Welcome to our Ultimate Guide to Travelling on a Budget for Malaysians. Travelling is one of life’s most enriching experiences, offering the chance to explore new cultures and create lasting memories. Unfortunately however, there is a price tag to this adventure, and no you cannot pay for your trip with courage.
If you are not a Malaysian, worry not as the tips in this article will still be relevant to you. However, the examples are targeted towards Malaysians.
This guide is your roadmap to unlocking the secrets of budget-friendly travel without compromising on the quality of your adventures.
I want to travel on a budget but I don’t want to stay in hostels. Often, people tend to confuse the term ‘budget-friendly’ to mean staying in hostels and/or couchsurfing. While there is nothing wrong with that (to each his own), some prefer a little more solitude when travelling. Now what if we told you that you can travel on a budget without having to stay in hostels, despite earning in sad sad MYR?
We understand that every cent counts (why do you think our site is called Travelling and Cents?), and with our guidance and practical tips, you’ll discover how to make the most of your travels while keeping your finances in check. We’re done with the SEO fluffs, now join us on this transformative journey of smart money management while travelling.
Related read: Survive Your First Solo Travel
How to Create a Travel Budget
First of all, the key foundation to travelling on a budget is obviously – to create a comprehensive travel budget. We’ll guide you through the process of creating a budget that not only aligns with your financial capabilities (what’s budget travel for you may be luxury to others and vice versa, so this article covers that too) but also allows you to make the most of every destination.
So, let’s dive into the world of smart budgeting and set the stage for a journey where every travel and every cent is a deliberate step toward unforgettable memories.
Saving Strategies for Travelling on a Budget: How to Build Your Travel Fund
No budget to travel yet? No worries, we got you covered too!
In order to set up a travel budget, you will first need to build your travel fund. Understand that the whole thrill of travelling often begins long before you even book a flight or an accommodation.
In this section, we’ll dive into the art of saving before a trip, offering insights into how you can build a dedicated travel fund. Be mindful that travelling is a luxury in itself. If you have other needs to be taken care of, focus on that first. Don’t go broke planning a holiday.
Saving for your travel involves more than just stashing away spare change—it’s a deliberate process that aligns your financial aspirations with your wanderlust. Here are some suggestions to build your travel fund:
- Reduce your expenses:
Track your daily and monthly expenses critically. With cashless payment options being vast around Malaysia, it’s easy to lose track of where you are spending your money. In order to be more wary of your spending, you can create an excel sheet which tracks your daily/monthly expenses. Even better, download the BigPay app to track your expenses. (Use my promo code: SIFHPHOOCR to get RM5 upon card activation).
- Automate Your Savings
Set up an auto-debit for your dedicated travel fund. Consider downloading wealth management apps. If you are someone who’s not very financially savvy and don’t really want to read and learn about investments, StashAway Simple may be the appropriate choice for you. You can earn a projected 3.8% p.a on any amount. The good news? Any money you save in StashAway is liquid, ie, you can withdraw it at any time. Download the StashAway app here.
Treat your travel fund as a non-negotiable bill, just like rent or utilities, ensuring that a portion of your income is directed toward your travel aspirations.
- Sell unneeded items
The keyword here is ‘unneeded’. Declutter your living space and simultaneously boost your travel fund by selling items you no longer need on online platforms such as Carousell or Facebook Marketplace.
- Establish clear financial goals
Have specific and achievable (SMART goals) financial goals for your travels. Whether it’s a certain amount to cover accommodations, activities, or a daily spending limit, having clarity on your goals will keep you motivated.
Tip: Break down your overarching travel budget into smaller, manageable milestones to celebrate your progress along the way.
- Consider freelancing to get some extra income
If you are unable to increase your primary source of income, explore opportunities for a side hustle or freelance work to supplement. This could be anything from freelance writing, graphic design, online tutoring, or gig economy jobs.
Allocate the additional income directly to your travel fund, accelerating your savings rate. This way, you reduce the temptation to spend the money.
Remember, building a travel fund is not solely about deprivation; it’s about making intentional choices that align with your priorities.
Coming up with a budget travel itinerary
How do I stay within my travel budget?
Come up with a comprehensive travel itinerary. Let’s admit it, your first draft is not going to be perfect, in fact, you are going to hate it. But, this is a step you do not want to miss. Crafting an itinerary isn’t just about scheduling your time; it’s about planning an experience that will capture the essence of each destination without compromising your finances.
