6 Money Saving Tips for Travelling Abroad - Kotak Bank
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They’re everywhere — these advertisements for your next international vacation. You see them on billboards, you see them in your email inbox, and even on paid promotions on your social media feed. Well, if you have given in to the temptation and are keen on planning a foreign vacation, let’s begin with a quick congratulatory note.


But once that decision to travel abroad has been made, it’s time for the next step — financial planning for that foreign vacation. With many countries opening up to travellers after a placid couple of years, the prices of flight tickets, visa and accommodation can be quite steep when you combine it all together.


That said, there are many tips and tricks to make your international trip more pocket-friendly. Want to know more about this? Well, let’s take a closer look at some ways to save money on your foreign vacation.


1.  Find the right time to visit your destination

Every country has an off season, a shoulder season and a peak season. Peak season may be the best time to visit a place weather-wise, but it could be extremely expensive. Furthermore, you’ll also have to deal with crowded attractions and a mass of tourists. Off season is extremely easy on your finances, but the weather may not be great.


Shoulder season months give you the best of both worlds — your trip may be more affordable, and you can also visit most of the places in your destination. So, choose the right time to travel abroad to save some money in the process.


2.  Do a bit of research about your destination

Take some to understand the finer details of the country you are travelling to. Get to know the kind of accommodation that your destination offers. Find out if the country has a good network of local public transportation, so you can get around more easily and on a budget. Check if you can rent a motorcycle or a car for pocket-friendly prices.


Doing your own research before going abroad gives you a better idea of what’s expensive and what’s affordable in the country you are planning to visit. This will help you plan your finances accordingly, so you are not caught off guard by the prices.


3.  Prepare a budget

Once you have done your research, you will be better equipped to prepare a budget for your vacation. And a budget is essential — perhaps even crucial — because it helps you understand how much money you need to set aside for various expenses on your vacation. You can start off by first figuring out how much you can afford to spend on your trip.


Then, assign some of the total budget to each kind of expense like the flight tickets, your accommodation, your meals, and the various sightseeing spots and activities. Set a maximum limit for each expense head and try not to spend more than that amount.


4.  Book your tickets and accommodation in advance

Booking your flight tickets too close to the travel date can be a costly mistake. You rarely get good prices at the last minute, and you may end up spending more than you want to. The same goes for accommodation too. Once you have decided when you want to schedule your trip, the first things you should book are your flights and your stay.


This can help you get some good prices in both these areas. And you can use the money saved to enjoy your vacation in other ways, like eating at an exotic place or adding another day to your itinerary.


5.  Look for discounts and offers

If you are booking online on aggregator sites, you may occasionally come across offers or discounts for certain destinations or stays. Look for such deals before you finalise your dates and your hotel. Similarly, check for any rewards you may have earned from shopping online or from your UPI apps.


With these deals and discounts, you may be able to knock off a few thousands from your ticket costs or your accommodation prices. This can help make your foreign vacation more budget-friendly.


6.  Use your credit card miles

If you are a credit card holder, you might want to check your accumulated rewards before planning your international trip. Some credit cards give you miles as rewards for spending. If you hold one such card, you may have accumulated a fair bit of these rewards over time. You can then redeem your miles to pay for your flight tickets.


Check if this works for the destination of your choice, and redeem your miles to make the cost of travel more pocket-friendly. You may even have other rewards accumulated on your credit card, which you can use to cut down some of the expenses on your foreign trip.



While you may not be able to implement every one of these tips and tricks, you can pick the ones that can help you make your next foreign vacation more affordable. Even a couple of these techniques can help you save thousands of rupees without compromising on your experience. And a penny saved is a penny earned, isn’t it? So, you can even make use of these savings to plan another international trip sooner rather than later.

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Disclaimer: This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. The Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Article. The information contained in this Article is sourced from empaneled external experts for the benefit of the customers and it does not constitute legal advice from the Bank. The Bank, its directors, employees and the contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein. Tax laws are subject to amendment from time to time. The above information is for general understanding and reference. This is not legal advice or tax advice, and users are advised to consult their tax advisors before making any decision or taking any action.