At OctaFX, we often collect feedback to understand the motivations of our community when it comes to investing. One of the most common responses is the desire to earn extra money to spend more quality time with family and friends. In post-COVID times, a rising number of people specifically mention vacations as their motivation for investing. So we believe it’s the perfect time to share some tips that will help save you money for – and during – your next holiday trip.
Booking Your Vacation
Start by checking up on the country you’d like to travel to and the time. It will be visibly cheaper if you take your trip off-season. For instance, visiting Japan from June to July instead of the cherry blossom season can truly cut accommodation and flight costs. Researching the peak tourist season in your destination country is a good idea. But remember that travel during summer and winter tends to be more expensive than in spring and autumn.
Make sure to compare accommodation prices on web services like Agoda, where a standard family room in Tokyo can range from RM300 to RM800 per night. If you travel often, consider getting a travel credit card such as Maybank 2 Cards Premier, which offers air miles and cash back. Don’t rush into purchasing the first flight you come across. Instead, use services like Skyscanner or Google Flights for a variety of better options. Still, be cautious not to select flights with tight connecting times – these could lead to missed transfers and the need to purchase expensive last-minute tickets at the airport.
Additionally, if you cannot exchange some particular foreign currency in Malaysia, locating the best currency exchange spots in your destination city and avoiding airport exchanges is essential. The airport currency exchange counters usually offer significantly lower rates, sometimes even less than half of the regular exchange rate. To avoid paying excessive amounts for health emergencies while traveling, make sure to get travel insurance. If you’re traveling with your family, you can save some money by going for the family insurance packages instead of buying separate ones for each family member.
Packing For The Trip & Planning Your Activities
Cut costs by packing wisely. Include essentials like Panadol, which can be more expensive abroad, especially in tourist areas like Paris or London. Be sure to pack your traveling bag with snacks such as energy or granola bars or even homemade food to avoid the need for costly meals at the airport or during the flight.
Airlines such as AirAsia charge around RM50 for each extra kilogram of baggage depending on the destination, so pack light. But remember to include clothes suitable for your destination’s weather. In addition, it’s worth investing in a good quality reusable water bottle for each family member. Your travelling friends should do the same. This not only cuts down on plastic waste but can save you money, especially in cities like Seoul and Sydney, where safe and free drinking water refill stations are readily available.
When it comes to sightseeing, consider skipping the guided tours. Be your own guide instead. Many cities offer free or low-cost attractions like London’s British Museum or New York’s Central Park. For children, look for places that offer discounts or even free admission, like Tokyo Disneyland, where children under the age of 3 enter for free. Look for places to stay that are conveniently located near the sights you wish to visit. By doing so, you can take advantage of public transportation or even explore the area on foot, saying “Goodbye” to expensive taxi rides.
Money-Saving Tips During Your Travel
Consider using public transportation instead of Grab or rental cars. Mass Rapid Transit (MRT) and subway systems are efficient and affordable in cities like Singapore or Seoul. Moreover, they offer you a glimpse into local life. The use of domestic SIM cards is typically cheaper than roaming services – in Thailand, for example, a local SIM card can cost around 499 Baht (around RM65) for eight days of unlimited internet, available at the Suvarnabhumi Airport.
Steer clear of tourist traps where light meals may cost up to RM100 per person. When using Google to find a restaurant, look at the comments section. Seeing a lot of tourists’ comments could signify that the establishment is leveraging its popularity to charge higher prices. On the other hand, lesser-known restaurants with few or no comments can still offer great dining experiences at more affordable prices, as locals often frequent them.
Exploring local markets and trying out street food is also a fantastic way to delve into the urban culture while enjoying delicious meals. In a local Bangkok market, for instance, you can delight in a bowl of authentic Pad Thai or mango sticky rice for as low as 50 Baht (around RM7) each. In Europe, bakeries often offer delicious and affordable sandwiches and pastries. If your accommodation, like an Airbnb, has a kitchen, consider cooking some meals. Buying groceries from local supermarkets like Coles in Australia or Carrefour in France and cooking yourself can be a fun family activity and save you a lot of money.
Key Takeaways For The Canny Traveler
Traveling with your family and friends creates cherished memories that last a lifetime. These experiences, however, don’t have to come with a hefty price tag. By using these travel tips, from smart booking strategies to packing essentials, using public transportation, and embracing local food experiences, you can make the most of your adventurous journey without excessive spending. Careful planning, wise spending, and immersing in the local experience are the keys to a budget-friendly trip.
