Being a medical student is tough!
All you need is a holiday to escape from the stress and rejuvenate.
The upside is that as a university student, you have more time off than most.
The downside is that you may have less money to spend.
Here are some tips on how to budget travel without completely blowing your bank account.
Whilst the temptation to look ‘insta’ worthy in your vacay pics can encourage you to pack to your maximum limit; the more stuff you have to drag around in your luggage, the harder it is to jump on and off boats, buses or trains, which is obviously a far cheaper way to travel than taxis or ubers.
Another thing to keep in mind is it’s worth limiting what you buy while on your travels.
It’s fun to buy souvenirs and gifts, but you need to make sure that your luggage doesn’t become too bulky on your travels, as you might end up paying additional fees, which is not what you want to be spending your holiday money on.
Eat with the locals
One of the best things about travelling is trying different foods.
Rather than eating in expensive touristy areas, it’s worth finding out where the locals prefer to eat, as meals at these places are not only likely to be tasty, but also reasonable in price. It’s also a good way to meet people in the community and get a glimpse of their culture.
Avoid peak season
This is an obvious one, but it must be mentioned as it can make a huge difference in cost.
Of course, during holiday times, the price of accommodation and airfares usually skyrocket. So, if you can plan your travels for outside of these dates, you’ll likely find yourself saving a huge amount.
Some tourist attractions waive the admission fee during certain days and hours. If possible, take advantage of this as you’ll be surprised at how quickly these add up.
Do your research
Sometimes airlines offer holiday packages, deals and sales, so keep an eye on those too.
Reading travel blogs and forums might also give you some handy tips for how to make your money stretch that bit further.
Apply for an International Student Identity Card [ISIC]
All full-time students are eligible for an ISIC.
Investing in this card gives you access to thousands of discounts in Australia and many different countries around the world.
This includes museums, attractions and up to 40% off certain international flights with STA Travel.
So it’s definitely a great way to save some money while travelling.
If you’re jet-setting overseas, be sure to find out from your bank what the ATM fees and the debit/credit card usage policies are in other countries.
This will give you an idea of what money you’ll be up for.
Also check the exchange rate of the country/countries you’re going to and consider whether it would be worth getting a travel card.
Stay in hostels
While hotels tend to be more comfortable and luxurious than hostels, they’re also a lot more expensive.
Hostels can be a great way to meet other travelers, but it’s important to ensure your bags are securely locked.
Also, avoid letting the hostel know your arrival time, as you can lose your room if you’re late and you won’t be able to get your deposit back.
Going on holidays can be really restorative and give you the little recharge you need to get back into your studies.
Keeping in mind simple money-saving tips will mean that when you return home from your holiday, you won’t be forced to live on two- minute noodles while desperately trying to get yourself out of debt.
* The information contained in this site is general and is not intended to serve as advice. DPM Financial Services Group recommends you obtain advice concerning specific matters before making a decision.