6 Tips To Help You Save Money Abroad
By Parker Diakite
If you are planning a trip, here are six ways to save money for a budget-friendly vacation:
Call The Hotel And Ask For A Better Rate
Using booking platforms like Expedia or Priceline means there’s essentially a “middle person” for the deal, so you might not get the best rate. According to CNBC travel experts, these booking platforms known as “OTAs” are charge commissions on room bookings and hotels, adding fees to your reservation.
Instead, travelers should consider calling the hotel directly for a better rate.
OTAs are great tools for price comparisons.
Ask For Cash If You’re Removed From Your Flight
It’s no secret that airlines constantly overbook their flights and ask travelers to take a different flight at a later time. The change in flight time often comes with a voucher from the airline, which can be appealing for travelers not in a hurry to get to their destination.
If you don’t volunteer, and end up getting involuntarily bumped from your flight, under federal law you can ask for cash instead of an airline voucher, as reported by CNBC.
The amount of compensation you’re entitled to depend on the length of the delay and the price of the ticket but the maximum compensation is $1,350 for a domestic flight.
Eat Family Style Meals
Food is an inevitable expense when traveling because, obviously, you have to eat. How much you spend, however, depends on you.
There are ways to save money on food, including grocery shopping, purchasing food from street vendors, and eating family style meals.
Travel expert Rick Steves told Business Insider:
“Whenever possible, I order family-style so I can eat my way through more of the menu,” he said. “Often, my travel partner and I will order one high-risk and one low-risk dish — and at worst, we’ll split the edible one. Or we order a little buffet of appetizers or first courses — they’re filling, less expensive and more typically local than entrees.”
High-Interest Savings Account
Chances are, you’re probably saving money for a trip or have an ideal budget set for your destination. So, why not open a high-interest savings account?
The advantage of high-yield savings accounts with online banks tends to offer savings options with interest rates that are roughly six times higher, on average, than local banks and credit unions, according to an analysis by DepositAccounts.com.
Book Someone Else’s Room
Roomer Travel is an online booking platform that allows people to post their non-refundable reservation on the website and transfer it to someone else at a heavy discount.
Travelers can save up to 80% on hotel rooms worldwide.
Beware Of Foreign Transaction Fees
Some credit cards and banks charge an international service assessment (ISA) fee or foreign transaction fees every time you swipe use your card abroad. Those fees can be charged by both the credit card network (Visa, MasterCard, etc.) and the card issuer (your bank, credit union, etc.). They can add up quickly, so to save a few bucks, make sure you contact your card issuer to see if they charge a fee. Opt for cards that don’t charge fees if you plan to make purchases internationally.