Holiday On A Budget: Here’s How To Make It Possible!

Going abroad is the ultimate treat. After all, you work hard day in and day out, so why not pamper yourself every now and then? Unfortunately, a well deserved holiday will often result in frivolous spending, even if you’re usually a frugal person. Many people are choosing a staycation in favour of a trip abroad, both of which can end up being a costly adventure.

A beer here and a wine there sounds like a relaxing way to spend an afternoon, but it comes with a price tag! There are responsible ways to reel in your spending, and no, it doesn’t mean spending the night in a rundown room to save a few extra bucks! There are some fabulous hotels in Edinburgh at affordable prices.

Know Your Exchange Rates!

As you’ll travel to a foreign country, you will need to account for the currency in your pocket. Many travelers make the mistake of waiting until they actually arrive to worry about exchanging currency at the airport. This means paying higher exchange rates, especially if you eschew using the Internet to complete the exchange.

Take The Right Card With You

One of the biggest spending mistakes is not understanding how your credit or debit card works in a foreign country. In most instances, debit cards will incur a fee every time they are used to carry out a transaction or to make a withdrawal. Meanwhile, credit cards may charge as much as 3 percent for every withdrawal. The best option for traveling on a budget is a prepaid travel card. It operates like a credit card, only you have to load it with cash in order to use it for spending.

Make sure you really do your homework when planning to take your card abroad. When you opened your credit card account, the low interest rates may have seemed appealing, but you’ll end up paying later in the form of withdrawal fees.

Set A Daily Spending Cap

To ensure you have a solid grip on your spending, make sure to create a daily spending budget. It’s also important to stick to this budget because it will help you responsibly pay for the entirety of your trip. For example, having an established budget helps you make wise choices when you’re potentially reaching for another bottle of wine or booking that massage. Spreadsheets are a great way to keep track of your spending, and no, you don’t need to be an accountant to pull it off.

Make it a point to go to an ATM and withdraw your allotted budget daily. This prevents you from spending money that you don’t have access to.

Switch Off Data Roaming

When you’re abroad, be careful how you use your phone. If you forget to turn off data roaming, you’ll incur some hefty fines when apps automatically update or you forget that you aren’t supposed to check Facebook. So, turn off your phone and just relax.

Eat Local Foods

Most people travel abroad to experience local cuisine, which is why you should aim to do so as well. Stay away from tourist frequented diners and eateries. This will give you access to specialty cooked meals and will also protect you against skyrocketing prices. Plus, many restaurants that aren’t tourist pleasers will end up having a more welcoming and traditional environment. This is especially true if you want to immerse yourself in the culture.

Use Local Currency

When choosing to swipe your credit card, make sure you choose to pay in local currency. Dynamic currency is made available to anyone who wants it, but when the funds are converted back to your home currency, you will pay a higher fee. So, whenever someone asks you if you would like to pay with your own currency, don’t do it because they will inflate exchange rates beyond your wildest dreams.

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