Traveling is a lot of fun for many reasons, but one aspect of traveling that’s not so fun is knowing you have to pay for it.
Needless to say, traveling is not exactly a cheap endeavor and from the cost of airfare to hotels to activities to food and so on, the costs can add up.
Fortunately, there are ways you can save money for your next trip oversees so you don’t become too overwhelmed by the financial aspect of it.
Here are the top tips for saving money for your next international trip:
Open A Vacation Savings Account
If you open a saving accounts where you’ll set aside money for vacation, you can set up automatic payments to be sent into the account. This way, you’ll be automatically setting aside money throughout the year for your trip.
Also, if you choose an account where you can accumulate interest, you’ll earn even more money for your trip. You can also choose banks that will literally pay you to open an account and make an initial deposit; one example is Chase, which will pay you $200 to open a checking account with them.
Search For Money Transfer Services With A Low Exchange Rate
Traveling in a foreign country will always be easier if you have the currency of that country, and this is where employing the services of a money transfer service will come in handy.
With a money transfer service, simply pay the amount you would like converted in U.S. dollars. You will have to pay a fee (usually a small percentage or a flat flee) in addition to a margin of the exchange rate. To save on money, you’ll need to research the transfer services that have the lowest exchange rate.
Earn A Side Income
There are a myriad of freelancing opportunities available to make a side income. Even if you already have a 9-5 job, you can do little freelancing gigs on the side during mornings, evenings, or weekends to make even more money to pay for your trip.
Examples of freelancing gigs you can do include freelance writing, graphic design, website design, tutoring, or social media marketing.
Use Your Credit Card To Help Pay For Your Trip
You can use credit cards that will accumulate points for flights or hotel stays. This essentially gives you a discount for traveling.
How the cards will work, most of the time, is they will set an amount you have to pay within a certain amount of time (such as $3,000 in three months), and in exchange they will give you the opportunity to get redeemed for ‘bonus points’ that can then be exchanged for travel money (ex. 50,000 bonus points could be exchanged for $500 in travel funds).
Saving Money For Your Next Trip Oversees
There are many more tips and pieces of advice out there on how you can save money for travel, so don’t stop your research here.