As much as I have tried to will it I am not a millionaire. I am also not a trust fund baby, but if anyone is looking to adopt a slightly older child… So, many have wondered aloud at how I can travel abroad on a fairly frequent basis.
I have always had a strong desire to travel, so a couple years I decided to make it a priority. In doing so I don’t go shopping except for when I really need something and as much as I love eating out I try to keep it in check. I haven’t completely cut out fun, but I try to manage my expenses so that I can do what I love – travel.
Naturally, when traveling I try to be savvy about spend. Unless you are one of the aforementioned millionaires or trust fund babies then you probably need to make some decisions about what is important for you and where you can cut costs.
For example, I love hotels, but it is not important to me to stay in a four star one while traveling. I rather stay in a safe, good location and have fewer amenities. For my upcoming trip to Europe I am using Airbnb, a community marketplace for unique spaces, for my accommodations. It will be the first time I use the service, but it is allowing me to stay in the best locations in an apartment for prices of $50 a night.
Even as much as I love food I cut corners there too. The best food is not necessarily at the most expensive places. Ask locals where the hidden gems are, because most likely they are outside of the tourist areas. If you really want to go to that fancy restaurant by all means splurge, but look at cutting back for meals like breakfast where it is easy to save a few pennies.
Another cost center is debit and credit card fees. It is one of the worst feelings when you look at your bank statement to see withdrawal and foreign transaction fees. All of a sudden those fabulous shows you thought you got a deal on just cost a lot more. Do yourself a favor and get something like the Capital One Venture card, which has no international fees and will allow you to accumulate miles for your next trip.
What are your best cost cutting tips?