Travel Tips
Financial tips for travelling after retirement
Are you planning on spending your retirement gallivanting around the world? Then you’ll need to make a financial plan.
Be organised
If you want to get the best deal on flights and accommodation it’s generally best to book early. You can take advantage of early bird specials and early booking discounts, as well as getting the dates you want. Last minute bookings will often push up the cost and restrict your options.
Off season specials
One of the benefits of planning ahead is that it gives you the opportunity to stock up on travel necessities on the cheap. Buy your ski gear during the sales at the end of the Australian season, which is just before the northern hemisphere season begins.
Many outdoor and adventure gear retailers will have one or two big sales during the year, so you can buy ahead and save a bundle. This applies to everything from power adaptors to tents.
Go native
The rise of home-based accommodation, like the kind you find on Airbnb, is revolutionising the travel industry – and can save you a lot of money. Spending a week in a Paris apartment is much cheaper than a hotel and gives you a more authentic experience.
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Eating and drinking out are a huge expense when travelling, but with your own kitchen you can find the local supermarket, fresh produce market and bottle shop, and do as the locals do.
Money on the road
Currency fluctuations can make it difficult to stick to a budget when you’re travelling, especially as the Australian dollar continues to slide. Put some of your money onto a preloaded travel card that locks in the exchange rate so you know exactly how much you have to spend.
Many of these cards also have no international transaction or withdrawal fees. These are only a few dollars each time but can quickly add up over a long trip.
Better safe than sorry
Get travel insurance, the best you can afford. It’s not nice to think about the bad things that can happen while you’re travelling but you need to be prepared. Travel insurance will cover you if things get stolen, you have an accident or suddenly become unwell.
Yes, it’s an added expense but it’s one you really can’t do without it. If you’re planning a few trips in a year an annual policy will probably provide better value than a new policy for each trip.
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