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Key factors for saving money for your long-term travel

By Ankita

Normally it is seen that traveling and savings are taken as two poles apart. Everyone wonders how one can save while traveling since travel includes a lot of expenses and saving is not possible. This is the reason most people avoid traveling as it takes away all their savings. But this is a myth now.

Now savings while traveling is possible and people have done it wonderfully. They have also shared their ways of savings. So, to make your travel dream possible in a most reasonable way, we have come up with some of the tips or key factors that you will need while saving for you travel.

 

Savings for traveling is possible in three different ways:

  • Savings before travel

  • Savings at the time of travel plan

  • Savings while traveling



Savings before travel

Savings before travel starts much before you do your travel such 1 or 2 years before travel time. This will help you in saving some money till the travel time. Here are a few factors that will you in saving:

 

  • The first thing which you will have to take into consideration is your general expenses. Spend only on that thing which is actually required. In other words, spend wisely so that by reducing extra expenses you can save money.

  • If you love dining out frequently, then you will have to reduce it to minimal r stop it completely. Cook your food at home as it will be healthy and cheaper. This will save extra money on dining out and also on health as eating outside daily can impact your health.

  • You might like drinking some premium hard drinks along with smoking. Stop this luxury habit of yours as it takes a lot of money. You can save all this money on your travel.

  • Another way of saving money is to stop gymming. No, we are not saying that you don’t take care of your health, instead, find other ways of keeping yourself healthy like jogging or walking.

  • If you use a credit card then only use the one which gives you maximum benefits on your travel expenses such as Axis Bank Miles & More Credit card.

  • Another factor is to diversify your income. Find the ways of increasing your income such as doing the second job or working on weekends or doing some freelancing with your regular job.

  • Make sharing a habit. If you live in a rented accommodation, then you can share it someone else so that all expenses can be shared and you can save half of your money.

 

Savings while making a Travel Plan

 

  • The first step of savings will be a good travel plan. Make a plan for the off-season time rather going in a tourists season in which everything will be much more time costly.

  • The next thing is to travel slow and take time in exploring that place. If you will try to explore too many places then you will shake your travel budget and spend more than desired. Try to stay in one place as much as possible and explore that place for cheap or free.

  • Your spendings should be done wisely instead of being lavish. Make a travel budget and spend as per your budget. In this way, you will spend only when necessary.

  • The next thing that pays an import part in your savings is your chosen destination. Always choose a place which is cheap in all aspects whether reaching there, staying or exploring.

  • Try to go in a group with your friends, but not very big. This will save your money as every expense will be equally shared among all.

  • When you are going out, your home will earn for you. Rent out your place till the time you are on your leisure trip. The rent that will come will help you in your travel.

  • The best things come to booking air tickets. Don’t book tickets near your travel time as it will cost you many times as compared to the base fare. Try to book tickets 2 03 rather 6 months before your travel. If you have a credit card that gives you some benefits on ticket booking then always use that card.

  • Also, make arrangements for getting a pre-approved personal loan that will be your emergency cash.

  • To avoid any unwanted situation, do take travel and medical insurance.

  • Packing all necessary thing is important but overloading yourself is not right. If you are going to the place where shopping is cheaper then you can buy some stuff from there otherwise shopping overseas is very costly.



Saving money while traveling

 

  • Savings while traveling is also possible. This will start with choosing your stay which is should be either free or cheapest as possible. Don’t go for any costly hotel for your stay as it will harm your budget badly. You choose to stay at homestays, hostels or take a house on rent of a person who is also on a leisure trip like you.

  • The next thing that you have to take care of your accommodation is the availability of public transport. Avoid using cabs as they will also be costly. You choose to walk for exploring our place of stay.

  • Never forget your travel budget and your spendings should be according to that only. Making expenses according to the budget will help in avoiding any unnecessary expenses. Also, keep track of your expenses.

  • Live like a local and cook your food yourself. If you will keep on dining out on every meal, you will be out of finances very soon.

  • Utilise your time by doing some freelancing work. This will help you n stay connected with your work and you can earn while traveling. You can spend this money on enjoying your travel.

  • Choose your credit card wises. Use that card which has minimum international transaction fees such as Standard Chartered Ultimate Credit card that has international transaction fees of only 2%.

 

So, enjoy travel to the fullest by considering the above-mentioned important factors.

 

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saving, saving,longterm travel, longterm travel,personal loan, personal loan,

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