Budgeting on Holiday: 5 Tips to Limit the Spending

It’s safe to say travelling isn’t exactly the most affordable hobby out there. However, there are plenty of ways to cut the costs and prevent yourself from going overboard in terms of spending; save your wallet and employ the five following tips to ensure your trip isn’t so extortionate.

Be sure to Haggle to Limit your spending while traveling

One of the most common and useful skills travelers are required to master on their trip is the art of haggling. Too often do local opportunists try and take advantage of you being a tourist, hiking the prices up in marketplaces, taxis and even money exchanges to try and get more out of you. Don’t let it happen.

When haggling, approach with a kind and calm demeanor to begin your negotiations. Vendors often expect a spot of haggling, especially when dealing with a seasoned traveler who knows what to expect – be successful in your venture, and you could be saving up to half of the original asking price offered to you.

Have a Daily Budget to Limit your spending while traveling

To really save money, a daily budget is your best bet. It’s an easy and effective way to accumulate some savings during your travels, as you’re thoroughly planning your expenditure and therefore enabling yourself to see just how much you can afford to spend on each factor of your trip.

Consider the necessities you simply have to spend money on, from accommodation to transport (and food, of course). Make sure you leave a sufficient amount for the activities and leisure, as you’ll likely need to spend some money here – and don’t forget about the possibility of those unexpected fees arising.

Fly During the Night to Limit your spending while traveling

Instead of choosing a peak time flight, despite how convenient it may be in the grand scheme of things, sacrifice a good night’s sleep and travel through the night or the early morning. Why? 

Because of how much you’ll save as a result. Prices are dramatically less when you opt for a flight during unsociable hours, as there’s more of a demand for more convenient times. If you’re looking to save a substantial amount, this is arguably the best way to do it. Although it may not be exactly convenient, it’s one of the most effective ways to budget yourself.

Stay in Hostels to Limit your spending while traveling

You might want to forget about the luxury five-star hotels on offer if you’re trying to save money. Simply put, there’s no way to live the high life in terms of accommodation when you’re on a budget, so you’re going to have to consider the available alternatives – and hostels may just be your best bet.

Although you may have some preconceptions about what hostels are like, it’s time to banish them. Time has seen many advancements in terms of the comfort and cleanliness of most hostels around the world – and you may just meet a new travel partner or two during your stay.

Choose Street Food to Limit your spending while traveling

Instead of splashing the cash on extravagant sit-down meals everywhere you go, be sure to try the street food. It’s commonplace in the majority of travel hotspots around the world, from big cities such as New York City and London to countries such as India and Thailand – all for much less than you might pay in your typical restaurant.

And street food sometimes poses a challenge or a story you can relay to your friends or family once you’re home. Take Cambodia, for example, where you can actually gorge on a fried tarantula. Delicious!

Don't forget to share your tips on how you budget on a holiday. 

Shoestring Travel

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