Last updated on April 27th, 2025
Everyone wants to travel the world someday. Most people dream of it, traveling to a distant place alone or with loved ones. Traveling can be very fun, but beyond that, it is a wonderful teacher! It teaches you about distant cultures and geographies and more importantly, teaches you about yourself. As research has proven, travel makes you a good thinker too.
But regardless of its many benefits, traveling is a relatively expensive endeavor that most people believe they can’t afford. From airfare to lodging to food to transportation and other activities, costs can quickly spiral. Thus, though people might be inclined to go see a new place every once in a while, the cost is always a source of concern.
But you need not be discouraged. With the right attitude, you can make your traveling dreams possible. And you have come to the right place: this article will explore a few tips for traveling on a budget.
Bankroll Management: The Lesson From Poker
First, you need to learn the skill of bankroll management. For this, you need to think like an expert poker player. Bankroll management is an important poker strategy that prevents the best players from going broke and extends their ability to keep playing.
Similarly, you want to protect your travel bankroll so you can fund more trips over time. You should budget carefully and ensure not to splurge on needless luxuries. Like a poker bankroll, your travel budget is supposed to help you get going for as long as possible.
Poker experts know that going all-in on one or two big pots could wipe them out, so instead, they bet small amounts per hand to minimize risk. This lets them endure natural variance and play many hands over time without going broke.
You should view your travel budget the same way. Decide how much money you want to set aside for the year for travel, then divide that into sensible per-trip budgets. Make sure you have enough set aside for your daily needs like food, transportation, and accommodations. Don’t blow half your budget on one luxury hotel. This bankroll management mentality will let you travel indefinitely.
Plan Way Ahead
Another key to maximizing your travel while minimizing spending is planning and booking way in advance whenever possible. Last-minute airfare and hotel deals almost always cost more, sometimes significantly. Airlines and hotels reward those who book early with the lowest rates.
For flights, watch fare sales and try to book 6 – 12 months in advance if you can. Sign up for mailings from airlines and sites like Scott’s Cheap Flights that alert you to deals and mistake fares for your target destinations. Use Google Flights to set price alerts and find the best times to fly.
For lodging, book during the low season when demand is less. Boutique hotels often run weekly or monthly sales, so check frequently for deals. And consider alternatives like hostels, vacation rentals, home shares, etc., that are often much cheaper than hotels.
Don’t Be Scared to Take a Walk
Another sure way to save money when traveling is to take your walking shoes out! Not only is it a good way of exercising the body, but it also gives you a more grounded experience and opens you up to the possibility of a pleasant surprise. You could stumble upon a local wonder!
By walking, you also avoid spending money on cabs, Ubers, tourist buses and other transport. And if you do get tired or want to cover more ground, public transit like buses and subways are drastically cheaper than taxis and tours.
Dine Like the Locals
One big budget vacuum while traveling is food costs, especially in heavily touristy areas. Restaurants, bars, and cafes catering to tourists jack up prices significantly. While splurging on occasion is nice, you can save a bundle by eating where the locals eat.
Search sites like Yelp, TripAdvisor, and social media for highly rated but less touristy restaurants in your destination. Ask hotel staff or friendly locals where they like to dine. Explore side streets and neighborhoods away from major tourist zones. You’ll find excellent food at a fraction of the cost.
Dining like a local will give you a true taste of the region, save you money, and let you dine at times and places of your choosing. Slow down, relax over an affordable meal, and soak up the atmosphere.
To Wrap Up
Traveling the world frequently and affordably is possible through strategic budgeting, planning ahead, and making thrifty choices on the ground. View your travel fund like a poker bankroll meant to last. Book flights and hotels well in advance and use alternative lodging.
With the right mindset and smart decisions, you can have the extensive wanderlust experiences of your dreams without going broke. So get excited, start a travel fund, set those flight alerts, and get ready to have the trip of a lifetime, the first of many more to come!
