowing you’re not blowing the budget.
2. Shop around before booking
With the increased competition in the travel industry, there’s no better time to compare the market and find some great travel deals. Exploring travel sites like Booking.com, Groupon Travel, Airbnb or Expedia could help you to understand your costs before booking. It could also pay to chat to a local travel agent or speak directly to the company to ensure you are getting the best offer.
3. Avoid extra fees
Splurging from the mini bar might be a fun idea at the time, but when you’re snacking on a $15 tiny packet of peanuts, the costs can quickly add up. It’s okay to enjoy the perks of resort living, but be mindful of the extra fees, such as parking, luggage, Wi-Fi, cleaning, and credit card fees. Asking questions ahead of your stay could ensure there’s no surprise expenses on check out. If you’re going overseas, watch out for any extra mobile phone fees and switch off data roaming to reduce your data bill.
4. Get a travel card
If you’re planning to travel overseas it could be worth getting a travel card to lock in the exchange rate of multiple currencies, no matter how the Australian dollar moves. Be mindful of any fees when selecting a card and be sure to compare the market. A travel card could help you manage your holiday costs by allowing you to set alerts when your balance gets low and track your spending. Using a travel card or your credit card could also help to protect your hard-earned money if your card is lost or stolen.
5. Make sure you’re covered
Travel insurance doesn’t just cover injuries, it could also cover you for other holiday disasters, including lost luggage, cancellation of non-refundable pre-paid travel and accommodation, rental car damage, or being stuck without your passport. BCU Bank offers a great range of travel insurance products which will give you peace of mind on your next holiday.