Tag Archives: Frugal Vacation

8 Easy Tips for Saving Money for Travel

Budgeting, Vacationing in Retirement,

This  post was contributed to Leisure Freak by Aatish Khanna of Money Club. Bringing some timely tips for navigating these financially challenging times to those who dream of travel.

Travelling to beautiful European villages and the world’s most beautiful islands is a fantasy most people have but cannot afford. Money is not a limitless resource, and that’s a crushing reality. You may have every intention to travel to your bucket-list destination, but your slim savings doesn’t seem to support your intentions. However, with a little planning and a few lifestyle changes, you can easily save enough to book a fabulous holiday for yourself and your loved ones.

6 Easy Tips for Saving Money for TravelImage Source

Here are a few simple tips for saving money for travelling:

1- Start a dedicated travel fund

Most people use their emergency fund for travel. Your emergency fund is to be accessed only in case of an emergency; travel is a planned event and hence doesn’t qualify for an emergency. So, don’t confuse your emergency fund for the travel fund. Create a separate travel fund and feed it monthly, weekly, or daily.

2- Assess your financial situation

Figure out if your trip is feasible considering your current financial situation. While you’re researching, find out how much airfare, food, accommodations, and other activities will cost. Once you have an overall cost estimate, create a spreadsheet and list down your income vs your expenses to see whether the trip is doable or not.

3- Create a budget

Write down the total estimated cost on your calendar for your intended departure date. Count how many months/weeks you have until your departure. Divide the total cost by the time you have on hand to save. This will give you an estimate of how much you need to save each month/week in order to afford your trip. Once you get the ballpark figure, start saving.

Here are a few money-saving tips that ensure you stick to your budget and save enough to have a trip you have been dreaming of for so long.

4- Slowly eliminate your wants 

Your daily/monthly expense spreadsheet should have two columns: “Needs” and “Wants“. Start eliminating the wants slowly from the things you purchase regularly.

5- Eat out less often 

Trim your food costs by cutting down on the number of times you go out for food. Cook meals at home and stay in at night. Going to bars and clubs at night can easily shatter your travel goals. Instead, invite your friends over. 

6- Sell your unwanted belongings

Consider selling clothes, appliances or any physical possessions that you are not using anymore. Sell them online or trade them in for cash. Eliminating the clutter will provide you with the much-needed cash and also give you a vast amount of mental freedom.

7- Online side hustle 

Consider working part-time on freelancing projects and use your skills to save and earn money. Also, loads of apps allow you to earn money online by doing various easy tasks using your mobile phone. 

8- Buy in bulk

Buying in bulk doesn’t always make sense. But for things you regularly use in the house, buying in bulk is the best way to save money. Things you can buy in bulk include paper towels, butter, soap, laundry detergent, etc.

 

All the above money-saving tips are easy to follow. With determination and a sprinkle of optimism, you can easily save up for your dream trip.

Thank you Aatish Khanna for sharing these 8 easy tips for saving money for travel. 
Author Bio:

Aatish Khanna works with the Content Marketing team at Money ClubAatish Khanna works with the Content Marketing team at Money Club – a digital chit fund platform that makes saving, borrowing, and investing your money more efficient. He writes on topics to help his readers understand processes so they can make better financial decisions. He’s the go-to person that his family, friends, and colleagues turn to for all their money matters. He loves to play board games and aspires to one day build his one finance-related board game and app.

Retirement Travel Budget & Nowhere To Go? Pandemic Daytripper Tips

Vacationing in Retirement, ,

This is certainly the year for the summer day trip. We had a full year of vacation travel scheduled and budgeted for this spring through fall season. Events we attend have been rightfully cancelled. Places we enjoy staying for a week of leisure are partially open but are now COVID-19 hot zones. No thanks. As hotels and restaurants are doing their best to be safe, too much is still unknown. That’s why we have taken to day trips. Our plan is to take at least 2 day trips a month. Here are our pandemic daytripper tips for those who are itching for a little fun while doing your best to be safe.

Retirement Travel Budget & Nowhere To Go? Pandemic Daytripper Tips

 

Pandemic Daytripper Tips For a Little Fun as Safely as Possible

Obviously the safest thing to protect us from the virus is to stay at home in isolation. We have all been doing that and for some of us it’s getting a little old. According to health officials we also should socially distance and wear a mask when in public. Unfortunately not everyone is willing or able to do that. Judging from the massive infection and hospitalization upticks around the country, this virus obviously remains a viable threat.

What we decided is that we can have fun day trips and take necessary precautions to do so without too much viral worry. The pandemic daytripper tips being shared here will hopefully give you ideas of your own to get out of the house and have some feeling of a normal but different travel season.

Pick a destination and do a little research before you travel

How Far To Travel

First thing I did was decide on how far we day trip. I decided for now that we would pick a destination that allowed us to get there and home on a single tank of gas. Roughly a 300 plus mile round trip. So far that has been plenty to get us where we want to go, allow for some casual exploration once there, and get us home with plenty of fuel left to spare.

There are cases of COVID-19 in our county and town but so far very few compared to bigger urban locations. So picking a gas station close to home that’s away from a freeway to fill up is a virus avoidance decision. As always these days, I avoid fueling standing directly in front of someone on the other side of the pump. When I have clorox wipes available I pre wipe the gas handle. If not, I use the paper towels most stations supply as a hand to handle barrier. I then always use hand sanitizer after fueling. I never touch my face until after I get home to thoroughly wash my hands. These are good refueling pandemic daytripper tips if you have to fuel up anywhere, especially in a viral hot spot or heavily trafficked gas station.

Where To Travel To

In our case there are nearby rural and mountain recreational type counties we have spent little to no time in other than driving through them to go somewhere else. We have often seen smaller towns, their exit signs, and other points of interest and thought it would be fun to check them out.

