How to Make Your Money Last When Traveling

Looking for ways to make your money last for your next trip or when traveling in general?

We all love to explore new places. 

From bustling cities to tranquil beach resorts, travel can give us experiences that turn into our favorite memories. But whether you’re traveling for the first time or setting off on a longer tour, the budget might not stretch to cover the entire trip.

While not every holiday needs to be a high-end getaway, there are several ways to save money and stretch it further. We’ve covered some of the best ways to make the most of your trip below.

How to Make Your Money Last When Traveling

Now let’s get to the heart of this guide. These are my best travel tips for getting more out of your budget.

1. Choose the Destination By Cost of Living

The best way to make your holiday budget last is by going somewhere affordable.

This doesn’t need to mean compromising on the quality of your holiday, either: some of the best value-for-money destinations boast incredible opportunities for tourists.

Popular low-cost cities in Europe include Budapest, Prague, Warsaw, and Faro.

Choose from landlocked urban centers or head to the coast for more variety – where sunbathing will always be a free option.

From there, you can explore so many new places and visit free attractions. 

2. Be Aware of Travel Fees

Traveling on your own means you’ll need to be prudent about money management. Many banks facilitate fee-free holidays, but it’s still worth knowing the rules and getting your holiday cash while you’re still in your home country. 

If you’re using mobile banks, you’ll likely be able to spend money on your card and withdraw some foreign currency without fees. But daily or weekly limits may apply, so make sure you research this for your financial planning. 

Using a regular bank card abroad might feel simpler, but you’ll likely encounter both poor exchange rates and transaction fees. If you must use an ATM, make sure to decline any on-the-spot currency conversions.

Also, be aware of extra fees such as resort fees and extra charges when purchasing (ex. added tax when shopping in the US).

3. Get a Side Hustle Before You Go

Saving a little bit of money always helps before a holiday, but it’s easy to accidentally spend too much of your regular income.

To prevent dipping into the savings you’ve already set aside, working more could leave you with extra cash to splash on holiday.

Online side hustles mean you could earn money while you’re away, too. Trading makes a great example, and it only takes one or two hours every day to enjoy great earnings and flexibility.

Just make sure to create an account on a secure platform like Tradu, keeping in mind the time differences. 

4. Choose Self-Catered Accommodation

Nothing feels more relaxing than the comfort of a hotel room, but it’s important to choose the most cost-effective option.

If you must choose a hotel, try to look for Full Board catering options, which indicate that you’ll be provided with breakfast, lunch, and dinner throughout your stay.

However, self-catered accommodation options could make the most affordable solution for you and your travel companions.

When you have unlimited access to kitchen facilities, you can buy groceries from local supermarkets and cook delicious meals, which inevitably saves hundreds on restaurant meals. 

5. Take Advantage of Public Transportation

Using public transportation is often one of the most cost-effective ways to get around a city.

Many cities offer daily or weekly passes that can give you unlimited access to buses, subways, or trams for a fraction of the cost of taxis or rideshares.

In some cases, walking or renting a bike can be a great way to explore, especially in bike-friendly cities like Copenhagen or Amsterdam.

Before you arrive at your destination, research transportation options to figure out the cheapest and most convenient methods of getting around instead of getting a rental car.

Apps like Google Maps and Rome2Rio can help you plan your routes.

6. Use Points and Miles

If you frequently travel, using travel rewards credit cards can help you accumulate points or miles that can be redeemed for flights, hotel stays, or car rentals.

Many cards offer sign-up bonuses that can significantly reduce travel costs. If you’re flexible with dates, you can often find better deals on reward bookings, making it an excellent way to stretch your travel budget.

Make sure to use cards with no foreign transaction fees if you’re traveling internationally, and be sure to pay off the balance in full each month to avoid high interest charges.

7. Stay in Hostels or Shared Accommodations

If you’re traveling solo or with a small group, staying in hostels can significantly cut accommodation costs.

Hostels often offer communal kitchens, social areas, and organized activities that allow you to meet other travelers while keeping your expenses low.

