There is always a budget when travelling, and we aren’t about to tell you to ignore it. But holidays don’t come as often as they should, so you want to make the most of the opportunity when they do come along. You may never visit these locations again; it is terrible to miss out on some part of the trip, some part you couldn’t do anywhere else, because you needed the money for some other expense, or because you couldn’t afford a longer stay. It is always far more satisfying to come home feeling you got as much out of the trip as you could. There are some ways to make the most out of your financial situation.
When travelling overseas find a good way to access your money. Many ATMs may let you withdraw money from your account, but charge you a fee every time. At $5.oo per transaction a month away may yield $100 in withdrawal fees! Citibank has some good account options for travellers, and I’ve seen their ATM’s in several overseas destinations.
Avoid money changers that will charge you a fee every time. If you do use them, changing a larger amount of money and paying the fee once is better than several smaller amounts and paying the fee each time. If you are travelling with other consider a group transaction and splitting the fee.
Find ways to pay for services via EFTPOS. Credit cards accumulate fees and interest quickly, though some do have an interest free period. Find debit methods that won’t accumulate extra costs.
Seriously consider cheaper accommodation. If you are sightseeing you will only be at the hotel to sleep and eat a few meals. On the other hand the accommodation sometime is the whole point of going. If the hotel does provide entertainment, or subsidised excursions and other privileges, then use them. Ask what services are available in advance. If you just want somewhere to stay the night, consider Youth Hostels. But remember, security in other cheap accommodation is sometimes an issue.
Can you rent out you home while you are away? A definite possibility for income, though better for longer term travel.
Pay for things in advance if you know you are going to use them, there may be a discount. But avoid a situation where you pay for something that ends up redundant.
Use a shuttle service for transport. Don’t waste half a day at each end of your trip getting through public transport in a foreign city. Public transport still costs money, and the time saved by using a shuttle pays for itself.
Decide what internet access you need when travelling. You might want Google maps and email home. Find the minimum way of achieving this while away. Consider hiring a mobile (with net access) when overseas; some airports offer this service.
Travel light. Aircraft charge by weight; if you exceed the limit the prices jump considerably. If you are caught here remember that small, heavy items can be carried on your person when boarding the plane. You can lighten the luggage load this way. Hand luggage is not subject to the same weight restriction as checked in luggage, so you can put some weight here as well.
Some foreign countries have cheap postal rates to Australia. Instead of accumulating small souvenirs in your luggage consider posting them home. It is cheaper than excess baggage charges on the plane. Look as postage rates on eBay as a rough guide for each country.