Young people are more likely to prioritize spending on travel than older generations, sometimes to the detriment of their savings accounts. However, seeing the world or travelling doesn’t have to be expensive. Here are four easy ways to save money while travelling that you might not be aware of.
Use credit cards when you travel abroad
While travelling abroad, the best option for paying for things is to use a credit card with no foreign transaction fees. But even if your card has a fee, it could be a better deal than converting currency at a kiosk. In fact, using a credit or debit card is likely cheaper than converting at most banks and credit unions.
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Why waste the time exchanging physical currency, not to mention risk carrying it around, when a credit card will handle everything automatically and give you the best exchange rates.
Take advantage of your travel rewards
There various ways to gain travel rewards. It can be through miles that allow you to get access to perks like travel lounges and discount. They can also bail you out of a tough situation.
Airlines routinely overbook flights, then ask for volunteers to take a later flight. There’s usually a voucher up for grabs, which can be enticing for budget-conscious travellers not in a hurry to get to their destination. But if you don’t volunteer and end up getting involuntarily bumped from the flight, you can ask for cash instead of an airline voucher. The benefits are twofold: for one, you can use cash for anything, and two, cash doesn’t expire, while vouchers do, in some cases.
By Damilola Faustino
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