I do a quick online search (XYZ county/city/etc. COVID-19 case numbers) to research their county’s coronavirus numbers and whether there are restrictions in place. Such as mandatory face masks, full closure or limitations of restaurants, etc. so we can be prepared and decide whether we want to visit. I never want to go where I won’t be welcome or have no safe reason to go.

In one destination that we day tripped to they only had one county counted COVID case so it was of little surprise to see not one person in that rural town wearing a face mask. Even so, we did wear ours out of respect when in public because we traveled from somewhere else. Another targeted day trip destination was dropped after reading they had a large spike of cases and some of the infected refused to cooperate with contact tracing efforts. Virus drama I would just rather avoid.

Know Your Route before You Go

Like any road travel it’s best to pre plan your route. I like to go online and check for any major construction zones and even check the weather for where we are headed. I even prefer to see if there are alternate routes so we can go one way and return a different route.

Along with this it’s a good idea to see what towns and rest stops you might pass and any services offered or restricted. Nothing worse than having to go and there’s no place to stop. When we do stop, we prefer stopping at a local grocery where we can also buy a cold beverage or treat, like an ice cream bar on a hot day.

What To See Or Do Once There

Some of the places we go have a point of interest. Others are a gateway to BLM or other outdoor recreation. We have either already heard about it or we do an online search to find out. Others are just in a beautiful place. We go because we have never been there before and want to see it. Other times it’s all about the drive. The destination is just a place to stretch our legs and have lunch. 

Not knowing exactly what we will find in the way of eateries, we pack a small cooler with drinks and lunch. Although there may be cafes or restaurants open, they may hit their safe service capacity.  Aside from that, even as restaurants are doing their best to be safe, we’ve decided that for this travel season we will avoid indoor dining. We do love a nice outdoor spread out seating experience. Especially a food truck parked next to a craft brewery. If we do find our lunch someplace then we just eat our packed lunch for dinner once home. 

One of our pandemic daytripper tips regards going to destinations where we know we will be eating our packed lunch. For example, a mountain lake or hiking trail. We schedule that day for dinner leftovers that evening. That way after a long day having fun on the road we don’t have to worry about a lot of work cooking dinner once home.

Pandemic Daytripper Checklist 

Have a basic tool kit, flat tire essentials, auto maintenance up to date, owners manual, etc. Treat any day trip like you would a normal year’s road trip preparation even though your travel distance is far less. The same kinds of travel mishaps can still occur.

Make sure cell phones are fully charged before leaving. I use a flip phone that holds its charge a long time while my wife’s marvelous smartphone needs daily charging to remain topped off. Nothing worse than finding out when you need your phone for a photo, call, or data search that it’s dead. 

Always have a face mask with you for any public interaction. Even if your destination is remote or there are no plans to leave the car. Bathroom breaks, auto breakdown, an adventurous decision to explore the wonderful creations of a food truck, etc. can put you in close proximity to others.

Carry hand sanitizer and even your favorite sanitizing wipes. Necessary handwashing won’t always be available. We carry small refillable pocket hand sanitizer and also have Clorox wipes in the car for our day trips. 

Make sure to pack food and water or other favorite beverage. Do this even if your plans are to pick something up at your destination. You never know if there are last minute shutdowns or capacity issues. We encountered a convenience store on our first trip that had some out of state licence plates in the parking lot and was full of non-socially distant maskless folks. We decided we wouldn’t join in the fun.   

Let someone know of your plans. Especially if traveling to a remote location where there may not be cell service. Anything can happen and if it does you want to be missed sooner rather than later.

Print out good directions and having a map is even better. Relying solely on your cell phone or a garmin for directions can lead to mishap.

Do a quick online weather check for your route and destination before leaving. A prediction of heavy thunderstorms means possible travel, leisure, and safety issues. Take appropriate clothing for the conditions you are traveling through and to. 

Making The Best Of What We Have Now

We enjoy our little daytripping adventures. It breaks up what has been a bit of a rut in our pandemic lifestyle as I’m sure most can agree gets a little old. However, it’s nothing like our normal vacation season and we still miss it. 

One thing for certain is that we are spending far less money this year because of it. Keeping that in mind, we over tip in full appreciation when we have the opportunity to enjoy a good meal out. Our retirement travel budget excess is being set aside for when things hopefully return to normal in the future. It will be then that we’ll make up for this lost travel year. 

Be Prepared To Handle The Auto Hiccups Of Road Tripping In Retirement

Automotive Hobby, Do It Yourself, Vacationing in Retirement,

Retirement and road trips go hand in hand for many people. But they don’t always go off without an automobile glitch when logging hundreds if not thousands of miles. No travel is guaranteed problem free in this world. Instead of just worrying about all the possibilities or ignoring all risks, it’s best to take simple precautions. Actions to either prevent or handle the hiccups of road tripping in retirement. Nobody wants what would normally be a nuisance to turn into a dreaded road trip nightmare. One that ruins or at the very least negatively weighs on the experience. Here are a few tips that can save retired road trippers time, worry, and money when it comes to automotive travel hiccups.

Be Prepared To Handle The Auto Hiccups Of Road Tripping In Retirement

Handling Typical Auto Hiccups Of Road Tripping In Retirement

It doesn’t matter whether we’re taking to the road in our trusty and reliable cruiser or renting one. Even as reliable as the newer cars are these days, mishaps and failures can happen to anyone. And most importantly, they can happen anywhere. It seems to me that the rules of universe dictates that if they are to happen, they must happen in the most inconvenient places and times. It’s one thing for our car not to start in our own driveway. It’s another story when it happens at the gas pump or our hotel.

Basic pre-trip preparation tips:

There are certain road tripping in retirement realities to keep in mind.

  • There isn’t always going to be cell service on our route.
  • We can’t always rely on the kindness of strangers stopping to give us a hand. It may come to that. But it’s best to be prepared to handle what we can so that we can be safely on our way.
Make sure the car is serviced and ready.

