Find out how you can save money when traveling in the video below.
[rumble video_id=v59985 domain_id=u7nb2]
Traveling to other countries can bring about a much-needed break from one’s day-to-day routine. However, traveling also involves a lot of planning and in some cases can get pretty expensive.
Travel writer Sarah Li Cain did a lot of solo traveling in her early 20’s and was wise to the many travel hacks that are supposed to help save one money. And now that she’s older, she found five strategies that can indeed save money without having to cut corners like staying in dodgy hostels or eating at unsanitary street stalls.
1 – Maintain a high-interest savings account
A high-yield savings account will help you save up any money that you intend to spend on travel. After all, you’re not going to spend them all at once anyway so while you’re waiting for the expected travel departure, might as well let your money earn some high interest.
2 – Get credit cards that do not have foreign transaction fees
Some cards charge as much as 3% in foreign transaction fees, not including any currency exchange rate fees. And if you use your credit card a lot during overseas trips, your expenses can add up pretty quickly.
Sarah’s favorite card is Chase Sapphire Preferred since it doesn’t have any foreign transaction fees. That way, she only has to worry about the exchange rate.
3 – Get cards that offer travel insurance
Sarah recalled a time when one of her friends died just before she was about to leave for Southeast Asia. She canceled her trip but lost hundreds of dollars because she couldn’t recover the money she spent on flights and hotel bookings.
Hopefully, you won’t need the insurance but at least you can breathe easier if anything happens that would require you to use it.
4 – Take advantage of someone else’s hotel reservation
While discount sites such as Booking.com and Hotels.com can get you some good deals, there’s another way you can book on the cheap and we’re not talking about scamming other people.
A lot of hotel reservations are non-refundable but sometimes, people just can’t push through with their travel plans. In order to partially recoup their expenses, some of these people post their reservation on the website Roomer Travel at a steep discount.
Simply check the website and try searching for a reservation that fits your travel dates and budget. Roomer even helps you make sure the reservation really gets transferred to your name. According to Sarah, you could save hundreds of dollars this way.
5 – Public transportation can offer viable transport on the cheap
This bit of advice really depends on how adventurous you are and how comfy you want to be. But sometimes, going by bus or train can really pay off. Sarah said that one time she traveled by boat in Malaysia and one family ended up inviting her to stay a few days with them and it even became the highlight of her trip.
Rome2Rio or Google Maps can help you determine your options and get you an estimate of how much a trip might cost.