Updated: Aug 5, 2019
When you’re away from home it’s even more important to make your money go as far as possible. You don’t want to miss great opportunities while you’re away, especially over the Christmas break after a long and busy year, but then again.. you don’t want to face a mammoth credit card bill upon your return.
Here are a few ideas to help make your dollar go further while abroad.
Staying in touch
Obviously the cheapest ways include email and social media. Internet cafes are now located in the remotest parts of the world. (Although don’t forget those friends and family members who would love to receive an old-fashioned postcard delivered to their mailbox!)
Using “global roaming” on mobile phones is extremely expensive. Turn off global roaming before you leave Australia and buy local SIM cards to stay in touch by mobile phone. International Calling cards are another way to control how much you spend on phone calls.
Better still, sign up with Skype or other VOIP providers. Their communication packages are way cheaper than traditional phone services.
Banking from far away
ATMs are plentiful overseas but be wary of the transaction costs overseas banks charge for accessing your account... they can be very expensive. Use Internet banking to check your account and move money about, but always ensure the computer you use to access your accounts has a high level of security. Do not do this using free Wifi services.
Finding well-priced accommodation in major foreign cities is easy online by typing “travel deals” into your favourite search engine. If you use the discounted travel websites be aware that the accommodation owner receives a much lower rate than what you are paying. If you find somewhere you like, contact the accommodation provider direct and ask for their best deal. That way you’re supporting what could be a small business owner. Or try Airbnb for unique accommodation options.
Check local bargains
Often there are significant price differences between home and overseas. For instance, a camera may be cheaper in Italy but a haircut is a lot more expensive.
Take the bus/tram/train/subway
Reduce the stress of driving in large cities with different road rules. Instead drive to the outskirts of a city, park and catch public transport. This also gives you a better chance to mix with the locals.
Eat where the locals do
Many prominent eateries can be tourist traps. Take a stroll up the back streets and you can often find tasty local food at a fraction of the price.
By saving money as you go, maybe you could afford to extend your holiday! If you like the idea of being able to spend more money on your next vacation, a financial plan for the new year may be just what you need. Get in touch with our team by calling 1300 707 955 and enquire about our free, no-obligation consultation. In the meantime.. bon voyage!