I inspect everything the best I can, including checking all my tail lights, brake lights, signals, and headlights to see that they are all working. My next move is to have my auto servicing done by getting a fresh oil change. I do this a couple of weeks before departing. Where I take my car for oil changes they also rotate my tires and inspect the brakes. If not offered as part of the oil change package, I also request an inspection of all fluids, belts, and hoses to make sure there isn’t anything that should be addressed. That way if something needs to be replaced or repaired I have time to get it finished without panic and stress.

It’s also important to keep up with recommended service intervals for things like tune-ups and transmission fluid changes. The first step to an enjoyable road trip is having confidence in our automotive magic carpet that we’re relying so much upon.

Find and remember where the car’s owner’s manual is.

Nothing can cause road tripping in retirement panic like a warning indicator light popping up on your dashboard. Usually our car’s owner’s manual will give a hint as to what might be the problem and its seriousness. It also will tell us where things like the spare tire, jack, and lug wrench are stored. So many people have no idea where these are located in their vehicle.

I rented a Dodge Caravan last fall to drive through 4 States to take the grand-kids to Disneyland.

I would have never found the spare had I not reviewed the owner’s manual before we left for the trip. Fortunately I found the owner’s manual in the console. Its spare tire was tucked up in the middle of the van behind the engine and transmission. I then made sure it was there, dropped it down, and checked to verify the tire pressure. It wasn’t needed during our road trip but I had peace of mind.

Check that the tires air pressure is at recommended levels. Also inspect them for any visible damage, wear issues, nails, or screws.

Most new cars will display the tire pressure on the dash when going through the display options. That will indicate whether any of them are low and need to be topped up. That’s good for all but the spare tire in most cases, which needs to be manually checked. An inexpensive tire pressure gauge is usually needed to check the spare and when using an air pump to get them where they need to be. If one tire is abnormally under pressure compared to the others it can indicate that it may have a nail in it or a poor seal on the rim causing a slow air leak. Just before departing check all tires as well as possible before taking to the road for any nails or screws that may be embedded in the tread and get it repaired.

I’ve changed a tire or two on road trips over the years.

I had to change one tire on the interstate after picking up a bolt dropped by a construction truck in front of us. A box fell and scattered the case of bolts across the highway. It’s not only scary dangerous, but any flat tire is a pain in the keister no matter where it happens. When I do get a flat I prefer to replace it with the spare and head to the nearest tire shop. Those tiny doughnut spares aren’t made for traveling long distances.

retirement road trip precautionBut I also carry a 12v auto tire pump. I use a 12v air inflator from Lowe’s made by Kobalt. If it’s a slow enough leak I can pump it up and get to a tire repair shop. It also comes in handy when you get a low tire pressure sensor indicator on the dash. Aside from the typical nail scenario, this can happen with changes in elevation or colder temperatures on your trip. Running tires on the highway with low pressure not only eats into your gas mileage and tire wear, but they heat up and can cause failure.

When in a flat tire jam there are also many tire inflator flat repair aerosol products. I do carry a Fix-A-Flat can in my tool bag for an emergency. However, most newer cars have tire pressure sensors and even though these products say they are sensor safe, I have never tested that claim. I carry it to use as a last resort, like in the case of multiple tire failures. Your rear tire can hit the same puncturing item as your front tire did just a second before.

Battery failure can happen without warning.

Before leaving I always check my battery terminals to make sure there is no corrosion and everything is tight. Batteries usually come with a warranty. For instance, I buy car batteries guaranteed for 5 years. But when I hit that 5 years I proactively replace them whether they are acting weak or not. I do this because a battery can fail without warning. The first time an old battery encounters a high heat period or it’s first cold can trigger its failure. Even with my battery replacement habit, I carry a portable battery jump box to jump start my car just in case I ever encounter a battery failure. The days of standing somewhere holding a set of cumbersome battery jumper cables hoping and waiting for a little assistance from someone are over.

I just returned a few days ago from 8 days of road tripping in retirement where we traveled over 1700 miles in our car and experienced battery fun.

We were in day 5 and packed up ready to leave for another city and the final destination of our trip. Surprise! The car wouldn’t start due to a dead battery. Because it was only 4.5 years old I checked to see if we left a dome light on or something else that may have drained it overnight. There was no previous indication of battery fatigue.

Useful Auto hiccup road trip precautionI used a jump box to start the car and figured it would charge during our next 2.5 hour leg of driving. If not, then the battery had gone bad. I used a small jump box made by Viking that’s sold at Harbor Freight that I bought on sale for $60. In any case, we were able to leave from a spot that wasn’t conducive to fixing anything and be on our way.

Carry a basic tool bag.

It’s a good idea to carry a small tool kit when traveling. Not for doing any major mechanical work, just little things that can come up and be easily repaired.

Basic Travel Tool KitI carry a small kit with a ratchet and associated SAE and Metric sockets, a few wrenches, pliers, needle nose pliers, and screw drivers. I throw into the tool bag a quart of oil, some WD40 spray, duct tape, and electrical tape. I’ve used items from my tool bag during road trips on numerous occasions. For instance, I needed the socket set to change out a burned out headlight bulb. The tool kit I have was bought decades ago during a Christmas season sale from Walmart.

As mentioned above, we experienced battery trouble last week on our most recent road trip.

We drove 2.5 hours, about midway to our destination. It was a good place to fill up the tank. But first I wanted to check the battery situation in a strategic spot. I parked in the parking lot of this little town’s Napa Auto Parts store and turned off the car to attempt restart but it failed. I went inside and made sure they had a replacement and had the store test it and it was indeed bad.

