Tired of your Instagram feed being inundated by happy snaps from your friends who are out there enjoying the European summer?
If you, like us, can barely scrape a few coins together for your morning coffee but are keen to get out there and see the world, the kind folk over at ING have put together some ripper tips on how to save money while you travel so your next trip doesn’t break the bank.
Travel like the locals do and catch public transport
This one seems like a bit of a no-brainer but can be pretty difficult when you’ve spent the day exploring and you just want to get back to your accommodation and have a lay down.
Step away from the Uber app and think of the killer experiences you could be taking advantage of with those extra dollars!
Not only can it be a quicker and a more sustainable option, but using public transport will also give you a taste of local life in a city whilst saving you money!
Plus, no one wants to spend their holiday stuck in the back of a taxi in traffic.
Most cities now have public transport cards that enable you to load your card up at the start of your holiday without having to worry about purchasing paper tickets throughout the trip, saving you time and providing convenience.
Approx. savings: $100
Wise up about international bank fees
It can be very confusing working out how to best manage your money overseas. Are travel cards the best option? Will your debit card work in the countries your visiting? And lets not even get started on currency conversions.
On average, ING found that Aussies spend the equivalent of $155 per person on international transaction fees on an overseas trip.
Plan ahead and choose a card that has no international transaction or ATM fees, and spend the $155 you would save on fees to eat your way through Italy!
Approx. Savings: $155
Rent out your home while you’re away
Many Aussies are turning to the sharing economy to earn some extra money while holidaying by renting out their home or spare bedroom.
Taking advantage of your empty home or bedroom while you’re away is an easy way to earn a couple of hundred dollars without much heavy lifting.
Airbnb allows you to review and approve guests on your terms with the extra cash a great way to cover your rent or mortgage while you’re away.
Approx. savings: $200
Take advantage of free entertainment
Do your research and find free events and entertainment options in the area you are visiting.
Most museums and tourist attractions host free or cheap entry days. For example, the Louvre has free entry on the first Sunday of every month.
Another money-saving alternative is walking tours.
Most information or visitor centers run walking tours that allow you to visit the key tourist sights.
These tours are a fantastic way to learn about the history and culture of a city while exploring and wandering the streets in small groups, and they often only expect a small tip rather than a full fee.
Approx. savings: $50
Bring your best bartering game
In some countries, bartering is common practice.
If you save just $5 each day by bartering, you could potentially save $150 across your month-long getaway.
The secret to bartering is to play the game and know when to walk away – often the vendor will come after you and take you up on your offer!
Approx. savings: $150
Put your subscriptions on hold
Whether it’s your gym membership or entertainment subscriptions, by simply putting your subscriptions on hold while you’re travelling, you could put approximately $79 back into your splurge/ travel fund.
Save Netflix for to fight off the jet-lag and post-trip blues when you’re back home.
Approx. savings: $79
Approximate total savings: $734