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Ever feel like vacations would be a lot more fun if you weren’t worried about the money? The cost of getting to your destination and staying at a comfortable place is plenty, but then you layer on meals, activities, and cab fare. Pulling out that credit card over and over can end up overshadowing what was supposed to be a break from your day-to-day reality. And it feels almost cruel: Taking time off is critical for your mental health, yet coming home to a mile-long credit card bill is pretty darn stressful. Thankfully, it doesn’t have to be: Whether you're headed to the beach, the mountains, or a new city, a few simple strategies can help you spend less and enjoy more. Here are five ways to stretch a buck on vacation — without missing out. 1. Plan your meals ahead. We all know the feeling: You’ve been walking around a new city all day and you’re so hungry you stop at the first decent place you find. It’s only natural, but it’s not always the smartest financial decision. (Plus, you might end up disappointed by a tourist trap.)• Before you set out, do a little extra research to identify budget-friendly restaurants with good reviews. Then save them on a map app, like Google Maps.
• Avoid eating at a restaurant for every meal. That doesn’t necessarily mean you need to cook. Even if you don’t have access to a kitchen or fridge, exploring a grocery store or street market can be a fun and affordable way to stay fueled. (Picnic, anyone?)
• Pack a reusable water bottle and snacks so you don’t waste money on overpriced options near tourist sites. (We’re looking at you, $5 Dasanis). 2. Make public transit part of the adventure. After a long flight, you might opt for taking a cab from the airport. But once you’re settled, make the train, bus, or ferry (or even a rental bike!) part of the fun. In addition to saving money, you’ll be able to experience a new place more like a local, and could even make a new friend sitting next to you. 3. Turn budgeting into a game. Finding creative ways to stretch a dollar doesn’t have to be a drag. Give yourself a daily spending limit and challenge yourself to stick to it. You’ll feel like a winner each time you find a great bargain on a meal, activity, or souvenir. (Pro tip: Make a custom “vacation” tag in the free SoFi Relay budgeting app to help you track your spending.) 4. Free yourself with freebies — and maybe make a fun memory too. Up the ante on your thriftiness challenge by seeing how much you can get for free. Sometimes the most fun and relaxing activities don’t cost a thing, and a good time is truly priceless.
• Some museums don’t charge admission, and there are plenty of great parks and free walking tours.
• Explore online “free lists” for your vacation spot to find a concert in the park, a comedy show, or a rooftop yoga class. Or maybe explore an old train station or find a live TV taping.
• If there’s a need for volunteers in the area you’re visiting, it can be very rewarding to give back — and a great substitute for an expensive activity. 5. Avoid foreign transaction fees and airport exchange rates. Paying extra to use your credit card or exchange currency is a pure waste of money. Before you go abroad:
• Make sure you have a credit card that doesn’t charge foreign transaction fees, which are often around 3% of whatever you spend. (If you don’t, there are plenty out there with no annual fee.) Then only use that card, since these fees can quickly add up.
• Order cash in the local currency from your bank. It’s not uncommon to see airport exchanges charging 14% more than the International Monetary Fund exchange rate, according to NerdWallet.
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