How to manage finances during travel

It is easy to get tired while following the daily routine in our lives. Travelling to different places is one of the best ways to get rid of the stress and it can also inspire people and help them return with a higher level of energy and will to tackle the situations.

People plan a lot for the journey but once it starts one needs to follow the plans and refrain from spending money on unnecessary things. Managing the finance is one of the most important things that one must keep in mind while travelling. Here are some of the tips which will definitely help in saving money while enjoying your trip.

Bargaining while purchasing

If you are looking to get a souvenir then you must try to bargain if the price isn’t specified or fixed. At many places, the sellers or service providers try to rip off the tourists. Some sellers sell stuff over five times the normal price to the tourists. So, the basics of bargaining are you try to value the price of an item a bit lower than what you think it is and the seller will probably value it at a higher price. You two are supposed to have an argument with an end result that you get what you want at a reasonable price. If you are convinced that the merchant is ripping you off then just leave. There is no need to argue as you can get the item from somewhere else.

One of the best ways to bargain is to accompany somebody who lives at the place you are visiting. They will help you get the best price for the things that you want. If you don’t have anybody accompanying you then try to get an idea about the price before going shopping.

So, if there is a scope of bargaining you should absolutely bargain but do so politely.

Exchange your currency at the destination

It is generally a better option to exchange your currency after arriving at the destination. This is because you will find better exchange rates at the destination. Just ensure that you have enough local money for the travelling expenses on the first day of the visit.

Try to avoid the black-market exchange offers. They might seem lucrative but they are rarely better than the official exchange rates and more often then not they are going to rip you off with fake currency notes. One big important thing is that they are illegal.

Use Prepaid Cards and travellers’ cheques

Prepaid cards, as the name suggests are cards with a definite amount of money assigned to them. They can be used in a similar fashion to the regular debit or credit card. What makes them perfect for travelling is that they are not linked to your bank account. This means if they are stolen then at most the money stored in them is what you will lose instead of the thief draining your bank account.

Traveller’s cheques are an excellent option as they are accepted in almost every country. Just ensure that you note the cheque numbers and keep the note somewhere safe. In case you lose them, they can easily be cancelled and you can get new ones. Just remember, you’ll incur a commission charge every time you cash a cheque.

Compare the prices of fare and hotels online before booking

One of the most important thing that you need to take care of while going for a trip is booking your tickets and hotels. There are a lot of websites that help you in comparing the fares for air, train and bus tickets. Use them to find the best option for your journey. If you are travelling via bus then try abhibus coupons while booking your ticket and save upto Rs.300/-. Similarly, many online websites compare the prices of hotels as well. It is an excellent and safe option to book your hotels beforehand as you might be charged exorbitant amounts of money if you are planning to book your rooms after arriving at the destination.

Be careful if you are renting a vehicle

Many people prefer to rent a vehicle while travelling as it gives them the freedom to go anywhere they want at any time they want. Renting a vehicle has its own risks though. If you crash the vehicle then the agency will charge you a lot of money in order to get it fixed. It is much better to get it fixed yourself instead of paying the fine to the agency as it will a lot cheaper in many cases.

The best option is to either use the public transport or if necessary use cab services such as Ola and Uber. They are a lot economical when compared to hiring a vehicle and the risk involved with them is extremely low.

Avoid eating near major tourist spots

If possible avoid going to a restaurant or any other eatery near a tourist spot. The reason behind this practice is that the cost of food is almost twice of what you will get at any place which isn’t located at a tourist hotspot. What’s worse it that it won’t even taste as good as the food available at other places. The concept behind this practice is that the eateries are aware of the fact that their usual customers will be the tourists. These tourists are just one-time customers and most of them will be unaware of the quality of local dishes. This allows them to charge huge amount of money for below-average food. On the other hand, the eateries located within the city have customers who are local people so they ensure that their food quality is good and rates are low so that they can have regular customers. So, if you are hungry then your best option is to find a quite restaurant at some distance from a tourist hotspot and you’re your meal over there.

Get a travel insurance

It might seem contrary to the scope of this article but never skip a travel insurance. It is best to prepare for the worst. A trip might end up in a disaster as you might lose your expensive camera, pop an eardrum while scuba diving or need to leave the country in case of a disaster. Travel insurance protects you in foreign land and is a necessary practice. It protects you from medical related as well as non-medical related emergencies. If you don’t have insurance then you might end up spending quite a significant amount in case of a mishap.

Bring along a friend who is a local

Lastly, if you know someone who lives at your travel destination try to accompany them. They will have the best idea when it comes to wandering around the place. They can help you get the best prices, provide with the information regarding the events and culture. The best thing is they probably won’t charge you a whole lot of money and in most cases a little bit of booze is all you need to provide them for the services.

Conclusion

Travelling to new places is a great experience as it helps us learn new things, experience the diverse culture and at times make new friends. It is an eye-opening experience, just make sure you have planned properly and will travel responsibly. I would like to conclude with a quote by Gustavo Flaubert- “Travel makes one modest, you see what a tiny place you occupy in the world.”