Financial Strategies for World Travellers: Investing, Budgeting and Managing Money in Travel

Discover the benefits of traveling during low season, beat the crowds, and enjoy a peaceful and cost-effective trip.



Author: Alphonse D. Dufresne - Penning Tales, Setting Sails…

2023 is turning out to be a promising year for traveling, with the first quarter of the year alone seeing more than double the number of international tourists than the same first three months in the previous year. Although the precise numbers for the summer months have yet to be released, we can speculate that they are going to be impressive.

With such a boom in tourism, and in an effort to mitigate some of the losses from the pandemic period, all sectors of the tourism industry have increased their prices significantly. But, does that mean that traveling is impossible for the more frugal amongst us? Definitely not. With careful planning, good research, and just a little bit of luck, even the most abstemious can have a great trip. In the following article, we plan to go over our top picks for financial strategies you can implement to guarantee a quality trip, regardless of your budget. We will discuss the methods that we’ve found to be the most useful when it comes to budgeting, whether this is to save a few dineros for an extra pina colada, or finding the cheapest flight tickets. Happy Travels!

Book in Advance

Perhaps the best trick to incorporate into your travel plan is booking every bookable element of your trip well in advance. We do realize that sometimes that isn’t possible, as either you won’t have planned your trip that far in advance, or due to last-minute changes, you’re worried about being charged for cancellations. Aside from travel insurance, which we will discuss below, another recommendation we could make is finding travel companies that offer last minute changes.

For example, if you book an airport transfer to get you back to your accommodation, providers such as AtoB airport transfer offers changes up to 24 hours before the ride. This means that if you book your airport taxi well in advance, you won’t have to worry about not being able to make alterations, as this can be done fully through their online portal in just a few clicks. Another luxury that AtoB airport taxi service offers is the addition of extras, such as child seats, which can also be included last-minute.

Travel During Low Season

This may seem like a no-brainer, but countless tourists make the mistake and travel during peak summer, only to get frustrated by the enormous crowds, both in the airport, and at their resort. We aren’t necessarily recommending to travel in October (although this too is of course possible), rather travel at the beginning or end of the summer season, thus in either May or September. At this time there won’t be many families, due to school and work, meaning that wherever you visit will be significantly quieter.

The months of May and September are just an estimate, and we recommend you research your destination carefully to find out which months are at the start and end of their peak season.

Travel Insurance

As we said above, travel insurance is great for canceling flights without losing money. Things happen and holidays sometimes need to be postponed, or canceled. By purchasing travel insurance, you can get refunded in the event of a cancellation. Look at insurance as an investment of sorts, as it safeguards your money in the event that anything goes wrong.

Not only is it great for cancellations, but it’s also godsend if you lose baggage or even get ill or injured during your trip.

Make sure to carefully select an appropriate travel insurance package for you and your loved ones; carefully reading the fine print on their terms & conditions, as there can sometimes be peculiar stipulations.

Accommodation

This once again ties into high-season, but we all know that hotels can be incredibly pricey. Even subpar hotels can charge excessive prices during the peak summer months. Aside from recommending to book early once more, we also believe that looking into other forms of accommodation, such as apartments, houses, or hostels, can be cost-effective.

Apartments, houses and hostels cut prices significantly in comparison to hotels, due to not offering the same services that the latter do. Room service, maids, airport transfer and various other efficiencies are not usually included in the three options we’ve provided, but, when traveling on a budget, these luxuries are neither needed, nor sought after.

Travelling Light

You likely are not going to need multiple ‘options’, just in case. It is more than probable that you won’t need to pack a ball-gown, in the off-chance that there is a gala you need to attend. Jokes aside, overpacking is incredibly common, and can lead to paying excessive amounts to airline companies just to transport all that luggage. By being pragmatic, and only packing the necessary things for your trip, you can even end up just taking one small bag on board with you. Essentials, such as toiletries are of course needed, but that shimmering mist from L’oreal is probably not.

We recommend having: Two sets of clothes for the day (including shoes), one for the evening (also including shoes), swimwear (including sandals), chargers, toiletries, and that’s all!

Be on the Lookout for Discounts

It is certainly possible to still find great deals. Aside from booking in advance, which will save a few bucks, you should always be on the lookout for special deals, last minute prices, and discounts. There are a number of websites that can assist with this, but even just checking your favorite providers everyday can lead to discovering some great deals.

Eat (and Drink) Local

Why travel abroad if you’re going to just stick to eating and drinking what you do back home? It will be double the price, probably won’t taste as good, and will lead to you missing out on some local experiences. By sticking to local food, aside from a much better price, you are also trying something new. It adds so much to a holiday to step out of your comfort zone and taste some new, exotic flavors. It may not be for everyone, but it is perhaps the best tip we can provide, that not only saves you money, but also broadens your travel experience, and could even lead to having some great stories to tell your friends back home.

There we have it, our top picks for the best ways to budget yourself, invest and save a few bucks when travelling abroad in 2023. No need to fall for the hype and believe that traveling is out of the question this year; just help yourself out by sticking to these pointers and guarantee a great trip that won’t burn a hole in your pocket.

From booking airport transfer in advance, to investing in travel insurance, and finally tasting some local dishes and drinks, we believe that these are the main ways for you to maximize your fun, while reducing the overhead. Happy Travels!

Disclaimer:

This article, written by Alphonse D. Dufresne, is intended for informational purposes only and does not constitute professional financial or travel advice. The author, Penning Tales, Setting Sails, and any associated entities or individuals do not assume any liability for the accuracy, completeness, or suitability of the information provided. Readers are advised to conduct their own research and consult with relevant experts or travel professionals before making any financial or travel decisions.

This content was first published by KISS PR Brand Story. Read here >> Financial Strategies for World Travellers: Investing, Budgeting and Managing Money in Travel






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