Traveling can be one of the most rewarding activities out there. From exploring foreign lands, meeting new people, to gaining more knowledge of the world, travelling is the way to go in order to experience more joy in life. Have you made it a New Year’s resolution to travel more in 2019? Nevertheless, not only will you be learning about new cultures, but you will also be taught important financial lessons. Everyone makes money mistakes now and then, so it is important to know how to avoid some common errors and manage travel funds. Here are 5 money lessons travelling can teach you in the new year.
1. Money is power
It is not a secret that money is one of the most powerful forces on the planet. Choosing how and when you spend your hard earned money can have a major impact on the people you meet on your trip or the places you decide to visit. Thus, it is important to choose wisely and think with a clear head. Ask yourself questions such as „What am I supporting by spending my money?“, or „Does me spending this amount of money help the local people?“. For example, instead of buying a generic burger from a brand that you can easily find at home, opt for a traditional meal served by the locals. Not only is street food delicious but it can save you a lot of cash!
2. Prepare a budget
A well-thought-out strategy when it comes to preparing a budget for your upcoming trip is key to make sure that you do not bump into any inconveniances. Most importantly, set up a budget before taking the actual trip. Costs such as transport, lodging, food, and other costs all add up quickly. Try to limit the expenses just as you would limit it in daily life (groceries, paying the bills, and so on). So, next time you decide on going on a holiday, you will be certain that there will be no financial issues. The bottom line is, tracking your expenses is excellent to make sure that you save up for the future.
3. Expensive is not always better
Sometimes, when we are on vacation or just taking a leisure trip, we do not take the time to research about all the local areas beforehand. Because of this, it is highly possible that you stumble across a restaurant or a bar that charges you with a bill that could feed at least ten people. This reinforces the fact that a lot of the times, more expensive places do not equal better quality. To avoid this common mistake, it is best to search for cheap alternatives, or just something that fits into the budget. It might be surprising, but commonly, the cheap local food tastes much better than the meals prepared in fancy restaurants.
4. The best things in life are free
This might be a cheesy saying, but it does not mean that it is not true. A lot of the times, people get concerned by the material things which might cause a lot of stress when it comes to limiting the budget. Because of this, people on trips frequently do not enjoy the simple pleasures such as a friendly conversation with a local or a majestic sunrise. Instead, they focus on getting expensive souvenirs and worrying about hotel bills. It is important to remember that the best memories that anyone will cherish for a lifetime come from long conversations, aimless walks around town and other things that money simply cannot buy.
5. Try to avoid theft
Having street-smart can be one of the most useful things not only when travelling to far lands, but also generally in life. Since poverty is a major issue all over the world, criminals and petty thieves are all around. Nevertheless, if something goes wrong, then you should not resort to panicking. Loosing your nerves simply does not help your situation in any way. In fact, panicking can lead to even more problems instead of solutions. If you notice your money missing, then relax and take a few deep breaths. It is important to remember that the air you breath is free, and that you will probably not starve to death. So, gather your thoughts and start thinking about possible solutions. One of the best ways to avoid any theft related issues is to leave all your expensive equipment behind. For example, a lot of people carry their laptops and high tech cameras around. Also, do not forget about jewelry. People from some countries might perceive such a „blinged“ out person as deliberately wanting to be mugged on the street. So, to be safe, take simple precautions and make sure that your valuables are secured.
In summary, by planning ahead and setting a realistic budget, anyone can enjoy their trip at its fullest. Remember, be fearless and embark on an adventure of your lifetime!