Travelling around the world – How to save on travel, accommodations and insurance!

 

Taking a trip around the world? Here are some tips to set out on a long-winded journey – without breaking your budget.

Most of us cooped up in our workstations and cubicles let our minds wonder about what it would be like to pack up our stuff and spend a few months traveling around the world. Sadly, for most of us, it is a mere pipe dream as we are tied down to the ground reality with family obligations, umpteen bills, deadlines at work and most of all the sheer potential expense of a world tour. However, if you can spare the time but do not have the money, here are a few things you can do to be able to afford a long-term trip.

Here we discuss a few ways that range from long-term financial management as well as some practical advice on spending.

Maximum Savings on Flights & Accommodations

You should start buying plane tickets and booking accommodations a few months ahead of your trip. As a thumb rule, airfare is the cheapest 3 months before departure. In addition, you can also opt for tickets for round the world (RTW) travel. Unlike airfare for traditional roundtrips, RTW tickets provide for stops at multiple destinations and are cost effective even when booked through a third party.

Choosing destinations that are conveniently located near other places you want to visit can allow you to minimize travel costs by utilizing cheaper transport options like trains or buses on the ground. However, you would do well to make such arrangements well in advance as last minute bookings can turn substantially expensive.

Accommodations on the other hand, depend on seasons, rather than how early you book them. Thus, it makes sense to plan your trip by scheduling visits to countries in their shoulder or off-seasons to benefit from cheaper hotel rates. You can also save as much as 20% by staying at Airbnbs or hostels.

Investing in Proper Protection

Once you have your itinerary planned out and know the countries you’ll be visiting, you should get as much insurance protection as possible. You should automatically look into getting a travel insurance policy to avoid excess spending on lost baggage or medical emergencies.

Most single trip insurance policies last up to 6 months and can be a good option. An annual insurance policy on the other hand will cover you for a max trip length of 90 days in a row. This can be beneficial if you travel often for work and are planning on only a 3 month or less worldwide trip.

You should consider international health insurance if going on longer trips beyond the cover for travel insurance plans. Note that international health insurance won’t cover you in case of travel emergencies such as lost baggage or trip cancellations. Ensure that you check the terms and conditions to see which countries are not covered and the maximum allowable trip duration.

Getting vaccinations done before the trip can be very much cost effective than having to end up getting treatment abroad.