Saving for Overseas

 

 

 

Financing an overseas holiday can be a little daunting; from airfares, to accommodation, food, and all the little things in between, there are lots of things you need to save cash for. Making sure you have enough to cover it all can be tricky, let alone saving up the amount required. But here are a few small tips to help you on your way to paying for that dream holiday.

Download a budget app for your phone. The benefits of this are two-fold, it’ll help you start saving for your trip and assist you in making sure you keep track of your spending while overseas. There are plenty of free apps out there, so download a few and see which style works for you. Get something simple and easy to use. You don’t need a lot of fancy settings, just something that lets you see where your money is going.

Do some research into the costs involved for your trip. You need to know how much your holiday is going to be, approximately, before you start saving. Make sure you look around at different airlines and make the decision about where you’re going to stay. Hotels are the most expensive, hostels the least, with apartment renting falling somewhere in between. If you’re travelling by yourself, with a limited budget, hostels are the best way to go, but if you’re going in a group splitting the cost of an apartment can be cheaper. When calculating your estimates, make sure you keep in mind transport during your holiday, food, shopping, and entertainment (and if you’re a big shopper make sure you leave enough room in your suitcase to bring it all home).

Stick to a budget. This is where the budget app you downloaded starts to come in handy. Have a look at what you spend your money on weekly; do you think you spend too much on eating out? Or are you a shopaholic? Do you spend every weekend out at events? If you cut back on these things now you’ll be able to enjoy them on your holiday.

Be cautious with your cash. There are a few other things you can do to bring the cost of your trip down, such as cooking your own meals, walking instead of using public transport, and finding free events to go to while you’re away. Make meals for yourself so that you can keep your daily spending down. If you stay at a hostel investigate whether they offer free activities, such as walking tours or group meals. These are also a great way to meet other travellers!

Look into City Passes. Most big cities will have these passes available. Generally, they cover admittance to galleries, museums, and other attractions, as well as covering public transport, for a pre-determined time period and a pre-determined price. For instance, in Innsbruck a two-day City Pass covers one trip up and down in the ski-lifts, unlimited admittance to most attractions and events, and unlimited public transport use for the duration of the pass. It only cost 80 Euros, when the combined cost of everything would be 100+ Euros.

Always consider exchange rates. It can be a nasty shock to find that whatever you bought actually cost you 20% more in your own currency.