Is Budget Travel The Best Use Of Your Money?

In many ways, Millennials are responsible travelers. They like to consider carefully the cost of their holidays, not only in terms of booking but also everyday expenses. As a result, they’re less likely to spend it all on a splurge vacation. They do their research carefully in advance so that they always know and understand how much everything costs.

Indeed, at a time where budgets are becoming tighter as a result of the economic situation, Millennials are the first to embrace travel as a monetized reward. They are keen to pursue traveling, but they want to make sure they can plan their vacations thoroughly. Spontaneous trips are less and less popular as they are often synonymous with unexpected expenses. Instead, planning is the key to make your travel money go further.

Millennials, however, are, by far, the most creative travellers. While they consider the most cost-effective approach to holidays, they don’t hesitate to question the very essence of a vacation. Indeed, in an age where we all lead busy lives, it would be preposterous to imagine that a week in a luxury hotel can meet your emotional, physical, and budgetary requirements anymore. The holiday is designed to break out of the routine that will help them to recharge their batteries and relax. Using the definition as a starting point, they redefine budget travel to preserve all the experience of the holiday for the best possible value. Ultimately, they shift their focus from how much it cost to how much value they can squeeze out of each cent, dime or rupee spent.

 Is backpacking the best value holiday?

Spend less and travel just the same

The primary concept, when it comes to making the most out of traveling budget is to consider how to do just as much for less. From the point of view of the planner, it’s the ideal solution as it only focuses on addressing the cost without changing any of the holiday plans. The keyword here is research. If you do your research ahead of booking, you can spot the most cost-saving options for your trip. If you’re going to visit remote regions, it’s fair to say that the cost of flying there can be excessive if you’re not careful. However, if you have some flexibility in your dates, you can opt for an off-peak trip, which could save up to 50%! Additionally, while it might be tempting to stick to the comfort of a hotel room, you might want to consider long-term rentals which come up a lot cheaper. Admittedly, you can’t rely on the hotel management to cater for your breakfast and do the room during the day, but if you’re happy to work a little during your holiday, you can make your budget go significantly further without missing out on any of the attractions.

Spend more and let it work for you

If you think about it, your accommodation is, comparatively speaking, the most expensive part of your holiday. Indeed, most holidaymakers spend only one-third of their vacation in their hotel room or holiday rental. In terms of value comparison, this makes it the most expensive cost for the least value. As a result, Millennials have been taking a new approach to their holiday accommodation. More and more are using holiday homes as a profitable investment that not only guarantees regular income in the future, but that also ensures they always have a free room in their favorite destination. Whether you choose an empty piece of land to build, such as a Tanah lot in Indonesia – which would ensure you can create a modern house that meets the expectations of holidaymakers –, or an old property to renovate, a holiday home offers plenty of advantages. Even though it might seem to be a burdensome investment at first, Millennials agree that their holiday properties tend to pay for themselves in the long term, meaning that going on vacation gets cheaper all the time! Soon, you can generate an income from your investment too, meaning that you can let someone else’s travels pay for yours.

Can you live like a local without spending a cent?

Wait! This must be a joke! You can’t just live in a stranger’s home for free for the duration of your holiday! As a matter of fact, you can. There’s a hack, of course. It’s called a house swap. The principle is simple in theory; you offer your home of a family while you live in theirs for the duration of your holiday. In practice, it might be a little more complicated to organize, but thankfully there are plenty of houses swapping websites around to guide you to success. Once you’ve selected a trustworthy company, such as Home Base Holidays or Love Home Swap – which are reputable sources – you need to consider your membership package. This will allow you to promote your property on the website and access other properties too. It is up to you to establish a connection with the owner and discuss an agreement together. As a rule of the thumb, most owners continue to pay for their utility bills during the holidays, which means you don’t have to worry about water or electricity.

Spending less and earning more than you could imagine

What is a vacation about? If you want to change your routine and recenter yourself, you probably need a lot more than a holiday by the beach. You need to use vacation as a mean to find a new meaning. If you’ve hit a point in your life where resting in the sun doesn’t provide any comfort, you might be interested in a purposeful holiday, such as volunteering abroad. Ultimately, you can use volunteering programs that have a low-cost, such as Agape Volunteers for Africa for instance. You can also apply for a volunteering grant or add some earning options via teaching – you can pass a TEFL certificate – to pay for your travel expenses. You can learn a lot about yourself and others during the program. The sum of the learning can be life-changing, for you and for those you help.

Let someone else pay for your holiday

Do you remember the glorious time of your childhood when you would go on holiday with your parents? Vacations were the best time of the year; you didn’t have to go to school, and everything was free! As an adult, admittedly, you’ve discovered that vacations are not free and that you need to work a lot to afford them. But what if holidays were part of your job? Indeed, a handful of companies have travel jobs that encourage the successful applicant to spend time in luxury hotels or exciting locations which are all paid for. The applicant’s role is to share their experience – preferably on social media – and attract a new audience.

What’s stopping you from backpacking on the cheap?

Last, but not least, you’ve probably considered backpacking. Ultimately, backpackers are described as holiday-makers on the cheap. But spending as less as possible on your travels doesn’t mean that you’re getting the most out of your money. Indeed, backpacking is an affordable but unpleasant experience. The truth is that backpackers often face issues on their journeys, can feel exposed in cramped dormitory rooms, and rarely stick to a healthy and hygienic diet. Is traveling on the cheap worth putting your health and belongings at risk?  

The bottom line, when it comes to getting the most value out of your travel money is to define your expectations. While students can be excited about the prospect of seeing the world with a backpack, Millennials want their vacations to act as a mood enhancer before heading back to their professional routine. From using investment strategies that pay for your travels or volunteering with an impoverished community, the value you get out of your trip is not only monetary.