Wednesday, June 28, 2017

5 Tips to Save Money While Traveling Abroad

At your trustworthy local bank at the Lake of the Ozarks, we care about your savings. Traveling abroad can be costly but there are certain measures you can take that will save you money. In this blog, First Bank of the Lake will give 5 tips to save money while traveling abroad.

1. Choose your airfare carefully.

The cost of an airplane ticket will vary based on the time of the year and day of the week. You can typically find cheaper flights that depart on a Thursday and return on a Monday. In the travel industry, you can also find periods referred to as "shoulder periods," which are basically "off peak" times. For example, in September when kids go back to school, early January after most travelers get back home after the holidays, or early April just when spring break has ended. Airlines are known to offer large discounts during these times. Travel experts recommend buying your ticket 50-100 days before your departure. Don't forget-bring your own airport snacks and refillable water bottle. This will save you money as well.

2. Choose your lodging wisely.

If you are traveling with adults only, a hostel is always cost effective. If you are with your family however, consider a vacation rental over a hotel. While the pricing may be similar, you will have more space and a kitchen to cook your meals in. Be sure to stay near a bus stop or train line, this will help you avoid paying for a taxi. Also, if you are traveling during the off season, consider many hotels will be offering large discounts that would make them worth trying.

3. Be mindful of your food choices.

Eating out a lot can add up quick! Consider your options. 
  • Try a cafe' or a street vendor over a fine dining restaurant. 
  • Pick up supplies at a local grocery store to cook at your vacation rental.
  • Stop by a farmers market and gather fresh fruits, veggies, meats, cheese and other local specialties and have a picnic at a local park.
What better way to immerse yourself in the culture than to explore local cuisine! Also note, that restaurants near tourist attractions are typically more expensive and not as good. Try to stick to the "6 block rule." If you walk 6 blocks from the attraction, you can most likely find better food at a cheaper price. 

4. Take advantage of the FREE entertainment.

Almost everywhere you travel too has free entertainment options. Just ask the concierge at your hotel or stop a local one if you happen to be staying in a vacation rental or elsewhere. Most cities will offer tourism deals that will get you into many attractions at 1 price. This will stretch your sightseeing dollars. These deals usually come with free transportation too.

5. Know your options when shopping for and communicating with loved ones back home.

Be mindful when shopping in a foreign place. Don't buy anything you can buy at home. Visit local markets and find one-of-a-kind souvenirs. Typically, you find cheaper prices when doing so. Tour pamphlets, restaurant menus, maps, postcards, magnets, museum tickets and coasters are great for scrapbooking and gifts! 

Use free apps when communicating with loved ones back home. Plan ahead and download them before you leave and be sure your loved ones have them too. Also, check with your carrier and see if they offer a special, temporary package you can use during your travels.

We hope these tips help you save money on your future adventures. Our friendly banking staff at the Lake of the Ozarks wishes you safety and lots of fun while traveling abroad.

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First Bank of the Lake - Striving For Excellence
Member FDIC. Equal Housing Lender.

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

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