Saving Money While Traveling

Traveling can be expensive and often is a luxury for most people. For some it might even getting into debt. What if there where ways to take those lavish trips and save money at the same time? It would mean travel for more people, and it would mean financial freedom. If you are someone who wants to travel and want to be smart about it, there are definitely tools, knowledge and resources out there that can help you achieve just that.

A Few Different Ways to Get Extra Funds before Traveling

For those thinking about traveling, there are a few different ways to get funding, and make a trip extra special;

  • Taking out a Loan- There are many loan options available. For example, a car title loan makes it really easy and quick to get funding for a trip. For those traveling from California, car title loans are readily available for residents.
  • Credit Cards- A credit card may be a great way to fund travel expense before and while on a trip. Finding one with a good amount of available credit, low interest, and international use, is key for travelers.
  • Travel Grants-These are grants that are given out by the government, for a variety of situations from volunteer work to funding education.

A Different Perspective on the Tourism Industry, to Save Money While Traveling

This is such a powerful piece of knowledge for travelers to have. The first thing to understand is that the industry is first and foremost a business. The tourism industry is made up of transportation services (flights, cars etc.), hotels/housing accommodations, food and beverage establishments and entertainment services.

Like many businesses, one of the tourism industry’s main goals is to make the most profit possible. Thus, it is important to keep in mind that every traditional traveler is a customer- and every traditional travel experience is curated to get the most business from that traveler. This is one reason why tourism is usually packaged and why these different services/companies often work together.

To save the most the most money while traveling it is important to think of the things you participate in – in a perspective that the industry takes- in financial terms. Think about the different financial components of what make up the ‘machine’ of the tourism industry. By cutting costs in these components a person has the potential to save a lot of money. For each part, practice what is known as benchmarking– comparing the cost, the service, the activities, and the standards- against the best in that business.

When Trying to Save Money While Traveling, Timing is everything

Timing is a huge factor in determining the amount of expenses for a trip. The tourism industry has what is called ‘seasons’ and there are two types:

  • High Season- The time of year where tourism is at its peak for a region. The prices for everything travel related, usually, increase during this season.
  • Low Season- The time of year where tourism is at its lowest for a region. The prices for everything travel related, usually, decrease during this season.

So the best time to travel to a destination would be during a low season. Keep in mind that this is not a concrete/for sure, variable. For example a certain event happening during a low season could still mean increase in prices- or vice versa.  Remember that every component of the travel industry goes though different hourly, weekly, monthly, and annual trend cycles that can have a huge impact on the cost of a trip. So before finalizing anything, it is important to do research on the destination and be knowledgeable about travel trends.

Finding the Best Deals to Save Money While Traveling

There are tons of discounts and deals that a traveler may have access to before and during their trip. Here a few things to pay attention to, before and while traveling- everything from the airline, to the place that you are staying:

  • A No-frills Travel Package- A low costing travel package with the extras cut out. This offers travelers to pick and choose cheaper options for the things not included in the package.
  • A Private Rental Instead of a Hotel- More times than not finding a private housing accommodation to rent is much cheaper than the renting a hotel. This practice has gotten much safer and has become more widely used.
  • A Familiarized Tour- A reduced rate, or sometimes free tour for people who are travel agents, or do work in any capacity for the travel industry-definitely worth looking into.
  • Volunteering or Working Abroad-There are many non- profits out there that let people travel and take care of their basic necessities in exchange for some type humanitarian work. For those who want income working abroad is another option where travel costs can be free or lowered (as companies may pay for your travel expenses)
  • Check out Restaurant Deals if staying in a Hotel-Sometimes, hotels offer discounts for the restaurant in the area.
  • Search for Free Travel Destinations-There are tons of free things to do in almost every city or town. To save some money allocate some travel time to exploring these free travel destinations.
  • Use Public Transportation-Often times this is much cheaper than renting a car or using a taxi.
  • Use a Credit Card that is Compatible for International Travel-It is often best to use a credit card when traveling- as it offers more security if lost or stolen. In addition to this some credit cards offer reimbursement for ATM’s while traveling, have no penalties for international use, and my even offer extra travel rewards.
  • Use an Airline’s Ground Package-The lowest rate for air fare while flying- for those on a tight budget this may be the best way to fly.

Traveling can be expensive and can cause a person to mindlessly incur debt. For those trying to save money and still enjoy seeing the world, there are tangible ways that those two elements can co-exist. To have both, it is important that a traveler understands more about tourism; the different parts, the way it functions, and the different arrangements that exist in it and that make up this international, trillion dollar industry.

photo credit: Jocelyn777 Crooked Bridge, Mostar via photopin (license)

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