If hostels aren’t your thing, platforms like Airbnb offer shared or private rooms that are often more affordable than hotels.

Some cities also have co-living spaces, where you can rent a room for a week or a month and enjoy a more immersive, local experience.

8. Travel Overnight to Save on Accommodation

One of the best ways to save money on accommodation is to take overnight trains or buses.

Many long-distance routes offer comfortable sleeper seats or beds that let you travel while also catching some rest.

This saves you a night’s accommodation, and you arrive at your next destination refreshed (kinda) and ready to explore.

This option is particularly popular in Europe and Southeast Asia, where rail networks are extensive and often affordable.

9. Look for City Tourist Passes

If you’re visiting a major city, look for city tourist passes before spending money. These often bundle attractions at a discounted rate.

These passes often include access to museums, monuments, and even public transportation, helping you save while still enjoying the main sights.

Some popular city passes include the Paris Pass, New York CityPASS, and London Pass.

By planning out which attractions you want to see in advance, you can determine whether a tourist pass is a good value for your trip.

10. Pack Light to Avoid Fees and Stay Flexible

Packing light saves you from paying for checked luggage and makes your trip much more convenient.

Many airlines charge for checked baggage, and overpacking can result in even higher fees and more money. So sticking to a carry-on can help you save a lot.

To pack light, choose versatile clothing that can be mixed and matched. Also, opt for fabrics that are easy to wash and quick to dry.

Bringing just the essentials also prevents the temptation to buy unnecessary souvenirs, helping you stick to your budget.

Plus, a lighter load makes exploring new places on foot more enjoyable and stress-free.

11. Bring Snacks and a Water Bottle to Save on Food Costs

Packing your own snacks is a simple yet effective way to save money while traveling.

Items like protein bars, nuts, and dried fruits are lightweight, filling, and much cheaper than buying snacks on the go. These options can help you avoid overpriced airport food or expensive snacks at tourist spots.

In addition, carrying a reusable water bottle can save you from constantly purchasing bottled water, which adds up over time. Many destinations have water refill stations or clean tap water, so you can stay hydrated without spending extra money.

12. Budget Before You Go to Ensure You Have Enough Money

Before setting off on your adventure, it’s crucial to create a travel budget to ensure you have enough money for the trip.

Start by estimating the cost of major expenses such as flights, accommodation, transportation, and food. Don’t forget to leave room for smaller costs. These include souvenirs, attraction tickets, unexpected travel purchases, and other expenses, keeping track of what you use.

One of the best ways to prepare is to start tracking your spending a few months before your trip. This will help you identify areas where you can cut back and save extra money for your travels.

By setting aside some extra cash for your next trip, you’ll have a financial cushion in case of emergencies or to splurge on a special experience.

13. Don’t Skip Travel Insurance

While it might seem like an extra cost upfront, international travel insurance is the one thing you shouldn’t skip when planning a trip.

Unexpected events such as flight cancellations, lost luggage, medical emergencies, or even having to cancel your trip can lead to significant out-of-pocket expenses. Having insurance ensures you’re protected and can avoid these costly surprises.

Insurance can save you a lot of money. This is by covering medical expenses abroad, reimbursing non-refundable bookings if your trip is canceled, or even compensating for delayed flights or lost belongings. Without it, you might find yourself paying far more than the initial cost of the policy.

When you’re budgeting for a trip, make sure to factor in insurance as a priority. It’s a small price to pay for the peace of mind that comes from knowing you’re financially protected, no matter what happens on your journey.

Wrapping Up

Overall, saving money on your travels comes down to planning carefully and being proactive about your earnings, too.

Avoid costly attractions and focus instead on maximizing your choices on a budget. These money-saving habits save a lot from your bank account while you’re abroad.

From free attractions to online banking, there are so many ways to save money abroad. 

I hope you liked this guide on how to save money on travel. Maybe you’d also like to read my guides on:

• Digital Nomad Jobs You Can Pursue with No Experience
• How to Make Money on the Road and Travel
• Great Jobs You Can Do From Anywhere

As usual, feel free to comment with any inputs or questions below!

//Josephine