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Essential Tips on How to Save Money While Travelling Abroad

Updated on May 8, 2014

Do Your Home Work before You Travel

No matter where you are going to enjoy a pleasure trip or attend a business trip, you can always save money if you do proper home work before you go. In fact, a good amount of money is needed during any kind of travel in a foreign country. If you do not plan well before you go you might not only spend a huge amount of money but also end up even spending a fortune. So, it is essential to do your home work properly.

Try to get as much information as possible about your destination country from reliable sources. Is the country you are travelling to have a good transportation system? What is the average rent per month in a city or town in the country? What is the weather and climate like? Does local culture allow or prohibit the consumption of certain food? How liberal banking and financial systems and institutions are? There are many more questions you should ask yourself and get definitive answers in order to organise your plans and trips effectively.

Know the Exchange Rates

You can save a lot of money by not getting caught out with exchange rates. Exchange rates may vary considerably from country to country. If you are going to buy some local currency before you go, do not purchase the currency at the airport. Shop around to find out where you can get the better exchange rates. Once you are in your destination, check out the rates with different money exchange traders to get the best deals.

Save Money for Future Use

Source

Do not Use Your Bank Account Abroad if It Stings You

Many people use their bank accounts abroad during a holiday or business trip. Many banks stings their customers with high fees every time the customers withdraw cash or make a transaction abroad. If your bank does not charge much fees, you might consider using your bank card abroad, but make sure you ask your bank in your home country about this matter to make an informed decision.

Use the Best Credit Cards to Come up with Extra Savings

Credit cards are convenient and very handy to use when travelling outside your country. There are many credit cards that are specifically designed for travellers. If you have a travel rewards credit card, then it can save you some extra savings on airfare, hotels, and general travel. Ask your existing credit card provider that if you could get any rewards or discounts while using their credit card abroad. You might also consider getting a new travel credit card that will provide you with some genuine benefits.

These days there are travel rewards credit cards, international travel credit cards, travel site credit card, airline credit card, hotel credit card, and more. But, you might not need one or all of them unless you are travelling extensively all year round. Keep at least two good credit cards with you during your trip abroad.

Find Cheap Flight Tickets by Booking in Advance

If you book your flight well in advance you might get cheap flight tickets. If you book your flight in advance then you will have enough time to find cheap deals online. From personal experience, I have saved a lot of money by booking far in advance. The difference between prices for flight tickets booked far in advance and bought three months before is quite significant. There are reliable travel agencies across the web that offer various deals from time to time.

Look for the Best Travel Insurance Deals

You should buy enough travel insurance before you go abroad. You may be automatically covered for specific concerns by your credit card travel insurance policy or/and any other provider ( It can be a superstore, a travel company, an airline, and more). But, you need to buy adequate insurance for the peace of your mind and to avoid any financial disaster should anything go wrong.

Choose a reliable and reputable insurance company that offers the best rates, and the best deal which works best for you.

Try the Local Cuisine

One of the best ways to explore the culture of a particular community or country is to try their local food. You will also be able to eat tastier and fresher food. If you order local food it will cost you a lot less than if you order non-local food. You will also save money if you eat street food, but street food in certain countries may not be safe.

And the Final Words

There are numerous ways to save money during your stay in a foreign country. The above-mentioned tips are some of them to save some money that you could use to extend your stay or use as and when required. Remember, a penny saved is a penny earned and every little really does help.

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