Many have this preconceived notion that travel is expensive and something only the rich can afford to do. I’m here to dispel this myth entirely. In fact, travel can actually cost less per month than a regular lifestyle back home! When I was backpacking around Asia in 2011, I spent less than $1000 USD per month on average. During my South American adventures in 2010, my monthly expenditures were roughly $1500 USD. The following is a list of 10 tips to save money while travelling overseas:
1) Travel Outside of North America and Europe
Travelling in North America of Europe is certainly expensive. Developed nations have a much higher cost of living and finding budget or value accommodation and activities is often tricky. Consider travelling in South East Asia or Central America where the cost of living is much lower. Not only will this offer better bang for you buck, but these countries will be far more exotic than nearby options back home.
2) Travel with a partner
Travelling with a partner can help you save money in a number of different ways. Meals, food, drinks and long haul transportation will still cost the same; however, accommodations and local transportation (such as taxis and tuk-tuks) can be split.
3) Slow Down
One of the biggest mistakes of first time backpackers is to feel the need to rush around and see and do everything. Slowing down is the name of the game when it comes to reducing costs while traveling and taking less things in your backpack while mobile. Not only will you experience local culture in a more enriching manner, but more importantly, you’ll save money by not having to buy transportation all the time.
4) Eat Locally
Foreign food restaurants are always more expensive than local options. This rule applies to any country. One of the best ways to save money while travelling is to eat locally. Try to find restaurants that locals frequent as opposed to tourists. Not only will the prices be lower but the food will also be more authentic.