Travelling around the world is an expensive hobby, in this post we will share all our tips on how you can avoid overpaying fees and beating the currency conversion. So let’s break down our best money-saving travel hacks.
NEVER EXCHANGE MONEY IN AIRPORT
Once you’re in an airport terminal and need to change dollars for Baht, Rupiahs, Pesos etc… foreign exchange bureaux know they have little competition and will offer you the lowest rate because simply put, you don’t have much of a choice.
To avoid this we highly recommend you do ALOT of shopping around to find the best rate, don’t leave it until the last minute and don’t be sold on the good old fashioned ‘Commission Free’. If it is commission-free, they could be making their money somewhere so just keep shopping around.
AVOID USING YOUR NORMAL DEBIT CARD
Just because you can use your card abroad, it doesn’t mean you should. Most major banks have a 3% fee for international withdrawals and transactions. It may not seem like much but if you spend $10,000 while travelling, it means your spending $300 on fees alone. << that is a whole lot of instant noodles
WHAT ALTERNATIVE DO I HAVE?
If you have a work/student visa, your best option is to open a bank in that country. That way you aren’t paying the ridiculous fees to spend your money and if there any hiccups with your banking, you can simply walk into a branch and solve your problems.
HOW DO I TRANSFER MONEY FROM MY ACCOUNT?
Transferwise is an online money transfer service that supports over 100 currencies and will ALWAYS give you the best conversion rate. They offer a borderless account that allows you access to every currency and works just like a normal bank card. Using Transferwise is one of our favourite and most used money-saving travel hacks.
To register for a Transferwise account, click HERE and your first transfer up to $1000 will be FREE.
CHECK YOUR MOBILE TARIFF
Living in this new era of technology can be frustrating and costly. Always check your phone plan before you make the trip and figure out if you will be better off getting a local sim card from the country you are visiting. There is nothing worse than getting back from your travels and being slapped with a $400 phone bill. BE SMART. We find local sims to always work out cheaper. You can simply pick one up at the airport, or if you have done your research (which we recommend) head straight to the company you wish to get a sim with.
USE AIRBNB OR HOSTELS INSTEAD OF HOTELS
Okay, we have all seen Hostel and heard the horror stories, but honestly, they aren’t as bad as they are portrayed. We love hostels, it’s a great way to socialize and sleep on the cheap. If you are travelling as a couple and want privacy, sometimes private rooms can be more than they are worth so check out what Airbnb has available.
Click HERE to get up to $45 off your first booking!
We are so used to booking these now we almost forgot it our money-saving travel hacks list.
BYOB AND PRE DRINK
We all love a good night out, but they can add up quickly. Don’t go to the bar sober! You wouldn’t do it at home, and you shouldn’t do it abroad. Buy whatever is local, local wine, local cider, whatever is cheapest and get your drink on before you head out.
MAKE THE MOST OF FREE ACTIVITIES
You know you love a good freebie! There are plenty of free activities and experiences available all around the world. Do a little research and you can find some really cool free events! Check out Free Experiences Currumbin to Cairns if you are doing the East Coast of Australia.
If you have a student ID use it to your advantage. Student pricing may only seem to have you a few dollars here and a couple of dollars there but when you add it all up it saves you a lot! Don’t leave your ID at home because it’s ‘not flattering’, bring it and use that discount ticket with pride!
This is one of my favourite money-saving travel hacks because after all the money thrown at education it really feels good to get some discounts and rewards.
Groupon, Grab One, or whatever offer you group rate discounts on meals, activities, even beauty treatments. Don’t ever pay full-price, that’s just not budget-friendly. You can even find full-blown all-inclusive stays for less than a night in a hotel, use the site.
TRAVEL WITH JUST A CARRYON
We can’t relate to this one but have friends who do it. If your backpack is 40L or less you can bring it on board a plane with you as a carryon. It will save you paying for baggage which ranges from $25 – $200! Unfortunately, some of us (ahem, Sunny) can’t do it and we have yet to have the luxury of saving that cash.
ALWAYS BE FLEXIBLE
We really can’t stress this one enough, being flexible will always save you money. Flights can be hundreds of dollars cheaper the next day or week. Use our guide to breaking up long haul flights where we teach you how to get more flights (and countries) for less.
There are so many ways to save money on travel. Doing some research in advance can save you hundreds of dollars, and always using the resources available to you can be the difference between a comfortable trip and breaking the bank.
What are your best money-saving travel hacks? Let us know in the comments below.
Check out more tips & tricks HERE.