on December 17 | in Featured, LIFEWISE, MONEYWISE | by admin | with No Comments

Travelling locally or abroad? Carefully consider what the best options are to suit your travelling needs and wants. “It can be extremely easy to overspend and overlook a lot of costs when travelling. You can still have the holiday of your dreams if you plan correctly. Taking every financial aspect into consideration to ensure that you don’t run out of money while away, and that you do not return to a ‘higher mountain of debt’, debt that is newly acquired or expensive to pay back”, advises Wikus Olivier, debt counsellor at DebtSafe.

Olivier recommends the following tips to consider when travelling:

1. Knowledge is power

Often, what looks like the most attractive option usually isn’t. When starting to plan your holiday it is important that you do the adequate research to make the most informed decision. Look for the best packaged deal. Consider a variety of hotels/hostels. Request more than one flight or travel insurance quote before making your final decision.

2. Pay in advance

When travelling abroad it may be wise to consider paying for certain excursions or sightseeing outings before your holiday takes place. Products such as the London Pass and tickets to sights such as the Empire State Building are often cheaper or offer discounted rates when booked far in advance. Allowing you to either save more, or have extra spending money on your trip.

3. Travelling light

With airlines only allowing a certain amount of weight per passenger on-board travelling light can save you a few thousand – as extra baggage fees often apply should you exceed this limit. If you buy another bag while abroad to pack all your new fashion and gadgets, be prepared for a hefty additional charge on the way home.

4. Settling for less can pay off

Where you reside is not always important. Depending on situation and circumstance, you really only require accommodation that is clean and comfortable. In light of this, before you consider spending the bulk of your budget on accommodation, consider staying with family or friends. If this is not possible, consider self-catering accommodation or youth hostelling. Often times this can work out cheaper considering you don’t spend your entire holiday in a hotel room but exploring your holiday destination instead.

5. Make use of local knowledge

When traveling aboard try to avoid making arrangements for things like taxis and day trips through the hotel where you are staying. Rather talk to locals in the vicinity. They will most likely be able to provide exactly the same service and experience at a fraction of the cost.

6. Watch out for data and connection charges

When traveling abroad be careful when activating roaming on your mobile devices. It will cost you an arm and a leg in connection and roaming costs. Rather consider buying a cheap local SIM card to use while you’re abroad. The little extra effort to get this done will literally save you thousands when you get back in South Africa.

7. Avoid credit card allurement

While credit cards offer extra security when travelling, they can be financially tricky and expensive to pay back. The number one rule is not to take out a credit card just for travelling purposes. While you are only allowed to enter foreign countries with a certain amount of money, cash should take first prize. Facilities like cash passports to keep your ‘foreign exchange’ on can be acquired from your bank to help you manage your spending easily while abroad.

There is no question that a change of scenery is often needed, and travelling offers a perfect way to relax and refresh. Taking these basic travel tips into consideration when planning any getaway can help you save much needed money in the long run, allowing you to comfortably pick up where you left off upon your return, with minimal impact on your financial wellbeing.

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