Their adjacent shop next door could change it for me but it was going to be a couple of hours before they could get to me, so I dug out my tool bag. Newer cars usually require removing more than just the battery tie down clamp and the battery cables. I used the tools to remove them. But also a structural support arm and the fuse box from the fender so that it could be slid up just enough to squeeze the battery out. The charge for the new battery was $53 less than the listed price. That was because I got a cash and carry discount. Not bad for 30 minutes of my time plus we were on the road again much faster than waiting for service.

Don’t let your fuel tank go below ¼ tank full.

No matter the road tripping in retirement temptation to push forward to another town, it’s always best to never run our gas tank below ¼ tank towards empty. Today’s cars have fuel injection and fuel pumps located inside the gas tank. They sit in the bottom of the tank and run constantly to keep the fuel system pressurized. It works it’s little heart out when driving at highway speeds for several hours on road trips. Like all electrical devices it gets hot when worked hard. Sitting in liquid fuel helps keep it cool. Run the tank down and half or more of your fuel pump will be exposed. It could possibly weaken or fail due to heat.

The other issue is fuel contaminants. Stuff like water and other light debris will most likely be floating on top of fuel. Run the tank down and it can be picked up by the pump causing it to plug its surrounding mesh filter or worse, pass the water or contaminant. Either case can cause engine shut down.

Have towing insurance and/or a service like AAA.   

Not everyone wants to tackle auto hiccups. There are also breakdowns that go beyond our capability and tool bag. That’s why it’s important to have towing insurance and/or a service like AAA. I make sure I have the telephone number of my insurance tow assistance saved in my phone. Having a single number to call who can find the nearest tow company and repair shop to tow to is a huge relief. Encountering a situation where we have to use the tow service or have someone come out to your location to change a battery or tire is going to impact vacation plans big-time with all the time delays, but at least we aren’t going to be stranded.

Other tips to get through auto hiccups while on a road trip

Be sure to place your jump box, tool bag, and air pump somewhere easy to get to when traveling. That way you won’t have to pull out all of your luggage first to use them.

Check the internet when you need to figure out how to fix something. I have found step-by-step replacement instructions online, even YouTube videos, for many DIY automotive repair issues.

When you get a pesky check engine warning dash light and your car seems to be running OK, you can go to any major auto parts store and have them pull the codes for you. Most provide this service at no cost. I have had this done at AutoZone and O’Reilly auto parts stores. One time I found out that the code that caused the check engine light was due to a loose gas cap. We just needed to simply tighten the gas cap for a better seal.

If you find your tool bag doesn’t have a needed tool to complete the task, many major auto parts stores will lend you the needed tool, sometimes without deposit if you buy your parts from them.

 

Vacation road tripping in retirement is definitely one of our biggest pleasures. We get to experience both the ride and the destination. This pleasure is tied to the emotional and mental experience of the trip. We can reduce the risk of a bad experience because of a nuisance auto hiccup by taking a few precautions before we hit the road.

5 Feasible Funding Options to Fulfill Your Dream Vacation  

Vacationing in Retirement, ,

 

All of us deserve some time away from our life grind at least once, every year. Whether it’s a solo trip, a relaxing vacation with spouse, or a full-fledged family getaway, the mere thought of traveling is rejuvenating – until it all comes down to calculating the cost of flight tickets, hotel bookings, food, shopping and more. So if you are tight on budget but your brain is craving vacay time, then these are the only 5 tips you need to finance your travel dreams.  

1 – Rack up Reward Points on Credit Cards and Fund the Travel to Your Favorite Destination

Credit cards come with big discounts on airlines and hotels and offer attractive rewards on travel-related purchases. While the trips are not free, the reward points can cover almost 70% of your costs! So research credit card offers and maximize your benefits.

 

However, the average interest rate on credit cards is around 15%; a personal line of credit for traveling is a more affordable way to quench your wanderlust. 

 

2 – Consider a Collateral-free Personal Line of Credit for Travelling Worry-Free!

When you need money on an urgent basis, a personal line of credit makes for a viable option. Just like a personal loan, a personal line of credit is an unsecured loan but it comes with flexible EMI options and convenient payment periods. And the best part is – unlike a personal loan, a personal line of credit charges interest only on the amount you use!

So, if you don’t know the exact amount of money you will spend on your vacation then taking a personal line of credit for traveling makes perfect sense. With a personal line of credit, the money will always be handy. You can borrow any amount you need anytime, anywhere without having to pay interest on your entire approved limit from day 1!  

 

3 – Take a Personal Loan to Avoid a Big Upfront Payment

Personal loans impose no restrictions on the usage of funds. Taking a personal loan for a vacation needs no security and the repayment tenure can be extended for as long as 5-10 years. However, in case of personal loan, the interest rate is charged on the entire amount that is disbursed to the borrower. Also, the closing cost may be relatively higher than a personal line of credit due to higher interest rates.  

 

4 – Start a Savings Account in Advance to Pay for Your Holidays

If traveling is your life-long plan, then you need to save in advance. Stash a portion of your pay every month into a savings account and when you have accumulated adequate cash, you can take a vacation! It is surely a smart move to save first and spend later but your life may not always go as you have planned. So, use these 6 money-saving tips to create your travel budget.   

 

5 – Opt for Travel Payment Plans to Take a Vacation on a Tight Budget  

Travel payment plans have gained a lot of popularity and preference in the recent years. People are now taking vacations even on a tight budget with travel payment plans that are offered by independent travel agencies. Travel payment plans are also available directly through cruise lines, resorts, and online travel agents.

You can book your vacation up to 10 months in advance and repay the outstanding amount over time if you are using travel payment plans. These plans have a fee for spreading out the repayments but there is no interest charged like there is, on personal loans and credit cards. However, travel payment plans only cover accommodation so you may need to bear the entire cost of the airfare upfront depending on the channel that you choose to secure your travel plan.

