Travelling is all about making great memories, but it’s also important to watch your spending. Buying souvenirs and travel essentials can cost more than you expect if you don’t plan carefully.
Whether you’re a seasoned traveller or setting off for the first time, simple strategies can make a big difference in stretching your budget. With the right approach, you can save money and still enjoy every part of your trip. Let’s look at how you can shop wisely and make the most of your budget.
1. Allocate certain funds for shopping separately
When planning your trip, save money specifically for shopping and keep it separate from your overall travel budget. You can do this by creating a fixed deposit that matures before the trip. Another option is opening a separate savings account.
This makes it easier to avoid spending money meant for other expenses like food, transport or sightseeing. When you actually travel, withdraw only what you’ve saved for shopping and use that amount.
2. Use cards with rewards and cashback offers
When you’re shopping during your trip, use cards that give rewards, points or cashback. You can enjoy extra perks like discounts on flights, hotels or purchases. It’s a smart way to save money on things you already planned to buy.
Make sure your card works in the area you’re travelling. Using these cards means you get something extra back every time you spend. Just remember to have a backup payment method in case your card doesn’t work.
3. Use UPI to pay at local markets
When shopping in local markets, use UPI payments instead of cash. Many small shops now accept UPI, and it’s a safe and quick way to pay. Plus, you don’t have to carry a lot of cash, which is easier and safer when travelling. UPI also keeps a record of all your transactions, so you can track your spending without much effort.
Keep an eye out for cashback offers or discounts that UPI apps often provide, especially during festivals. Always keep your UPI PIN safe and secure for a hassle-free shopping experience.
4. Bargain to get the best deals
When you shop in local markets, bargaining can save you a lot of money. Sellers often expect you to negotiate, so don’t hesitate to ask for a lower price. Start by offering a price lower than what you’re willing to pay and work your way up. Be polite and friendly while bargaining; it makes a big difference.
If the seller doesn’t agree, don’t feel bad about walking away. Many times, they’ll call you back and offer a better price. Sellers may charge tourists more, so bargaining can save you a significant amount in the end.
5. Keep track of your spending
It’s important to know how much you’re spending, especially when shopping during your trip. Use a simple app or write down your expenses in a notebook every day. Divide your spending into categories like food, shopping and activities to see where your money is going.
Setting a daily spending limit can help you avoid overspending and stick to your budget. By keeping track, you’ll know exactly how much you have left, so you can enjoy your trip without worrying about running out of money.
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When you travel, it’s important to shop wisely and manage your money without missing out on the fun. These tips help you enjoy shopping while staying within your budget.
For making your payments easier and safer, choose Kotak811 Debit and Credit Cards. With them, you can make secure transactions and earn rewards and cashbacks.
Get your Kotak811 Card now and shop worry-free while you travel!
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This Article is for information purposes only. The views expressed in this Article do not necessarily constitute the views of Kotak Mahindra Bank Ltd. (“Bank”) or its employees. Bank makes no warranty of any kind with respect to the completeness or accuracy of the material and articles contained in this Newsletter. The information contained in this Article is sourced from empanelled external experts for the benefit of the customers and it does not constitute legal advice from Kotak. Kotak, its directors, employees, and contributors shall not be responsible or liable for any damage or loss resulting from or arising due to reliance on or use of any information contained herein.
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