The Amateur Financier

Going on vacation enables families and friends to spend some quality time together and explore new and exciting parts of the world – yet there’s a fine line between having an amazing time and potentially racking up hundreds and possibly thousands of dollars in debt.

Striking a balance can be difficult because it’s always in the back of your mind that you should be enjoying yourself, but that has obvious cost implications. There are plenty of ways, though, to save a few dollars here and there both before and during your getaway without it having a major impact on the quality of your break. Read on for more…

It pays to book up early

Quite a few of the costs associated with going on vacation can work out considerably cheaper if you plan – and book them – as far in advance as possible. Everything from getting a good deal on the best travel insurance you can afford to the price of flights and accommodation should be available for less months before you’re due to jet off on your adventures. Leaving it to the last minute will crank up the price. Unless, of course, you can bag yourself some last-minute deals, but it’s a risky approach to take.

Image courtesy of Tailspin T

Keep your wallet in your pocket at the airport

Airports can be expensive places, especially if you’ve got a few little ones in your traveling party. Keeping them and you occupied and fed and watered for hours on end on a budget isn’t difficult, providing you think ahead and act accordingly. Take your own food and drink to the terminal to save you having to spend a fortune at the usual fast-food chains, restaurants, shops and bars that charge more for their services. It’s also highly advisable not to exchange currency at airports as you tend to get less for your dollars due to a lower rate, although this is not applicable if you’re planning a ‘staycation’ right here in America.

Enjoy net gains while you’re away

Months of frantic planning and saving tend to go into a typical vacation, meaning the last thing you want to do is undo all that hard work once you arrive at your intended destination. Visiting tourist attractions can be a significant drain on your resources so any savings you can make on these will soon add up. Check the website of the places you plan to visit to see if any online discounts are available for booking in advance. Also keep your eyes on any voucher code websites offering cheap deals for restaurants and bars. On the subject of food, eating out a couple of times every day for an extended length of time will hit you hard in the wallet. Preparing some of your own snacks and meals will allow you to keep a tighter control over your money.

Don’t be afraid to haggle

Bargaining – or haggling – is commonplace in certain countries and cultures around the world so don’t be afraid to try and hammer down the price of anything that takes your eye. Mind you, you really ought to refrain from buying too many gifts and keepsakes altogether if possible as it’s an unnecessary expenditure at the end of the day. Be frugal and always let your head rule your heart.

Be shrewd with how you get about

You face a dilemma every vacation when it comes to working out how you and your companions will get about on a daily basis. Hire a car? Walk? Use public transport? If you can get by without having to rent a car and exploring on foot then do so because it’s obviously free of charge, a good source of exercise and is a good way of discovering more about a place.