There’s something thrilling about going overseas for a holiday right? But hold on, international travel is not just about having a good time. A big to-do-list and a wide range of costs need to be taken into account before creating itineraries and finalising logistics.
Dreaming about the ultimate foreign getaway? There’s only one catch! An overseas trip is a costly affair and can burn a big hole in the pocket. It’s a common misconception that foreign travel is only for those with deep pockets. But honestly, you don’t need to be super loaded to embark on an adventure abroad. The trick is to plan meticulously and build a travel fund. Read on for some smart strategies that can bring you one step closer to indulging your wanderlust.
- Budget and Timeline: The budget and timeframe play a key role in determining your overseas travel plans. It is thus important to factor the potential cost of everything from flight tickets, accommodation, local transportation, car rentals, meals, activities and more. This will give you some insight into the kind of financial resources needed for an upcoming foreign trip.
- Destination: Deciding where to go, can be little overwhelming since there are so many appealing locales out there. However, with some clarity on the timeline and the duration of your trip, it becomes easier to shortlist places that will fit your budget. The next step is to carry out thorough research by browsing through travel blogs, reading reviews and consulting professional travel planners to ensure you have made the right choice.
- Avoid Travel in Peak Season: If you are flexible, avoid travelling in the peak season. Besides being cost-effective, a trip in the slack period comes with perks and special deals. You can avert jostling crowds, snag a lucrative package and also take advantage of great discounts on flight tickets, accommodation, tours, and train fares.
- Flight Reservations: This is perhaps the biggest expense of an overseas trip, hence requires top priority. You may be surprised, but international airline reservations open almost a year in advance. And yes, the cheapest tickets are the first to sell out. This is a noteworthy point and will certainly work to your advantage if you are adhering to a strict budget.
- Plan and Fund with SIP: Financial constraints are the biggest obstacle to fulfil foreign travel aspirations hence it’s essential to build a corpus to cover the expenses. Ideally, you should start saving by opening a travel account like systematic investment plans (SIPs) that helps generate wealth via mutual funds etc. This is a great way to fund your foreign trip plan. You can decide on an amount that can be set aside on a regular basis without hitting your monthly budget. Also, cutting back on needless expenses and shaving a little off on the costly dinner/movies can go a long way in bulking up your travel fund.
- Book Accommodation in Advance: Once the destination is finalised and you have a tentative holiday date, it’s time to focus on the hotel/resort accommodations. Blocking rooms in advance can translate into some amazing deals. Put some thought into the kind of lodging you desire as prices vary. By starting early you have more time to check out options like bed and breakfasts, organic farms, renting a villa and splitting costs, homestays, and more that are easy on the pocket.
Now that you have all the nitty-gritty in place and found the perfect way to ramp up your travel fund, what’s holding you back from following your dream? Set the wheels in motion and gear up to start executing your trip plan right away! Remember, a little discipline, a wee bit of creativity and the right investment tactics can make it happen!
Happy Travels Ahead!