 

In today’s fast-paced, demanding life, refreshing vacations are an absolute necessity. So if you want to go on a vacation, don’t let the cash crunch hold you back. Choose any of these 5 financing options and make your dream holiday affordable.

Just in time for the start of travel season! This informative article was contributed to Leisure Freak by Shiv Nanda.   
5 Feasible Funding Options to Fulfill Your Dream Vacation  Author Bio:

Shiv Nanda is a financial analyst who currently lives in Bangalore (refusing to acknowledge the name change) and works with MoneyTap, India’s first app-based credit-line. Shiv is a true finance geek, and his friends love that. They always rely on him for advice on their investment choices, budgeting skills, personal financial matters and when they want to get a loan. He has made it his life’s mission to help and educate people on various financial topics. 

5 Tips on Saving More Money with Annual Travel Insurance

Early Retirement Lifestyle, Protect Assets, Saving Money, Vacationing in Retirement,

When it comes to travel insurance, one of the most common questions is, ‘Isn’t single trip insurance cheaper than annual travel insurance? Then why would I sign up for the latter, when a single trip cover is saving me a few bucks?’ Not all of it is true, especially if you are a frequent traveler. Opting for  travel insurance entirely depends on the kind of traveler you are – a frequent traveler or an ordinary traveler.

Either way, getting  travel insurance is necessary, just to make sure you and your family are protected in case of an accident, loss of personal belongings, travel inconvenience, etc.

Annual travel insurance might come up as an expensive venture, however, for frequent travellers, it’s probably the most viable option out there.

Before delving deep into the art of saving money, let’s first see what annual travel insurance actually is.

5 Tips on Saving More Money with Annual Travel Insurance

Image Credit

Annual travel insurance in a nutshell

In short, you make a one-time investment to purchase an annual travel policy instead of putting your money at work before every trip in a given year. It is a more convenient and feasible option for both business and leisure travelers.

An annual insurance policy usually offers the following:

  • Trip cancellation coverage
  • Covers medical expenses
  • Coverage for loss of luggage
  • Delay in flights and other flight related inconvenience coverage
  • Flight reroute expenses
  • Travel inconvenience coverage
  • 24-hour hotline for emergency situations

Certain insurance policy providers also offer the following:

  • Cover for aadventurous sports like bungee jumping, scuba diving, rafting, etc.
  • Identity theft cover
  • Rental-car collision cover

Apart from these, insurance providers might offer you other additional benefits, which you need to check with the service provider before signing up.

How to save money with yearly travel insurance

Did you know that you can save a lot more money with an annual trip cover? Most frequent travellers are opting for it, and it’s time you should consider it too! Here are 5 essential tips on how you can save more with a yearly insurance policy.

  1. Pay low premium: For multiple trips in a year, signing up for annual travel insurance is the best option. You will eventually end up paying substantially lower premium compared to a single trip policy!
  2. Choose your insurance plan wisely: Make sure that you are opting for the best plan. Do you want independent travel cover for each member of your family or a single plan for the adults? Individual insurance plans are generally more expensive, so choose as per your requirement.
  3. Know your travel duration: You have to pay more for longer duration stays. So, make sure you are clear about your travel plans and have all the itineraries set. Also, how many days of insurance cover do you need in a calendar year? If you have all these in place, you can save more money while purchasing the insurance.
  4. Compare deals and benefits: In Malaysia, you will find a host of travel insurance policy providers, including and not limited to, Allianz, AIG, RHB, Maybank, MSIG, etc. Compare the deals, offers, and rates offered by the insurance service providers and choose the plan that suits you best. In this way you will be able to save a few extra bucks.
  5. Geographical area: Know the areas that fall under the insurance policy. You don’t want to fall sick, meet with an accident or lose your money in a place that’s not covered under the policy, right?

A well-known insurance policy provider will always tell you the benefits of an annual travel plan before you take it up.

So, are you a frequent traveller? What kind of travel insurance plan are you exactly looking for?

 

This informative article was contributed to Leisure Freak by Syed Faraz

Syed is a Financial content analyst/adviser of bbazaar.my, an online platform that provides information and advice on personal finance and money management.

How Planning Ahead Can Save You Money

Saving Money, Vacationing in Retirement,

Birthdays, nights out, and vacations can be expensive, and threaten your budget. If you would like to maintain your financial health, and get more value for your money, it is a good idea to plan ahead and secure the best prices and discounts available in the market. Below you will read some of the tips on how to make your money go further; whether you are planning a vacation, a romantic dinner, a day out with the kids, or if you’re my age, spoiling the grand-kids.

Use Discount Code Sites

Planning Ahead Can Save You Money

Image by Goodfellow Air Force Base

You could shop around to get a discount on your flights, cruises, restaurant bookings, or even hotels if you start your search early. There are several last-minute travel sites and voucher code pages on the internet that offer great savings for customers. You don’t have to sign up for each of them, as you might be overwhelmed by the number of promotional emails you receive. Instead, you could simply search for your destination or restaurant on the site.

Book Your Transportation Early

You can save a lot of money on travel and transportation if you book your flights, taxis, or train tickets early. Check out https://www.rydely.com/ for travel voucher and discount codes. You can even get a family travel card or book your parking in advance to save money. If you already know the dates of your travel or night out, you can put everything in place on time, instead of making last-minute reservations.

Take Advantage of Young Person’s or Senior Discounts

You are likely to find young people’s, family, and senior discounts offered by restaurants, bars, and event organizers. You can cut the cost of your travel by making sure that you don’t pay more than you have to. Choose the right package and type of ticket, and check out the different offers. Some restaurants have happy hours for seniors or couples a few days a week, and this will help you save money.

Don’t Buy What You Don’t Need

 

Sometimes, you will be offered services you don’t need. If you are traveling by air, companies might add insurance to your booking that you already have through another company. Before you book cheap flights online, make sure you need the guarantees and services that are added to your account, or you will end up paying more than necessary. Getting a meal on board can be expensive, and if you have a meal before and after the flight or pack snacks, you can save hundreds of dollars per family.

