7 ways to avoid overspending on holiday
Holidays can be expensive, but with these seven tips you’re sure to save money while you’re travelling.
1. Plan ahead
Before you even leave the house, plan a budget. Decide what you’re realistically likely to spend each day and multiply it by the number of days you intend to be away. You can even use an online calculator to convert your New Zealand dollars into foreign currency so you know exactly what you’ll be spending while you’re abroad. Don’t forget to incorporate costs you might not have considered in New Zealand, such as tipping, as it is a custom in many holiday destinations.
2. BYO
If you’re staying close to home, bring your own food and drinks where possible. The price of food can skyrocket your spending, so save cash by packing your own meals. If you’re abroad, leave your resort, which might be pricier than local restaurants, in order to save money and explore.
3. Keep track of your spending
A budget is all well and good in theory, but you have to put it into practice. Don’t forget to actually monitor your spending while away. You can get travel money cards which allow you to have a set currency that you can keep track of online. Most banks today also have downloadable phone apps that show you your bank account balance right on your screen. The best way to not overspend is to know how much you’re spending!
4. Avoid additional fees
Avoid unaccounted for charges from ATMs by researching where you can find New Zealand machines abroad. Before you leave, keep an eye on conversion rates so you can change over your currency at the most financially opportune time.
5. Don’t over-pack
If your luggage is heavier or more numerous than your airline allows, you can be hit with exorbitant fees. It’s not at all uncommon to be charged an extra hundred dollars just because your luggage weighed a little bit too much. Check your airlines policies online: some won’t let you have one bag over a certain weight, but will actually let you have two that add up to more. Pack lighter, and make sure you weigh your baggage before you head out to the airport.
6. Don’t buy souvenirs
One of the most expensive parts of a vacation can be souvenir shopping. Limiting such purchases can drastically reduce your budget. When you go abroad, you feel almost obligated to buy a novelty gift for every person who said, “Bring me something back!” But really think about it: how often is anyone really going to wear that sombrero?
7. Get insurance!
It may seem like an unnecessary additional fee that you could cut out of your budget, but if something should go wrong while you’re holidaying, you could be hit with thousands of dollars of hospital fees.