Did you know that only 37 percent of people in the United States of America have a valid and unexpired passport? Many people work under the assumption that it is expensive or unaffordable to travel on a consistent basis. These same people believe that unless you’re already a millionaire, it is even less possible to start saving money while you’re abroad.
You can always sell things that you no longer need or look into becoming a digital nomad if you want to continue saving money as you traverse the globe. You’ll need to then choose between the best existing Savings accounts – but with good research, you can easily find the right one for you.
The good news is that you’ve come to the perfect place to learn all about 15 great ways that you can start your money-saving habits while seeing everything that the world has to offer. Keep reading this article to learn more today!
1. Buy Fewer Things
It sounds obvious, but one of the best ways that you can save money during your travels is by buying fewer things. If you’re planning on traveling long-term then odds are that you’re living out of a bag or two and you have limited space to work with. Everything that you purchase you’ll need to carry along with you wherever the road leads.
The things that you’re purchasing are also keeping you from using that money to see new places and experience new things. Viewing things through that lens will help you limit the amount of money that you’re spending on things that won’t last.
2. Visit During the Off-Season
Everything will be much more affordable when you’re traveling to different countries and places during their off-season. Accommodations and tours are much cheaper if you visit during the seasons that aren’t peak seasons. Food will also come with a premium price tag attached if you visit during the down parts of the season.
It’s possible that the weather won’t be as picturesque or perfect if you go during the down season, but it will still be enjoyable. Visiting during the off-season is also a wonderful way to avoid tourists and get the most authentic experience possible. If you plan on staying for a longer period of time then you can even get your accommodations at a pretty large discount.
Visiting places like the Caribbean during hurricane season is another great way to travel and enjoy a beautiful destination with fewer crowds and lower prices. The odds of getting caught up in a hurricane during your travels are much lower than you’d think.
Here’s a great video with tips about visiting offseason:
3. Fly On Mondays or Tuesdays
The dates that you book your flights for will also play a role in how much money you’re spending. Choosing to fly on non-peak travel days like Mondays and Tuesdays will get you cheaper flights and smaller crowds when you’re on the plane. It’s also a wise move to try to book the second flight of the day since it is always cheaper than the first.
4. Get a Travel-Friendly Bank Account
There are a number of banks that are great to work with if you want some travel benefits with your finances. Charles Schwab is a great place to open a bank account and get a debit card because you can take money out of an ATM anywhere in the world without the need to pay the ATM fee which is typical for international ATMs.
You should also look into getting credit cards that reward you for traveling and booking flights and accommodations through their portal. You can’t go wrong with the Chase Sapphire Reserve credit card or Capital One Venture X credit card. Both of these cards will give you points for hotels, flights, rental cars, and dining that you can use on future travels.
An added bonus is the option to get free food through the travel lounges that you’ll gain access to as a result of having these travel credit cards.
5. Rent Out Your Home
If you’ve purchased a home but want to travel for extended periods of time then it’s a great idea to consider renting out your home while you’re gone. This is a great option for homeowners that have paid off their homes since all of the money that you make from the rental can go toward funding your travels. Even if you have a mortgage, if you have a cute home in a fun location you can make a profit.
Another big thing to consider is where you’re traveling to. Certain parts of the world, such as Southeast Asia (like the Philippines), are so cheap that you can save money while you’re traveling. Add in the amazing food that you can find in places like Thailand that are budget-friendly and you’re looking at a great way to make money and see some amazing places.
6. Look Into a Home Away From Home
Hotels offer some great perks and amenities, but the costs associated with staying at hotels like the Hilton when you’re abroad will add up over a period of time. If you’re in a country during peak tourist season, then you’re looking at blowing through your travel budget pretty quickly by staying at hotels each night.
Consider looking for places to stay on Airbnb to find cheaper rates and some unique stays. You can also get rates with long-term stays through apps like Vrbo and Airbnb which will make it much easier to save money as you travel. If you build a relationship with the owner of the property and you love the area then you can always come back and stay there at a potentially cheaper rate.
7. Plan Activities Ahead of Time
Depending on where you plan on traveling it’s a great idea to plan and book your activities well in advance. Certain cultures like planning, so if you’re traveling in Europe then you should look at planning things in advance.
