How to make your holiday more affordable

If you've only got a minute:

• Map out your trip itinerary, set a realistic budget, and be mindful of your spending.
• Determine the priorities for your trip and plan your budget accordingly.
• Consider travelling during shoulder season or exploring less visited destinations for a more affordable and rewarding experience.
• Choose budget-friendly options for your accommodation, transportation, and dining.

Travelling is a wonderful way to open our eyes to new cultures and experiences, but it can also come with a hefty price tag. Fortunately, with some strategic planning, you can stretch your travel budget and make the most of your trip.

Here are some tips to help you travel more affordably without compromising on the fun!

Pre-trip

First, decide on your destination. What kind of holiday do you envision, and how long will you be gone? This will largely set the tone for your budget – after all, a 3-day retreat to Bintan will not cost the same as a 10-day shopping and culinary trip to Italy.

With that in mind, you can start doing your research and planning your budget. Decide on your budget for each key area: airfare, accommodation, transport, activities, and food. Understanding your priorities and knowing what tradeoffs you are willing to make will help you decide how best to allocate your funds.

For example, if you’re a light sleeper, you may be willing to pay more for a daytime flight instead of a red-eye flight, then balance out your budget by choosing a cheaper accommodation or meals on your trip.

On the other hand, a passionate foodie might allocate a larger part of the holiday budget to exploring culinary delights and opt to travel during shoulder season (the period that falls between peak and off-peak seasons) instead to save on flights and accommodation.  

When booking flights and accommodation, make use of travel aggregators to compare travel offers across multiple sources. DBS Travel & Leisure Marketplace allows you to do just that, while offering attractive perks and offers curated specially for DBS/POSB cardmembers.

Here are 8 considerations to keep in mind while planning your holiday.

Read more: Maximise miles and points for your next holiday

Itinerary

When it comes to your itinerary, the same concept applies – a little planning can make a big difference.

Identify the attractions which are a must-see for you and check their costs.

Do research beforehand to find out if there are any free activities or discounts available. For ticketed attractions, booking tickets online can help you avoid potentially long queues, and sometimes offer early-bird deals or lower prices.

Grouping your activities in the same area on the same day will make your travel between them more efficient.

Knowing your itinerary also allows you to pack smartly for your activities, avoiding unnecessary items and heavy luggage. This not only saves on excess baggage fees but also makes travelling by public transport much easier.

Here are some ideas to consider when filling in your itinerary.

Read more: 5 travel tips for an amazing holiday

Accommodation and transportation

When choosing your accommodation, consider what matters most to you: comfort, cleanliness, safety, amenities, cost, or proximity to the city centre. Do you crave bustling urban energy or a peaceful retreat further out?

Once you have decided where to stay, you can then easily figure out the best way to get around.

Accommodation

The longer your trip, the further even seemingly small savings per night goes.

If you prefer staying in a nice hotel, explore loyalty programs or booking sites that offer cashback or reward points for extra savings.

For the budget-conscious travellers, hostels, homestays, Airbnb, vacation rentals, couch-surfing, or staying with a friend (where possible) can be fantastic options. Staying slightly further from the city is often cheaper too.

As for the nature lovers, camping offers a chance to connect with nature and explore local landscapes. Camping costs can vary depending on the location, amenities, season, and whether you want to jazz it up by jumping on the “glamping” bandwagon.

Once again, be sure to do your research to compare different options which suit your needs and budget.

Transportation

Embrace the local sights and save money by walking, cycling, or taking public transport – these eco-friendly options may even lead you to hidden gems you might miss while travelling in a car. Exploring the city on foot or bike is also a fun way to stay active and work off those holiday calories.

When travelling from the airport to the city, there are always affordable public transport options to consider. In Seoul, for example, a train or bus ride to the city centre can cost as little as 4,150 Korean won (KRW), compared to a taxi fare that can easily exceed KRW40,000.

If you’re moving from city to city, consider making it a road trip out as you get to explore new sights and places along the way. For groups, splitting the car rental cost is especially cost effective compared to flying.

Before you go, familiarise yourself with local traffic laws and driving license requirements, and remember to factor in fuel and parking costs into your budget.

Food and shopping

Unless you are on a culinary quest, skip the fancy restaurants!

Instead, do your research (or even better, chat with some locals) to find out which tourist traps to avoid and where the locals dine. This way you can save money and enjoy authentic local flavours.

If you’re staying in a place that comes with a kitchen, consider whipping up some meals yourself. Local markets are an excellent source for fresh produce and ingredients, and you might even find unique local gifts at a better price than malls or tourist shops.

Convenience stores and supermarkets offer a variety of affordable, ready-to-eat options like sandwiches, salads, and pre-packaged meals. Don’t forget to keep an eye out for discounts on perishable items, especially near closing time.

In summary

Travelling doesn't have to cost a fortune!

Be mindful of your spending, understand what tradeoffs you are willing to make, and find a balance that works for you. The goal is to end your trip feeling happy and refreshed, not stressed about every cent.

With some planning and flexibility, you can enjoy your well-deserved break to the fullest, while staying within your budget.

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Source:
Visit Seoul Net, “Getting to Seoul”, retrieved 19 Sep 2024.

Disclaimers and Important Notice
This article is meant for information only and should not be relied upon as financial advice. Before making any decision to buy, sell or hold any investment or insurance product, you should seek advice from a financial adviser regarding its suitability.