Travel Budgeting: When to Save, When to Splurge

There’s nothing like traveling to release all that tension and stress out of your life. Apart from helping you to cool off, traveling also teaches you survival skills, management skill, and makes you become more independent and open minded.

The only downside to traveling is the amount of money you have to fork out. From the moment you decide to go on a holiday, every subsequent step requires money; like booking flight tickets, getting a nice hotel, getting around, shopping, souvenirs, and so on.

So, how you do make sure you can go on a holiday and get back without a negative balance in your bank account? Should you be extremely frugal and thrifty? Do you have to give up on all the nice, pretty things? Should you stay at a motel or hostel instead?

Here are 6 ways you can work out your travel budget, with tips on when to splurge or save, so that you can get the best of out of your trip!




When it comes to hotel booking, we recommend that you go between save and splurge.You don’t want to get something that is too expensive since you’re just staying the night; and you don’t want to spend the night in a motel where it can be unsafe and dodgy and you won’t be able to get a good night’s sleep because you’re constantly worrying about your safety and your belongings. There are few things you want to consider when booking a hotel. First one is amenities. You want to make sure they have hot shower, wifi in the rooms, a safety box where you can keep all your valuables like your passport and your cash. Then you want to make sure that the location is strategic, that the tourist spots are easily accessible. Make sure to also check that they have a 24-hour security so you can sleep peacefully without worrying about anything. 

However, if you’re already familiar with the place, and familiar with how to get around, then you can save up by staying out of the hot spots. This is because city-center hotels can get pretty expensive. Additionally, hotels do have special discounts for online booking do take note of their promotion codes as you comb through the countless hotel booking websites online.



If you are travelling with a big family or with kids especially, you might want to splurge on a big comfortable room. That way you get more space for your loved ones (and kids to run around) breathing room and your luggage among other things. Even then, you can still save up with online booking.



Definitely save!

When you stay at the city centre, the attractions are easily accessible via trams, trains, buses, or maybe they are just within walking distance, so that way you can save a lot of money on transportation. Always try to use public transport as much as possible and check the fares with locals before you hail a cab. Ensure they charge by the meter so as to prevent getting ripped off by drivers. Alternatively, you can also check for the availability of Uber or Grab services in the city.




Did you know that Warren Buffett, one of the richest man in the world, travels economy? In fact, most billionaires do. Most of airlines provide an impeccable service for the economy class, with sufficient legroom, comfort kits, and meals. So even if you’re traveling halfway across the world in a long haul flight, you can save a tonne of money by flying economy.

Airlines also constantly have promotions, so be sure to log into their website every half an hour to make sure you don’t miss out on special deals. Some airlines also offer packages, where you can book your flight and hotel for a good deal.



Save and Splurge

When you visit a new city, there will always be some must-try dishes, and food is something you cannot compromise on! But you can choose wisely. Visit local markets and diners to get a more budget friendly and authentic meal. Fancy restaurants may serve impeccable meals, but the experience is not the same as eating in family-owned restaurant. So feel free to mix and match. Perhaps you can save on breakfast and splurge for lunch. If you’re going out for a big dinner, you can have a smaller portion for lunch to save your stomach for later.




With travel website like Trip Advisor, you really don’t need to book a private guide when going on tours. If your hotel location is strategically located, most of these tourist attractions should only be a stone’s throw away.

But if you plan to venture beyond the tourists spots, perhaps somewhere in the outskirts for a more adventurous experience, then you will probably require a guide. Even then, you can save up by booking group trips instead of a private tour. It’s more fun that way too, as you get to meet more people and hear more exciting stories. Perfect if you are looking for an adventure!




Most souvenirs just end up collecting dust on someone’s desk, or go missing after a while. If you’re buying for someone special, then feel free to splurge, otherwise there are plenty of souvenirs that come in bulk at a great price.


Getting excited for your next trip? Before you head overseas, ensure you make the necessary preparations with our ultimate travel packlist.

Visit for all your travel accessories and essentials!

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