finance

5 Ways You Can Save Money On Your Next Solo International Trip

One of the most daunting aspects of getting ready for any trip is the high cost of airfare and hotel rooms, which depending on where you’re traveling to, can easily reach several hundred dollars for a single flight or night in a room.

Add those up, and you’re looking at several thousand dollars for the total cost of flying to another country. And that’s not at all counting the cost of food, public transportation, and miscellaneous expenses to name a few things.

In fact, the cost of traveling is often the one thing that keeps many people who want to travel from actually doing so, especially for solo travelers who won’t be able to split the cost of expenditures with anyone else.

Fortunately, a number of strategies exist that you can use to reduce the cost of traveling internationally as much as possible, and that’s what we’re going to talk about today.

Here are five ways that you can save money on your next solo international trip:

1 – Travel During Cheaper Months

Many people think it’s a myth that it’s cheaper to travel during certain months of the year, but it’s also true.

Generally speaking, spring break and summer time are the most expensive times of the year to travel, but late spring and fall tend to be much cheaper. January also tends to be a cheaper month to travel as well.

Why do these times of the year tend to be cheaper to travel? The answer is simple: there’s usually less travelers during these times, which means that there’s also less demand. This all translates to lower prices.

2 – Try One Way Flights Over Round Trips

It may be simpler to book a round trip flight, but that doesn’t mean it’s always cheaper. Sometimes, the cost of a one way flight from one destination to another will be so low, that even when added up, they’ll still be lower than the cost of the round trip flight.

This isn’t always the case, so the only thing you can do to find out is to research the costs of the flights from the various available airlines to your specific destination. Have your calculator out, and just go with the cheapest option.

3 – Get A Guaranteed Exchange Rate

One aspect of international travel that many novice travelers overlook is the issue of payment methods. Chances are very good that you won’t be able to use USD currency in the overseas country you’re traveling to.

Sure, you can use a credit card if you want to (more on this coming up) if it allows foreign transactions, but it’s still a good idea to have cash on hand in the local currency.

To do this, you’ll need to use a money transfer service to convert the money, and there are two expenses you’ll need to pay: a fee to convert the funds, and then a margin of the exchange rate between the two currencies.

The problem here is that the exchange rate is always changing, which means that it’s possible to pay far more than you should have to. To avoid this, ask for a guaranteed exchange rate in the quote from your selected money transfer service provider.

4 – Use Your Credit Cards Strategically

You have to be careful about how you use your credit cards so you avoid going into debt. But if you use your credit cards right and pay your bills on time, they can really turn into one of the best travel aids financially speaking.

Not only can you use rewards points with certain credit cards for travel, but many credit cards also offer excellent travel bonus offers for signing up and spending a certain amount of money within a certain amount of time. Gaining a few free flights or hotel room stays with a bonus offer is more than possible depending on the card you’re using.

5 – Consider Hostels Over Hotels

No, hostels don’t exactly offer you the privacy of hotel rooms. But on the flip side of things, what they do offer you is a greatly lower expense.

Whereas you may have to pay several hundred dollars a night for a good hotel (depending on where you’re going), it’s possible to stay at a hostel for far cheaper than that (as in $50 a night or far less than that sometimes).

Saving Money On Your Next Solo Trip

Even if these strategies won’t enable you to travel for free, by applying them successfully you’ll still be able to keep the cost of traveling overseas as low as possible.