Money Matters: Travel Edition

Have you ever felt the thrill of exploring a new destination while simultaneously worrying about your bank account? It's a common dilemma for many travelers, especially those on a budget. As the saying goes, “What gets measured gets tracked”. Plan out the budget that you have available for any trip, and with this in mind:

1. Plan your route in advance

With technology right at our fingertips, there are few excuses for not doing sufficient research into your destination. Furthermore, it is common that last-minute bookings tend to be more expensive. Have a general itinerary planned so that you can make your bookings in advance.

2. Be creative when it comes to souvenirs

Depending on how many people you are planning to give, the cost can add up extremely quickly. An easy yet meaningful way to keep cost down is to get local snacks that are unique to your destination. These snacks are often reasonably priced and offer a taste of the local culture.

Apart from budgeting, here are some tips to protect your money while overseas:

1. Spread out your cash

Using cards can help to mitigate the risk of having your cash stolen. However, if your destination is mostly cash-reliant, do ensure that you do not bring out all your cash every time, so that you will have a backup stash in case anything happens.

2. Be vigilant

In a foreign country, ensure that your cash and valuables are with you at all times. Minimise distractions like using your phone while on the go, and be cautious in crowded areas.

To conclude, there is no need to sacrifice long-term happiness for short-term gains. With a well-crafted budget, smart money management practices, and a little bit of planning, you can enjoy travel without breaking the bank.

Written by: Tan E-Zhen

09/2024