Eliminate Credit Card Fees

Whenever you book a table online or order your tickets for events, look out for credit card  charges. While it is a good idea to make a vacation booking using your credit card, as it is easier to claim money back, you don’t want to pay extra for this convenience. Check out the terms and conditions before you complete your booking.

 

Whenever you are planning a night out or a vacation with your family, you should compare prices and get all the information to avoid paying more than you have to.

Cruising Doesn’t Mean Your Wallet has to Take a Bruising: Getting the Most from Cruise Line Deals

Saving Money, Vacationing in Retirement, ,

Going on a cruise tends to appear rather frequently on lists of things that pensioners want to try out in their retirement. But many think that heading out to sea is out of their means and thus throw their ambitions to the wind. This doesn’t have to be the case! There are plenty of ways that you can land yourself on the deck of a liner with a limited budget. You just have to be a little savvy with your spending and look out for the best opportunity to book your trip. Here are a few tips and tricks that can ensure you get to experience the cruise of a lifetime.

Getting the Most from Cruise Line Deals

Image Credit

Seize Opportunities

Luxury cruises may find that they have a couple of places available at short notice. Perhaps some passengers have canceled their booking without much notice, or one room is left over after a particularly large group booking has taken up the rest of the liner. In situations like these, liners may offer discount deals due to the inconveniences that late notice entails. You should seize these opportunities. If the cruise is all-inclusive, you are likely to be well catered for and will simply have to pack a few personal belongings, your sun cream, and your passport. Check out the website Vacations To Go for great deals. They allow you to signup to receive email notifications of the latest deals found.

If you don’t have the cash at hand to book last-minute, you can always take out a personal loan and pay the amount back to a lender in smaller, more affordable installments. This means that you can take advantage of the reduced price of the trip, which may no longer be available by the time you have saved the amount for yourself. The last minute trip savings may far offset any loan interest you will pay on the loan. UK readers should check out GoBear comparison and those in the US check Bankrate for the best offer available to you.

Getting the Most from Cruise Line Deals EZ

Photo Source

Travel With a Companion

Cabins with two beds tend to be more affordable than cabins with one, individual bed, as you can split the overall price between you and another person. So find a travel companion(UK) or check out Friendly Planet and head away together. You could also share travel down to the liner itself and back (whether you share the drive or you decide to take a taxi and split the fare). This will make the trip cheaper and also more pleasurable, as you will have company throughout. Just remember to choose someone who you will feel comfortable inhabiting a relatively small space with for an extended period of time.

Haggle

Believe it or not, you can still often get away with haggling when it comes to engaging with estate agents and cruise liner companies. If you have seen a similar cruise offered by an alternative brand for a cheaper price, chances are that others will match the price in order to win your being their customer. So, take a look at all of the options available to you. Choose your preferred cruise liner and see if you can knock the price down a little. It’s always worth a try!

These are just a few ways to cut the overall costs of heading away for a break on a cruise liner. Try them out and you could save yourself a few bucks that can be put away for a rainy day down the line.

Rethinking Retirement Car Ownership

Cars In Retirement, Saving Money, Vacationing in Retirement,

I have seen the same planned retirement right of passage many times. People securing their magic carpet by following the Retirement Car Ownership tradition. Buying a new or late-model car before ditching the rat race.

Having all the time in the world for road trips means needing a reliable and new car to jump in. It should last forever without the commuting to work and is the smart retirement move to make.

Or is it?

Here’s Why I’m Rethinking Retirement Car Ownership

I fell for this same thinking. Not by buying a new car but we did get a year-old manufacture/dealer certified used car a year before I retired early. Paid cash and thought this is it, we are all set.

I really believed that with proper maintenance and mostly light duty highway driving that it would last a very long time.

Rethinking Retirement Car OwnershipThere was some method to my madness, I didn’t just blindly follow the herd with our thinking. I have a 1981 Toyota truck that I have been able to drive for well over 2 decades so this retirement logic seemed sound. I am a car-nut and consider my automotive hobby as important to my retirement. It’s part of what I retired to. I find a car I like and it’s till death do us part which has worked for me over my life’s decades.

But I am beginning to understand the NEW reality about retirement car ownership

I was right in one aspect of my retirement car ownership thinking. In these 7 years of my early retirement we have taken many road trip adventures in that retirement ride. We have plans for many more too. But there is a huge flaw in my and what I believe is the common retirement car ownership thinking.

These newer cars aren’t made to last long.

It has nothing to do with the engines. They are marvels of engineering compared to the old stuff and there is no questioning their higher fuel efficiency and their safety. In a collision my old truck is barely safer than a motorcycle.

Our retirement ride is now 10 years old and has 145,000 miles on it. It runs beautifully. All of the dutiful fluid changes have paid off. But that isn’t the problem with modern-day autos and yes, I do consider a 10-year-old car a modern-day car.

The retirement car ownership logic’s flaw is the tech.

All of the sensors, computers, electronic controls, and everything else that makes modern cars function becomes quickly obsolete and failure prone. That is what we are starting to experience. Some tech failures do more than annoy us with a Check Engine light to warn us to get something serviced. They can shut the car down.

The problem is when there is a tech failure it almost always comes without warning. No amount of regular car maintenance is going to keep someone from experiencing most automotive tech failures either. It will happen when it happens and it would certainly bite if it happened in the middle of nowhere hundreds of miles from anywhere. We see a lot of no cell service on our open road travels too.

Before all the tech lovers decide I am crazy just ask yourself how many people you know are rocking a 10-year-old laptop? How about even one that’s 6 or 7 years old? Modern cars are controlled by a computer of some sort.

Just do a web search on the Year, Make, and Model of car you are interested in followed by the word “problems” and see where most of the failures are.