It’s a mistake to think that you can snag the best deals by booking at the last minute. You shouldn’t run into any issues booking online ahead of time if you find something that you want to do. If you’re a Bitcoin buff, for example, you’ll also need to look into which countries have their bitcoin ATMs and where they’re located. You can also eliminate the ATM transaction when you visit countries like El Salvador during your travels. However, if you have no idea about Bitcoin, you’d want to learn more about this, try this Bitcoin for beginners page with all that you need to know.
8. Don’t Rent a Car
Many places that you’ll travel in have public transportation options that make it unnecessary to rent a car. Renting a car adds up in the blink of an eye so it’s best to avoid doing this if you’re practicing money-saving strategies. A great strategy is to look into your transportation options before you arrive in the country of your choice.
Exploring your transportation options will help you prepare so that you can metaphorically hit the ground running once you land. If you do your research you will find plenty of safe and inexpensive ways to travel around the country and to other nations during your adventure.
9. Consider WiFi-To-Go
A big consideration, if you’re a digital nomad that wants to travel and continue making money, is where to get reliable and fast WiFi. These devices are also known as pocket WiFi and they’re available throughout Europe as well as in Japan. Add in all of the countries that are offering digital nomads and you should have no problem finding a place where you can live while saving money.
These WiFi-To-Go devices aren’t free, but you can get a reliable source of WiFi at a cheap rate. It’s a great deal if you’re looking for ways to continue making money or do freelance work as you travel.
10. Negotiate for a Room Upgrade
If you travel outside of peak tourist season then odds are that you’ll find more than a few hotels that have vacancies. If you need a place to stay then you’re better off visiting the hotel in person and negotiating to try to get a room upgrade or a better rate. Many countries outside of the United States are happy and willing to negotiate rather than having set rates.
You might find yourself getting the Presidential Suite at a basic room rate. You can also attempt to negotiate other perks into your hotel stay like a later checkout time.
11. Walk More
The best way to get used to a new city if you’re planning on staying a while is to get out and walk around the city. You can see all corners of a city by taking taxis or tuk-tuks but you’ll find yourself spending a small fortune. Look for walking tours in every destination you reach.
If you do end up needing to take transportation somewhere then your best bet is to choose public transportation like a bus to get where you need to go at a discounted rate. Walking will also keep you healthier so you can continue enjoying your nomadic lifestyle.
12. Check Out Local Markets
There are often two types of markets that you’ll find on your travels. The first type of market is the one that is tailored toward tourists and the second type of market is the authentic market that features many handmade goods from the area. It’s important that you can differentiate between the two as the tourist markets will upsell their goods that are often much lower in quality.
The markets that the locals go to are your best bet for the best fresh foods and handmade items. It’s also a great way to make local friends and find other fun things to do in the area.
13. Enjoy a Picnic
There aren’t many more frustrating things than paying a decent amount of money to eat at a restaurant that is less-than-stellar with food quality. You’re quite literally throwing your money away on food that you didn’t enjoy and wouldn’t want to eat again.
Instead of wasting money at an “okay” restaurant, try visiting the local market and putting together your own private picnic. The adventure really begins when you start finding a place with a beautiful setting or a stunning view to enjoy your romantic meal.
14. Eat Local
It’s easy to get caught up in the accolades that come with certain international restaurants when you’re traveling the world. The best approach is to get to know the locals and find out the restaurants where they enjoy eating. You won’t find many TripAdvisor reviews for these restaurants since they’re locally owned.
What you will find are some of the tastiest dishes that you’ve ever had. You’ll also get to enjoy the fact that you’re supporting local farmers and business owners by boosting the economy.
15. Consider Work Away
There are plenty of great opportunities to experience life elsewhere, and one of the coolest experiences is through a Work Away program. There are plenty of farms and cool projects that need people to help them out. You can find neat experiences and learn new skills by browsing the Work Away listings.
You could find yourself living on an 18th-Century wooden ship for free or you might work on a farm in the Australian Outback. It’s one of the least expensive ways to get to know a country or a city and its people on a much closer basis. It’s also a great way to learn a new language and make some unforgettable friends.
Use These Money Saving Strategies on Your Travels Today
It’s never a bad idea to look into different money-saving tactics that you can use to extend your travels, especially if you’re living a digital nomad lifestyle. Always get to know the locals and shop at the local markets and restaurants, and plan ahead if you’re traveling to Europe. There are also programs like Work Away and Digital Nomad visas that allow you to work and live abroad.
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