Traveling and ticking travel destinations off your bucket list isn’t something set out for the millionaire club only. Even with your little income and high expenses, you can still travel the world. How? Eight things that you can do to have a luxury vacation for less money. Take a look at this shortlist of tips to travel the world.
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How do you travel like a millionaire?
1. Track your spending
It is stressful to check your bank balance from time to time but, with a day set aside and a bottle of wine, you will get a clear picture of what your account looks like. Tracking your expenses makes it easy for you to identify your biggest expenses and the unnecessary expenses you can cut out to save more money for traveling.
Being aware of your financial situation is the first step to financial freedom and a step closer to your dream vacation. The extra money you find when tracking your expenses will help you a lot
2. Be ruthless about budgeting
You need to budget for your life and your trip. Determine how much the trip costs. While some people are thrifty, you cannot afford that luxury. So, you should make your choices wisely, with your accommodation going for almost nothing.
How is this possible? Start by looking at the type of accommodation offered in your travel destination, and then look for cheap accommodation opportunities. You can offer house-sitting services for Toronto condos or holiday homes. So, you don’t have to budget for accommodation. Since you’ll probably cook for yourself, meals should be affordable.
With your strict budget, you should be able to save and reduce your flexible expenses. Shopping with cash is the best way to stick to your shopping budget.
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3. Cut out unnecessary spending
Determine your needs and wants. By creating a list of the things you really need, there will be some balance directed to savings at the end of the day. What does this mean? Ask yourself if you really need the Frappuccino, the new clothes, or the beers on Friday.
4. Which habits can you adapt to save more money?
There are daily habits that cost us unnecessary money. Can you cycle to work instead of driving or taking the bus? What about carpooling, have you considered it? Cooking at home instead of buying food will also save you money to improve your quality of life and to save on your traveling kitty.
5. Know how to pay for things before traveling
If you are making an international trip out of the US, you should call your debit and credit card company before setting out. Ask about fees you’ll incur transacting internationally. By talking to the card company, there won’t be any fraud alerts, and your accounts won’t get frozen.
Keep in mind exchange rates and transaction commissions when using credit cards. With this information, you will realize that withdrawing cash is cheaper and safe.
6. Pack medication you don’t think you need
Those vitamins, ibuprofen, allergy medications, and cough medications are necessary even when you feel perfectly okay. This med is overpriced in airports as well as in the convenient stores in the tourist areas. To prevent paying double the price, pack a small bag with these essential medicines. Just make sure that the medicine is in the original packaging and labeling.
7. Make more money
There are many opportunities you can take advantage of to earn. Use your skills to earn extra income, and don’t be choosy about the location of the second job. You can sell crafts online too.
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8. Use WiFi wherever possible
Calling and texting abroad are expensive. Look for ways of protecting your data, and also use protected WiFi internet only.
Be a local tourist, consider jump-off cities, and use regional airports to save a ton of money.