If you travel with a mindset that you need to buy everything from souvenir fridge magnets to designer bags, you will come home broke! While it is true that the bulk of the family travel savings is done before you leave home (by securing great flights and accommodation deals), you can still save money while on holiday by making a few small adjustments.
Decide as a family what you want to spend money on. Some prefer to save on flights so they can spend more on nice meals. Others don’t mind budget hotels to have more money for shopping. Every family will be different, set your own priorities.
Do your family travel budgeting BEFORE leaving home. Don’t set arbitrary spending goals like: “I only want to spend $100 per day” once you arrived at your holiday destination. Each destination will be unique and your budget might not be realistic. It will be unfair for your family to end up doing nothing just because you consider everything is too expensive.
Here are 11 best tips to Save Money during your next family travel:
1. Many bucket list places are FREE to visit
Yes that’s right, many must visit places around the world will cost your family absolutely nothing to visit. From strolling along Shanghai Bund, wandering around Venice, relaxing in Sri Lanka’s best beaches or taking in Grand Place in Brussels, they are all absolutely free to enjoy. Some cities like London will have endless free attractions and events to keep your family entertained for weeks!
Parents often forget to keep things simple. Children can have much more fun running around a park rather than going to more expensive attractions.
2. Prepay everything
Before leaving for your family holiday you are likely to have already paid for flights and accommodation. In most destinations you can also prepay for things like show tickets, day tours and entry to sights.
Many places will even offer online advance booking discounts. A great example of this is when we visited Disneyworld in Orlando. Disneyworld allowed us to prepay everything from hotels, park tickets, transport and even lunch meals during our 5 days stay. Not only we got to minimise time lining up buying tickets, we knew exactly how much we were going to spend.
3. Save money on meals
While we are not foodies, enjoying local foods is often one of the important things to do when going on a family holiday. For the sake of saving a few dollars, don’t fly halfway around the world to eat the same boring food you eat everyday at home.
The most important (and simple) tip is to NEVER eat at tourist spots. Instead, do a bit of exploring. Go a few streets away from the major tourist areas. The food on offer will be much more authentic and not to mention reasonably priced. For example when we visited Florence, we came across Trattoria Za Za. A restaurant offering delicious authentic Italian meals, filled with locals at around half the price when compared to restaurants in the main drag.
Additional Tips:
- Take advantage of lunch specials. Consider having nicer meals for lunch instead of dinner. This will help you save money in many places. For example in Spain most restaurants will offer “Menu del Dia”. The menu is usually a three course meal at a very reasonable price.
- If your accommodation has kitchen facilities and you don’t feel like eating out, buy precooked meals from local supermarkets. In England, a friend introduced us to the wonderful world of ready made meals from Marks & Spencer. All you have to do is heat it up!
- Ever noticed how much do you spend on bottle water during a family holiday? Invest in a good water bottle and refill throughout the day.
4. Avoid expensive Phone roaming charges
Avoid expensive mobile phone roaming charges. Take advantage of Free Wi-Fi that is available just about everywhere. Use apps such as Whatsapp for messaging and phone calls. If you still need mobile roaming, Vodafone Australia charges $5 per day. You won’t be charged on days you don’t use your device.
5. Bring a good ATM Savings & Credit card
Days of bringing excessive cash for exchange later at your family holiday destination are long gone. Not only that it will cost more, it is also unsafe!
Instead, open a savings bank account which allows you to make ATM cash withdrawal overseas (usually using Mastercard or Visa network). We typically make one or two ATM withdrawals during a trip, carrying minimal cash in between.
Using your credit card overseas will usually attract an overseas transaction fees and exchange rate conversion fees. Pick a credit card which charge the lowest possible fees or one that offer a good reward programs which can help pay for your next family holiday.
Notes:
- Don’t exchange money at airports where rates are more expensive.
- Travel money cards offers good exchange rates and you can lock in good exchange rates in advance. But there are many fees you have to watch out for. For example: card purchase fees, loading fees, reloading fees, transaction fees, ATM fees, negative balance fees and account closure fees.
- For credit card purchases always pay using local currency and not your own. The exchange rates are more expensive.
6. Minimise Taxi rides
In countries like Singapore, Vietnam and China taxis are very reasonable, but in most places they just cost too much! Don’t use them unless your family is visiting a place that is far away or not serviced by public transport. Instead ride on the bus, underground metro or tram which can be a unique local experience children can enjoy! Most major cities will provide discounted daily or weekly transport pass.
7. Buy intercity transport tickets directly from operator
Buy direct from operator office or websites and not from third party agencies.
8. Visit grocery store or local markets
Restock family necessities like water, fruits or snacks. Also buy any children essentials such as wet wipes and nappies. Don’t touch that hotel mini bar!
9. Get a City Pass or Voucher Book
These City Passes will allow your family to save money and enter many commonly visited tourist attractions for a discounted fix price. You will be able to visit the attractions in any order, at your own pace, even enabling your family to skip ticket lines in some places. Make sure attractions your family want to visit are included. These passes can also include discount vouchers for shops, restaurants and tours.
10. Take advantage of any tax refunds
Make sure you follow the correct procedures claiming any tourist tax refunds. At the same time don’t let tax refunds become the cause for your family to overspend.
11. Self-control
“I’m going to buy everything!” Travel with this mindset and it will be years before you can go on another holiday. Consider spending your money on family experiences as opposed to a designer bag that will be out of season in a year time.
