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How to Get the Most Out Of Your Money While Traveling



Whether you’re traveling for business or pleasure, it’s important to consider your budget and keep track of your spending. Most people don’t anticipate the extra costs associated with travel—such as airline baggage fees or unexpected lodging costs—and end up spending significantly more than they had anticipated. As a result, many travelers have found themselves in debt after their trip is over. To get the most out of your money while avoiding costly mistakes, follow these tips:

Make a budget

Before you leave, set a budget and stick to it. Plan for the obvious costs—hotel rooms, food, transportation—but also set aside money for unplanned expenses like emergencies or surprise fees.

Be realistic about what you can afford. If your bank account has just enough to get you through one month of traveling, don’t plan on staying in five-star hotels or splurging on expensive meals every night (unless those are things that make life worth living for you). It’s important to remember that most travelers can expect to spend less than $50 per day if they’re being frugal with their money and maximizing their savings potential by finding affordable accommodations and cooking most of their own meals instead of eating out constantly. Just because someone else did something doesn’t mean it’s possible for everyone!

Set up automatic payments so the bills get taken care of while you’re away from home base. Make small sacrifices now so later on down the road there will be plenty more good times waiting around every corner; so start small today — maybe skip dessert tonight –and dream big tomorrow: someday soon all those little sacrifices might lead straight into paradise!

Avoid fees

Avoid ATM fees. You don’t have to pay ATM fees! ATMs are everywhere, and they can be used almost anywhere in the world—except maybe in rural areas or at international airports.

Avoid currency exchange fees. Rather than paying a service fee for exchanging money, you could use that money for something else more valuable.

Don’t get charged for foreign transaction fees on your credit card if you can help it. And if you do get charged for this type of fee on your credit card, call customer service immediately so they can help resolve the issue with your bank or credit card company (this one is especially important when traveling abroad).

Route your travels through less expensive destinations

Use a travel website. There are a number of websites that can help you find cheap destinations, like CheapOair and Skyscanner. These sites can be used to compare flight costs, hotel accommodations, and even activities in different cities around the world so you may want to check them out if you’re traveling abroad in the near future. You can also look into private plane companies to be able to go wherever you want, such as Access Global private jets! Then you can land at whatever destination you would like.

Consider visiting countries with lower costs of living. If your budget is limited then consider visiting some countries with lower costs of living than what is comparable here in North America (e.g., Mexico). It’s also important to note that not all countries will have similar prices across their entire country, but there are usually certain areas where costs are more affordable than others—for example, Mexico City vs Cancun! So if possible try narrowing down which region(s) within each country would be most beneficial for someone on a tight budget such as yourself.

Don’t buy travel insurance

This is the most common mistake people make when traveling. They buy travel insurance assuming that it will protect them from any possible emergency and pay out claims, but it’s not as simple as that.

Travel insurance is expensive and often overpriced. Many credit cards offer much better protection than your typical travel policy, especially if you have a premium card like the Amex Platinum or Chase Sapphire Reserve. Just call them up and ask what they can do for you—they will usually cover lost baggage, trip cancellation/interruption, medical expenses, etc., at no extra cost (though some may require an additional annual fee). They won’t cover everything though; if you lose your passport or have to cancel because of illness (or even death), then yes—you could still need some kind of supplemental insurance coverage to get through those situations without going into debt or losing money on nonrefundable flights, etc..

Find inexpensive lodging

If you’re on a budget, finding inexpensive lodging is where it’s at. I personally love hostels for this reason—they’re typically really cheap and have everything you need right there: beds, bathrooms, and even communal kitchens. Couchsurfing is another option if you want to stay with locals or just not sleep in an actual bed (although they do often have couches). Camping is also a great option if you can find a spot near town so that all your meals aren’t eaten at the campground.

Try to look for a place with these basic amenities:

  • Kitchen
  • Washing Machine (or laundry machines)
  • Gym

Use public transportation

Using public transportation is a great way to save money and get around, as well as being more convenient and safer than driving. It’s also healthier because you’re not sitting in traffic or air pollution.

Public transportation gives you the chance to meet the locals while they’re going about their daily lives and learning about their culture. Plus it’s fun!

Eat like a local

To get the most out of your money while traveling, eat like a local. The best way to do this is by sticking to the food and drinks you can find at your destination. This will help you learn about the culture and experience it in an authentic way. Many travelers end up having delicious meals without breaking their budgets because they’ve done their research on where to go for cheap food. While eating like a local may not always be possible (for example, if you’re traveling through rural areas), sometimes all it takes is asking someone who lives there for advice or recommendations on what’s good to eat or drink at that particular location.

Use your credit card to earn rewards

You can use your credit card to earn rewards, avoid foreign transaction fees, avoid ATM fees, and even earn interest on your spending.

In addition to earning points or miles when you make purchases with a travel rewards card, many also offer airport lounge access. This is especially important if you’re looking to get some shut-eye before a long flight.

If you plan on using your credit card overseas then it’s important that you have one that doesn’t charge foreign transaction fees or currency conversion fees (or both). Having these can really eat away at any benefits of using the card in the first place!

Be smart about how you handle your money while traveling.

  • Use a credit card with rewards and benefits.
  • Look for free Wi-Fi and entertainment options that don’t cost money.
  • Look for free attractions and activities around you, or that can be accessed easily by public transportation (in addition to being more economical).


The bottom line is that you can have an amazing time traveling without spending a lot of money. You just need to do a little research and think about how much you want to spend on each aspect of your trip. Make sure to keep your budget in mind when booking flights or hotels so there are no surprises later on down the road!


So, what do you think ?