If you’ve ever been travelling then you’ll know how the costs can easily start to pile up. The average cost of a gap year is between £5,000 and £7,000. Saving up for a trip is only half the battle, you also have to consider how you plan to budget your expenses while you’re away. Things like day trips and dream excursions can end up being quite expensive and you don’t want to have to compromise between one great experience and another. That’s why it’s important to know where you can cut corners and save a little bit of cash where you can.
Learn to haggle
Haggling over a price isn’t something that comes naturally to most people, particularly in Britain, but it is a custom elsewhere and something you should lean if you want to save some money on those treasured holiday souvenirs. Haggling always works the same way, the shop keeper will give you an inflated price, and you’ll continue to under estimate the item’s price until you meet somewhere in the middle. The only rule you should play by here is that haggling should be done with some good grace. The shop keeper may be charging you more than the locals, but to him you are a wealthy tourist with money to spend. Be assertive, but also be polite.
How to handle your money
Wherever you’re going you’ll need some local currency. If you’re travelling somewhere a little off the beaten track then make sure to order your money in plenty of time. Many developing countries are also happy to accept US dollars, so it can always be worth picking some up as well. Currency exchange rates can always differ depending on who you buy from so shop around to save yourself some money. If you plan on using your credit or debit cards while you’re away, be sure to tell your bank. It’s rare, but banks have been known to put a block on customers’ cards when they are used abroad excessively. This is because using your card in another country can look suspicious as though it may have been stolen, especially if it gets used a lot!
Book it yourself
Travel agents do a great job of organising trips for us, but at the end of the day they’re there to make money and will take a cut. If you’re a particularly organised person you may find it just as easy to book your holiday yourself online. There are savings to be made, particularly on big ticket items including flights. Skyscanner is a flight booking site that can help you find the best value fair to your destination. Booking accommodation has also been made easier by sites like AirBnB, meaning that you no longer have to choose between an overpriced hotel or a cheap and nasty hostel.
When you get there
There are a few fail safe ways to keep track of your spending while you’re away. One of the simplest is to just keep track of everything you spend in a notepad. Making a note of all your money minus your purchases each day is a simple but effective way to make sure you don’t spend too much. You can also set yourself a budget for each day or each week that you’re away. But make sure you set aside some extra money for those big holiday experiences like bungee jumping. Keeping a fund for emergencies is also worthwhile, or you could just phone home for some extra cash when things get tight!