My New Retirement Car Ownership Plan

I had set aside $20,000 to replace our magic carpet retirement ride at some point in our retirement.

But I now plan on using that money for another purpose. Instead of buying another vacationing ride I will just rent them. Problem solved. A new car for road trip vacations and keep my older cars for the other 90% of my life within 50 miles of home and within cell service.

I just had to start questioning my retirement car ownership thinking and ask, why pay for a newer car for the purpose of vacationing? A new car with more tech than ever. One that I know will have tech issues within 10 years regardless of my dutiful servicing and easy driving miles.

My justifying financial thinking went like this: We average 27 days of road trip related travel a year. The car rental rates for a full-size car on the Costco Travel site is just under $30 a day. That’s with an in-town pick-up/drop-off and with unlimited miles. If we travel as we have been then for $810 plus taxes we will be road-tripping in a new car.

My brain always insists on my doing a little Pros vs Cons analysis
Pros
  • We will always travel in a late-model car with the latest safety features.
  • The comfort of having that “Reliability” factor settled.
  • Lower Cost. I will have lower car insurance cost by keeping our older rides. They also have lower licensing fees and taxes.
  • That depreciation thing. New cars lose value fast. My cars are already at rock bottom.
  • The money I have set aside for travel car replacement could easily pay the rental car costs for many years.
Cons
  • I can’t be as spontaneous. We will have to always plan ahead to reserve a rental car.
  • There is the whole pick-up and drop-off hassles. But it just needs coordination with the bride or someone friendly.
  • There is the possible insurance hassles due to any damage to the rental car. Between my credit card car rental benefits and my personal $500 deductible auto insurance I should be covered. But it will be more work to get done than my personal car would take.
  • Not all full size cars are created equal. I could get an uncomfortable car for our long road trip.

Wrapping Up

I believe the Pros far out way the Cons. I think the swing away from the traditional retirement car ownership logic is all about the new tech and where things are headed. Aside from the above, it’s amazing how quickly technical advances are moving. From e-cars  to autonomous cars. 

I am convinced at some point combustible engines will be obsolete.

There is also the current jokes (I hope they are jokes) that soon steering wheels will be outlawed.

I am also fully aware that as I age the road trips will likely decrease. That is what I saw happen with our relatives over the years.

As our current old rides need more money than they are worth to repair we will just donate them. At some point I may be down to just my trusty old truck of 24 years and our bicycles.

Uber and Lyft drivers are now in our town and that too may be a new retirement car ownership shift to consider.

Obviously if I had a giant budget I could just buy a new car every 3 to 5 years and not have to worry about failing tech laden cars. But this early retiree doesn’t have a giant retirement budget to spend like that. Even if I did have that kind of budget I doubt I would do that. It would go against my frugal living values.

Do you see any flaws in my new retirement car ownership thinking? Have you already come to the same conclusion?

How to Travel the World without Draining your Hard-Earned Retirement Savings

Vacationing in Retirement

 

You have worked hard for years and have reached retirement. As many folks do, you have some ideas of how you want to spend your time now that the time is your own. If your plans include traveling the world, this time is both exciting and perhaps a bit nerve-wracking. You want to have the experience you have been waiting for, but are nervous that you will spend too much of your retirement savings. Fortunately, there are ways to travel economically, that will allow you to experience what you have been looking forward to, without your hindering the rest of your retirement.

How to Travel the World without Draining your Hard-Earned Retirement Savings

#1: Determine Exactly Where you want to go and the Cost to Get There

Travel the World without Draining your Hard-Earned Retirement SavingsWhat does traveling the world mean to you? Which cities and countries are important to you to visit? Make a list of the places you want to see. Also consider how you would like to travel; would you like to take one long trip where you go from place to place? Or would you like to see a part of the world, come home for a bit and then travel again? Make sure to have a good idea of what you want to do and how you want to do it. Otherwise it may be easy to waiver and include places you were not necessarily interested in visiting.

#2:  Get an Idea of the Cost to Travel to and Spend Time in the Places you choose

Price flights to the places you want to visit; whether from your home or from another place you plan to visit. Make sure to learn which airlines provide service to where you intend to travel so that you can compare the cost for each carrier, not just the different flight days and times. Remember that the cheapest flight may not be the best option. If it requires multiple flight transfers or long layovers, you may wind up with less time at your destination.

Cost of living calculators are great to help you tally the approximate cost of staying in a particular place for a certain amount of time. You can try Numbeo by clicking here. These calculators are great and will give you an idea of how much you are looking at having to spend for all aspects of your trip to that particular place. This will be very helpful when planning your trip as you try to decide how long you will stay in each place.

#3:  When Planning Accommodations Consider Camping, Hostels or Apartment Rentals

Of course it is enjoyable to stay in a nice hotel. But it is expensive. In most cases camping will not cost much and even if you have to buy camping gear, you will save money in the long run. Research camping options in the places you plan to visit. For those who are not experienced campers there are plenty of tips on camping available online and in books. Through camping, you will add another element of adventure to your trip and be able to experience places you might not if you were staying indoors. If you are not comfortable camping, consider staying at a hostel if one is available, as this will cost much less than staying in a hotel. You will likely have to share a bathroom and possibly a sleeping space, but depending on the type of traveler you are this might not be an issue. It is likely when you are exploring a new place that you will be doing just that…exploring!

Another option is to rent an apartment. Renting an apartment will likely be less expensive than a hotel and will provide you with the space to cook your own meals, which should lead to an additional cost savings.

#4: When it Comes to Food, Go Shopping

Be creative when considering your meals. Even if staying at a hotel, rather than paying for a large breakfast, stop at a grocery store for some fruit and a pastry or roll. You can purchase cereal bars and keep them in your room as well. This is even easier if you are camping or if you have rented an apartment as mentioned above. Not paying for eating out for every meal will make a significant impact on your budget. You can pack your lunch and bring it with you and make your coffee in your apartment

If street vendors are available where you are traveling, give those a try. Meals from a street vendor will cost less than at a restaurant and you will gain an authentic experience.