Let’s explore the art of creating a budget-friendly travel itinerary that gives you value for your money.
Having an excel sheet to map out your itinerary may be handy here.
Choosing Budget-Friendly Transportation
Explore cost-effective transportation options, including buses, trains, or budget airlines. Use platforms such as Klook to search for cheaper transport options*. Alternatively, you may consider the use of local transportation, such as trams or subways, for an authentic and affordable experience.
Pro tip: Join a travel Facebook group to get more details from locals in the area.
Prioritizing Must-See Attractions
This is optional as you can feel free to explore the off-beaten parts of your destination instead. However, the suggestion is to try to include at least some of the key attractions and landmarks that align with your interests and budget.
Create a prioritized list to ensure you don’t miss out on must-see experiences while allowing flexibility for spontaneous discoveries.
Discovering Affordable Accommodations
Research budget-friendly accommodation options, such as hostels, guesthouses, or vacation rentals.
Consider staying in neighborhoods slightly away from tourist hotspots for more economical lodging. Alternatively, you can try Couchsurfing platforms or join the Host a Sister Facebook Group. However, always remember to stay safe and keep your belongings in tact.
Look for Free and Low-Cost Activities
Highlight free or low-cost activities, such as walking tours, local markets, or cultural events.
Tap into the local scene and immerse yourself in the destination without straining your budget.
Budget-Friendly Dining Experiences
Explore affordable dining options, including street food, local markets, and budget-friendly restaurants.
Embrace the culinary diversity of the destination without overspending on meals.
Creating Flexibility for Spontaneity
Allow room for unplanned adventures and spontaneous discoveries.
A flexible itinerary enables you to embrace the unexpected while staying within your budget constraints.
Utilizing Travel Apps and Resources:
Leverage travel apps and online resources to find deals, discounts, and budget-friendly recommendations.
Stay connected with fellow travelers and locals to gather real-time insights on budget-saving opportunities.
Pro tip: To get better exchange rates, use the Wise app. From our personal experiences, Wise somehow always gives us a better rate than banks. Use this link to get a fee-free transfer up to MYR2,500*.
Managing Daily Expenses
Implement strategies for managing daily expenses, including tracking expenditures and setting a daily spending limit.
Stay disciplined in adhering to your budget to ensure a financially stress-free travel experience.
So now you have a travel budget and a comprehensive budget travel itinerary, what’s next?
Making your bookings for your Travels
It’s time to make your bookings for your travels. This section will guide you through the process of securing budget-friendly accommodations, transportation, and activity reservations without compromising on quality.
Booking Accommodations
Research and compare prices on various accommodation platforms. Consider alternative lodging options such as hostels, guesthouses, or vacation rentals for cost-effective yet comfortable stays.
Remember, sites such as Agoda and Booking(dot)com offer a Best Price Match guarantee-if you were to find another platform offering the same accommodation (same dates) for a lower price, Booking(dot)com will match that price. Win-win in our opinion!
Utilizing Loyalty Programs and Memberships
If you have an existing loyalty programme with a travel related service, use it wisely. If you don’t already have one, consider joining membership programs that provide exclusive discounts or perks, especially if you plan to travel frequently.
Flexible Transportation Reservations:
Investigate flexible booking options for transportation, such as refundable tickets or travel insurance. However, take note that the non-refundable options are always cheaper. Therefore, if you are extremely sure about your details, opt for the non-refundable. Otherwise, it’s best to be safe than sorry, because every cent counts.
Reading Reviews and Seeking Recommendations
Read reviews from fellow travellers to ensure the quality and reliability of your bookings.
Seek recommendations from trusted sources, including friends, family, or online communities, to make informed decisions.
Safety Nets and Emergency Funds
Remember to allocate some emergency funds in case things go south (trust us, things can go south sometimes). You can either keep your money in your bank, or safekeep it with a friend or someone that you trust back home. In the event you lose access to all your bank cards, at least you have an option to get someone to transfer the money to you using platforms such as Western Union.
As we conclude this ultimate guide to traveling on a budget, it’s evident that embarking on a journey without breaking the bank is not only possible but can be incredibly rewarding.
If you found this article to be useful, share it around so that your friends can benefit too! Let us know in the comment section below if you have any questions or better yet, if you want to share your favourite budget travel story!
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