Finances & Money

6 Tips for Traveling Abroad That Will Save You Money

traveling abroad

Travelling abroad can be fun and adventurous, depending on your plan for it, but what it can give you is memory, bad and good. However, it is also one of the most expensive luxuries, which only few people can afford.

Nonetheless, you can start by making it affordable by knowing some of the best currency conversion rates around the world. This way you can plan for an affordable trip that will not put a dent on your finances.You can research by keywords like best currency exchange Winnipeg if you are planning a trip to Canada or something related for a better chance of getting some of the best rates with low fees as well as a chance to save on your travel expenses.

So are you planning on abroad trip sometime this year?Here are some tips you can use to save money on your trip.

 

  • Get a credit card with no foreign transaction fee

 

Before you travel, you should consider getting a credit card meant just for international travels. However, you should not get just a card, but one without foreign transaction fees. Likewise, do not open an account if you know you will keep a high balance on the card.

As much as you will pay annual fees for the card, it is still a good investment for abroad trips. This is because your annual fees depend on how much you spend oversees, which is often less than the foreign transaction fees.

 

  • Know your means of payment before you travel

 

Before you leave your country, know how you are going to make payments in the other country. You will also need to alert your Credit Card Company and bank to prevent any account freezing and fraud alerts to your account.

Likewise, you are likely to learn about any fees you might be charged on the cards, for using them in a foreign country, and make a plan for it. If the fees are high, you can consider opening another account with a bank that waivers international transaction fees.

Also, avoid cash advances on your credit card, as you will be hithard with high transaction fees and interests.

 

  • Travel off-season

 

Every tourist location has an off-season and peak-season. Therefore, it would be better to be familiar with these seasons, especially if you want to travel cheap from your country to your destination.

Do your research and see the best time to travel, it can be a month before or after the tourist season starts. In many places, way off-season is usually monsoon or very hot and not recommendable for travel, but it can still be fun, depending on your travel plans.

 

  • Pack appropriately

 

You should pack well, in accordance to the climate of your destination. This way you avoid buying things on the road, which can be expensive in some countries, cities and mostly islands.

So do some research on your travel location and see some of the things you are better off buying at home, and which ones are likely to be cheaper abroad.

 

  • Shop for the best exchange rates

 

Even though there are many currency exchange kiosks at the airport, you should always avoid them, as they tend to have poor exchange rates and higher service fees. You should also stay away from no fee currency conversion kiosks located near tourist attractions.

Consequently, you are always better off withdrawing your money at the ATM, which you can find anywhere, even at the airport than using currency exchange kiosks. However, since most ATMs have withdrawal fees, which can be high or low depending on your bank. You are better off making a huge withdrawal once to avoid unnecessary expenses.

Take note that currency exchange businesses often have unfavorable rates and at times will charge you an extra service fee.

 

  • Make a budget and stick to it  

 

You will need to make a realistic budget and try to stick to it, to avoid overspending. Know what you want to do and research on its costs be it skydiving, fishing, or just shopping around. Otherwise, you will find yourself spending money anyhow, which will eventually run out. This can leave you broke and you will end up cutting back on spending, even on some important things.

Conclusion

Travelling can be stressful if you do not plan for it well, so take the time and do your research then make a travel plan. You are likely to return to your home country less stressed and happy about your encounters.

About the author

Susan Paige

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