If the water is not safe to drink, purchase a case of water and bring a few bottles with you each day so you don’t have to pay the premium price for a bottle of water. If the water is safe to drink, fill a water bottle each day before you head out exploring.  Carry snacks with you so that you can eat when you are hungry and not tempted to spend more money than you need to.

#5: Research Transportation Options and Deals

Taxis are usually not the most economical way to get to where you want to be. Research options in the place you will be visiting. Ask about discounts that may be available. The availability and cost of transportation may impact your choice of accommodations. A particular hotel may have a room for what seems like a great price, however if it is nowhere near the places you want to visit, or affordable transportation, a more expensive place to stay may save you money in the long run.

Often, hostels are located near places that visitors are interested in seeing. This makes them an affordable option not only for a place to stay, but for transportation.

While air travel is expensive and options are minimal, once arriving at your destination there are many options available to you to keep your costs down. Achieving your travel goals does not mean that you have to worry about your retirement savings. The tips above will help you to travel the world without draining the savings you have worked so hard for.

What travel tips to you have to keep costs down? Please share your experiences!

Note: Guest Post by William from Pandaneo.com.  A site dedicated to all things camping.

8 Great and Inexpensive Travel Ideas for Your Retirement Bucket List

Early Retirement Lifestyle, Vacationing in Retirement,

8 Great and Inexpensive Travel Ideas for Your Retirement Bucket List. Being a retiree gives you a lot of advantages when it comes to traveling. For one, you have a flexible schedule which means you can save on airfares and hotels. You also don’t need to rush your trip just because you’re tied up to a deadline in the office or your boss is demanding that get back as soon as you can.

However, although being retired means a lot of freedom, it doesn’t mean that you can book a trip to just about any place your agents tells you. Without proper planning, you can end up spending all your precious retirement funds on your trips.

Great and Inexpensive Travel Ideas for Your Retirement Bucket List

Here are 8 of the must-have travel but inexpensive ideas you should definitely try:

1. Go on a cruise trip to Asia

Traveling on a cruise ship is one of the best ways to relax without sacrificing the essence of a retirement trip. There are a lot of inexpensive travel packages, particularly to Southeast Asia, you can choose from. If you want to save more, make sure to book your trips before the months of November through March as these are their busiest months of the year. If you’re not a fan of Southeast Asian countries, Alaska is another good option.

2.   Take an RV to the Pacific Coast

Driving an RV to the Pacific Coast will expose you to the exhilarating beauty of the Pacific Ocean. And because you’re in an RV, it gives you a wide range of activities you can do while in the area. You can go fishing, read a book or spend some time just watching the birds. You might even be surprised to find a lot of retirees in their RVs around the area.

Another good way to save on your trip is to bring your own eco-friendly electric cooler. You can find a lot of these coolers online or you can borrow one from a friend or relative for your trip. Because there are a lot of easy ways to run an electric cool box, you’ll be surprised on how it can make your trip more comfortable and convenient.

3. Book a trip to the major cities

If you’re looking for a new experience, you can try visiting St. John, Virgin Islands. This place can give you the familiarity of the country with a taste of the Caribbean experience. Las Vegas is also a good option since it has retiree-friendly hotel rates, discount coupons and affordable transportation.

4. Go out of the country

This is perhaps one of the most common travel ideas among retirees. If you’re still not sure where to book a trip, you can try Italy. Because of the slowed economy, hotel prices are offered at a much-lowered price. There are also a lot of places to explore, particularly when it comes to art, music and history.

5. Go on a road trip to a National Park

8 Great and Inexpensive Travel Ideas for Your Retirement Bucket List- go to a national parkAccording to a few surveys, visiting a National Park is one of the most common destination retirees have on their bucket lists. If you have the same idea, you can save on your trip by bringing your own car or mini-van. Because you have your own means of transportation, you can go at your own pace. You won’t also need to socialize with strangers as compared with going on private tours.

6. Take a day trip to Mexico City

If you fancy walking around markets and visiting museums, you definitely shouldn’t miss Mexico City on your bucket list. You can do a lot of activities in the area, such as eating tacos, floating in little rafts and going on day trips to the ancient pyramids.

The expensive part of the trip is the cost of buses going from one city to another. In case you have a specific place to visit in the region, it’s best if you take the time to really enjoy the area before you travel to your next destination. An alternative option is to go in a group or find someone in the area who’s willing to do a home exchange.

7. Travel to the remote areas of the world

There are a lot of places in the world which hold great views and experience for travelers but are rarely visited. The rural Madagascar is one of them. Since the area is remote, rates aren’t as expensive as those in the cities. Aside from the lower rates, navigating in these areas can also give you a different type of experience. Your skill as well as your patience will be tested but you’ll definitely get serenity on this trip.

8. Go boating in Myanmar

If you don’t fancy getting on a cruise ship, you can book a trip directly to Myanmar. The cost of going to this destination isn’t as cheap as it was before so it’s a good idea to plan your activities ahead of time. If your budget is limited, you can search for monasteries and monks in the region who are willing to take in travelers for a small amount of money. When in Myanmar, boating in some of its untouched beaches or lakes can give you a one of a kind experience. You can go visit its monasteries and temples after.

Note: The above post is provided by contributor Simon Barker who reached out to provide Leisure Freak’s readers these 8 Great and Inexpensive Travel Ideas for Your Retirement Bucket List.

Author Bio:

Being highly passionate about inexpensive traveling, Simon Barker is your go-to guy when it comes to saving money while making the most out of your trip. He is the owner and editor of ElectricCoolBox.co.uk where he shares his experiences and best tips.