Let’s face it, travel can be expensive. Even when you decide to go on a budget trip, you will need money for transportation (unless you’re planning on hitchhiking, which is a cool and safe way in some parts of the world), for food and stay. As a solo traveller or even with a group of likeminded backpackers and/or budget travelling friends, you can minimize the expenses of travel.
However, when you travel with family and kids, like I often do, there isn’t much you can cut down on when stay and food are considered. With kids, you got to pick a place that is hygienic and safe. With family you need to ensure their comfort. So, in my experience, family travel and travelling with kids requires a better financial planning.
A question many of you ask me often is how do I manage my finances in order to travel so much? How do I save money for travel, especially when I travel with my daughter or family?
We all read about the basic ways to save money for travel – they are the time tested tricks like book a hostel instead of a luxury hotel, take a train or a bus if you can instead of buying an airplane ticket which is generally more expensive, and so on. But there are some pretty creative ways to save money to fulfill your travel dreams as well.
And in this post, I will share some of my creative tips and some of my tested tricks to save money for travel. Here we go:
- Open a saving account dedicated to travel. This might seem like too much to some, but if you have travel in your veins, you know that this is a good idea! Have a bank account dedicated to your travel plans. Hold yourself back from using this money for anything else. Keep putting in money whenever you can. Also, when you are on the trip, only use this account – this is a good way to keep a track of expenses. Just make sure that you opt for a zero balance account so that there is no hassle.
- Plan way, way ahead (if you can, of course). If your dream trip is a long and expensive one, I’d suggest you plan as soon as you can. I know a travel addict couple who planned for their two- month long trip to Spain well in advance to be able to take a Personal Loan that they used wisely and had a great trip. If this is something that appeals to you, I’d say go for it. More and more people are waking up to personal loans for unconventional things like travel, and if you plan it well, it could be great. Personal Loan EMI Calculator can be your buddy in determining if it’s the right things for you.
- Pack snacks. If you’re travelling in your own country, this is easily possible. For international travels, you will have to check custom rules for different countries etc. But, if you can do it – go do it, pack some snacks and save money. Food is one of the biggest expenses when travelling with family or kids. When you pack snacks, you save a lot of money. I do it often and it works to carry stuff that my kid likes.
- Use local transport. Car rentals or taxi services are often expensive, and I find it easy to use local transport when I travel. It gives you a chance to sight-see the destination and you also save up on money.
- While you are in transit, look into some free entertainment. If you are going for a long road trip, stock up on free audio books for the car. At the destination, explore the area for free local events and public entertainment organized free for public. For more free entertainment, download some podcasts on family-friendly topics like Harry Potter.
What did you think of these creative ways to save money for travel, let me know in the comments.