We tend to think of saving money as a budgetary decision we make when finances are tight. But that’s not always the case. After all, even those with incredible means understand that wasting money for the sake of it is usually not a good decision.
This much is especially true when it comes to travel, as it’s never easier to spend money on convenience and comfort than when you’re abroad or in a new location you don’t recognize. That’s especially true to keep in mind during one of your prolonged travel experiences, especially if you intend to stay in a given area for quite some time.
Perhaps you’re in town to visit your family while supporting a relative going through a difficulty, or maybe you’re scouting out a city to decide if expanding your business here is worthwhile. Either way, planning to stay for a long period without necessarily wasting money you don’t need to spend is a skill you can learn.
Let’s help you with that, below:
Rent Apartments, Not Hotel Rooms
Hotel rooms really do stack up in cost over time, even in relatively basic two or three star buildings. For this reason, it’s a much better idea to rent apartments, even if luxury or with all the trimmings, because you’ll save money in the long term but won’t be locked into a tenancy contract. This is especially important if you’re hoping to stay in an area near affluent real estate, as any other options can become extremely expensive. For instance, renting well-furnished apartments near Capitol Hill is sure to work out cheaper in the long run, and provide the incredible standards you require.
Cook Your Own Meals Instead of Eating Out
Dining out frequently can quickly drain any funds you have (more on that later), especially in areas with a thriving restaurant scene – we get that this is a delicious place to occupy and travel abroad can introduce you to authentic cuisine, but if you’re staying for a while, these expenses can add up. Instead of relying on takeout or restaurant meals, make use of the kitchen facilities in your rented apartment.
Preparing your own meals not only saves money but also lets you experiment with local ingredients, and there are many farmers’ markets and grocery stores can provide fresh options, with lovely people happy to share their cuisine and make recommendations. This usually gives you a better feel for the local culture and saves you money. There’s a reason you see so many Parisians with baguettes and cold cuts walking home with glee.
Review Your Budget & Split It By Day
Even if you have a fairly worthwhile travel budget, it’s so easy to overspend when you’re abroad and not realize it. This is especially as you’re getting used to the new cost of living in that area which may not match yours back home. For example, taxes can often really raise the price of indulgences and comforts, but you may also find that transport is much more affordable in one way than you had imagined. Splitting your spending to a daily allowance can help you keep all this easily understandable in your mind, and keep you moving forward with confidence.
With this advice, we hope you can more easily save money even when traveling in the long-term.
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