Features

7 Travel Money Hacks To Help You Stretch Your Travel Funds Further

In the lead up to an overseas trip, the list of things to plan, manage and organise is extensive. From schedules to airlines to eateries – one of the most exciting parts of a holiday is carving out a bespoke itinerary, filled to the brim with all the things you enjoy most. For this reason, we’ve prepared a list of the top travel money hacks to help your cash carry you further.

One thing that’s not in your control is the state of the global economy – particularly at the moment when the Aussie dollar is notably weak. It’s not a great feeling, watching your hard-earned cash all but halve after exchanging it into a stronger foreign currency (looking at you, pounds sterling) but like any intrepid traveller, you persevere, and don’t let it ruin your long-awaited trip.

The good news is there are ways to minimise the effects of this buzzkill. All it takes is following some savvy know-how and you’ll still have plenty of leftover funds for last-minute airport gifts. (Or extra guac). Check out our list of travel money hacks here.

#1 Pick the cheaper destinations

 

View this post on Instagram

 

A post shared by Stewardess (@dalia_faris) on

If the sole intent of your trip is to experience escapism in its purest form (ie, taking a break from your life) think about choosing a destination that’s conducive to stretching your dollar further. Destinations such as South-East Asia, South America and Eastern Europe.

Visiting the United Kingdom and the United States (while certainly spectacular) will undoubtedly chew up your savings faster. And remember, those places aren’t going anywhere.

#2 Pay what you can in advance

This unfathomably simple hack won’t just free up precious travel time and energy by not having to bother with holiday logistics, but by making as many upfront payments as possible, you’ll lock in an exchange rate ahead of time and will know exactly how much is leftover in your budget for spending money.

#3 Learn comparable Aussie prices

 

View this post on Instagram

 

A post shared by BAKERI (@bakeribrooklyn) on

Coffee in the US can sometimes cost up to US$6 a cup (and most isn’t even that good). Translation: nearly AU$10 for a morning cup of joe. It’s easy to find alternative options for the things that are part of your everyday routine if you’ve thought about it in advance. You’ll also be able to bask in some well-deserved smugness for wisely avoiding unnecessary things that chew up too much travel money.

#4 Shop around for accommodation

This is one of the most effective travel money hacks on this list. With so much exciting stimuli at your fingertips, the likelihood that you’ll be spending an excess amount of time at your lodgings is slim. And while a week at a 5-star luxury hotel sounds unbearably appealing, being selective with accommodation is one of the simplest places to save money.

The difference between 4- and 3-star hotels can be a huge jump in budget for nearly the same thing, so it’s wise to shop around and consider all options. (Including Airbnb, or digs that are a little further out of the action!)

#5 Fly on cheaper days

 

View this post on Instagram

 

A post shared by Bradley (@bhogg_96) on

If you’re lucky enough to have a flexible schedule and can dictate what days you travel, look into flying during the middle of the week. By avoiding weekend travel (and the Fridays and Mondays on either side), you can save a bunch – and have a bigger chance of getting a spare seat next to you on an international flight – by booking a less in-demand fare.

#6 Keep an eye on currency rates

Keeping an eye on foreign currency can work wonders for getting the most bang out of your buck. If you’re planning on exchanging a bulk of cash all at once – choose a day that’ll work in your favour. Converting cash strategically can save you a lot.

#7 Use a travel money card

If you’d prefer to keep all your money safely where you can see it (in the bank) and withdraw only on a case-by-case basis, make sure you pick up a travel money card before you jet. These cards lock in foreign currency at that specific day’s exchange rate and won’t be charged withdrawal fees from international ATMs. Plus, you’ll avoid the sting of overseas credit card charges.

Be sure to pass on these travel money hacks! Your fellow travellers will thank you. And while you’re penny pinching for your next trip, check out what these travellers spent on their last holidays.

Check out Qantas flights to begin your next adventure.

(Lead image: Jamie Fenn / Unsplash)