“The world is a book, and those who do not travel read only a page.” ~ Saint Augustine
Maybe you love the adventure and thrill of mountain climbing in the Himalayas in India or Nepal, or perhaps you see yourself skydiving or bungee jumping off a reef in Australia or New Zealand. Or perhaps you are seeking to find that special someone in the romantic city of Venice, or Paris. Are you planning an intellectual sojourn to the historical cities of Rome or Istanbul to learn about their art and culture? Or maybe it’s a combination of all of them? Choosing a destination that’s not very expensive to reach, is safe, affordable and full of promise, will help you stretch your travel rupees to the maximum.
Using fixed deposits or parking a portion of your monthly savings in mutual funds to meet your travel goals is also an extremely savvy financial strategy to follow. And by traveling in the off-peak season you can get better ticket prices if you book weeks in advance - package deals by combining travel, hotels, food and can save you a lot of money too.
If you consider travel as your primary goal and not just the destination, being on a budget does not mean you scrimp while going on a trip. It's important to make a travel budget that covers everything - transportation, insurance, accommodation, food, entertainment activities, shopping for souvenirs - before embarking on a trip. Estimate the cost of your trip by starting with the large expenses and then work your way down. You could consider an overdraft on your fixed deposits to finance this.
If you are flying solo, the first thought to cross your mind may be about being alone in a new place in a hotel room. It’s best to be alone indoors in a homestay or vacation rental to get the feel of family and familiarity plus it's so much easier on the pocket. If you still prefer to stay in a hotel, many hospitality chains have loyalty clubs or other discount programs that you can take advantage of when you make a reservation.
The Internet and mobile have changed the way travelers plan and experience their trips. Smartphones are not just for those 'selfie' moments anymore but are being used to research, book, seek directions, for in-destination planning - they are the new travel concierge. If you are traveling to an urban area you may be able to get reasonably priced city passes, deals on public transportation or on ride-hailing apps like Grab or Uber.
Adding visits to local museums, free concerts, walks, or other low-cost activities to your itinerary can make your trip more entertaining and give you a chance to explore the city by walking around. You can explore thousands of unique travel experiences hosted by locals in almost every city in the world or buy tickets to events by looking for them online on platforms like Airbnb or Klook - food tours, history walks, cooking or music classes, Broadway shows - and they are less expensive, if you buy them in advance.
Even if you’re on a budget, travel needs funds. It’s best to put away money in recurring fixed deposits or in mutual funds that offer easy SIP options, so that you’re not short on funds when you travel.
