Saving money whilst on holiday – and enjoying yourself at the same time – is no easy feat, but with Check Your Credit’s quick tips, it’s possible to cut your costs and have a memorable, fun holiday. In part one, we covered how you can save by travelling during off-peak seasons, booking your own flights and staying on budget accommodations. Here are three more tips:
People tend to spend more money shopping whilst on holiday as opposed to shopping at home, so resist the temptation to spend on things you don’t need, such as overpriced clothing or jewellery. If you’re on a shoestring budget, avoid venturing into shopping centres or luxury boutiques. Moreover, memories can be captured on camera rather than by buying pricey souvenirs. If you feel yourself gravitating towards an impulse purchase, ask yourself “Will I wear/use this at home? What else could I buy with this money? Can I get a similar item at home for cheaper?”
Spending abroad on credit can rack up credit card fees, conversion fees and high interest rates on cash advances, but you can avoid this by looking for a card specifically designed for travellers [Note: Please link to the 11 Mar article Avoiding hidden fees in credit cards when it’s published]. If you anticipate paying for accommodation and other big-ticket items on your credit card, look for a card with no international transaction fees and low charges. If you expect to withdraw cash from an ATM when overseas, watch out for ATM fees, cash advance fees and high interest rates for cash advances. It’s also advised to notify your credit provider prior to travel to avoid your transactions being stopped on the basis of potential fraud.
Global roaming charges and hidden mobile phone usage fees can give you a nasty shock at the end of the month when you receive your bill, so avoid this by following the below tips:
- Turn off your data roaming, cellular data and 3G (you can still use Wi-Fi)
- Turn off GPS or location services
- You can also buy a prepaid SIM card at your destination
- Communicate with friends and family via social media, Skype and WhatsApp (can be accessed with Wi-Fi)