Australians love to travel. We love tropical beaches and historical sites. We love climbing mountains and Contiki. We love finding other Australians and asking them, ‘Are you Australian?’
Returning to everyday life after an overseas adventure can be hard enough, but it’s even more challenging if you find yourself strapped for cash – or worse, facing a burden of holiday-induced debt. Here’s five ways you can keep your budget in shape while satisfying your wanderlust.
1. Save on your trip by planning (and paying) in advance.
Airfares, train or bus tickets and accommodation are often cheaper when paid for in advance. Early bird discounts could save you a small fortune, and you might be able to find coupons or special offers when you have the luxury of time. That means more left over for buying every mouse-ear variation at the happiest place on Earth. Make sure you’re committed to dates and places, though – cheaper pre-paid options also tend to be less flexible.
2. Set a daily spending limit.
There are so many ways to spend money when you’re travelling: historic places, floating bars and souvenirs with googly eyes. The last thing you want to do is arrive at Angkor Wat and realise your pockets are empty.
Fewer than half of us plan a daily spending allowance, but saving for a holiday is so much easier when you work this out ahead of time. Be clear about what you can afford. Go online to find things like ticket costs, local food prices and any extra taxes you might be up for once you arrive. Work backwards from the sights you absolutely cannot miss, if that makes it easier.
Setting a daily limit might mean having to choose between skyline views from the Eiffel Tower and eating at the Boulangerie Moderne from Emily in Paris – but at least you’ll know there’s enough left for tomorrow.
3. Find cheap holiday tips online before you go.
The internet is full of info about where you should go and what it might cost. Whether it’s a chairlift in Chile or Xiao Long Bao in Shanghai, you can find out the best route to take, and what you’ll likely be spending from the comfort of your living room.
TikTok can be the perfect resource for hyper-local advice on places you plan to visit, especially if you’re going somewhere a little off the beaten track.
4. Have a plan for when you get home.
It can take time to get back into the swing of real life – and we don’t just mean adjusting to the cold snap when you return from Bali in the dead of winter. Holidays can really throw out your usual expenses, too. Bills might have accumulated since you’ve been away, or your salary might take a hit for any unpaid leave during your overseas jaunt. So, make a plan to combat this before you board the plane. While you’re saving for your trip, squirrel some extra savings away for a safety net when you get home.
5. Avoid hidden fees with ME.
It's worth looking at extra fees and charges you might be up for when travelling overseas, like foreign currency conversion and international roaming for phone and data. Lucky for ME (and you) our SpendME card has no international transaction fees, so you can say adios and au revoir to foreign transaction fees when you spend or withdraw cash overseas.
Look – we can’t guarantee you won’t return with the post-holiday blues – but they say the best solution is to have something else to look forward to. So, if you take our tips on board, you might return to a better financial position than you first thought. And we hear there’s a sale on for your next destination...
Ditch international fees for good with ME.
Say adios, arrivederci and au revoir to international transaction fees when you travel abroad with SpendME. That means not getting slugged with extra charges for purchases made overseas. Save those dollars, dong and dineros for your holiday!
Get started
This article is prepared based on general information. It does not take into account individual financial objectives or needs and is not financial product advice.