How to save on travel as cost of living rises

Singapore is one of the most, if not the most expensive city in the world to live in. It doesn’t help either as the cost of living continues to rise, with people feeling the most pinch in the healthcare and food expenditure.

To help Singaporeans cope better, the government has also announced a $1.1 billion Cost-of-Living Support Package to provide more relief for Singaporean households, especially lower- to middle-income families.

But how else can we better manage our other spending, such as on travel? Here are some steps you can take to save on your next escapade.

1. Plan and book in advance

Booking your flights, accommodation, and activities well in advance, usually three to six months, often leads to lower prices. You can also use fare comparison websites and apps, such as Skyscanner, to find the best deals on flights and accommodations.

2. Travel during off-peak periods

Travelling during shoulder seasons or off-peak times can significantly reduce costs. If you can, avoid the school holidays or peaks like Christmas and New Year. If you must travel during these periods, you can choose to start your travel from the middle of the week instead of the weekend. A simple case of supply and demand, prices for flights, hotels, and attractions are often lower when demand is lower.

3. Be flexible with your travel dates

If your schedule allows, be flexible with your travel dates. Sometimes, flying a day earlier or later can result in substantial savings. Use fare comparison tools, such as the “seven-day fares” function on the Singapore Airlines website, to find the cheapest days to fly.

4. Use loyalty programs

Join frequent flyer programs like Singapore Airlines' KrisFlyer, which can be used on any airline under the world’s largest global airline alliance Star Alliance, and hotel loyalty programmes, such as Marriott Bonvoy, to earn points and get discounts on future travel.

5. Consider alternative airports

Some cities may have more than one airport in the vicinity, such as Tokyo which has Narita Airport and Haneda Airport. You can compare the nearby airports for a cheaper flight. But don’t forget to check the transportation costs from the alternative airport to your final destination.

6. Pack light

If you’re using budget flights, you can avoid checked baggage fees by packing efficiently and fitting everything into carry-on luggage. Be aware of the weight limits and baggage policies of the airline you're flying with though.

7. Use public transportation

Instead of renting a car or relying on taxis, use public transportation like buses and subways to get around. These are especially easy to use and efficient in countries with well-developed transport networks. You can also consider walking or biking for short distances or getting transport passes that come with attraction tickets, such as the Osaka e-Pass or the Discover Seoul Pass.

8. Eat like a local

Opt for local street food or casual eateries rather than expensive restaurants. It is also fun to explore local markets for affordable and delicious meals.

9. Stay in budget accommodations

Consider staying in budget-friendly options like hostels or guesthouses instead of luxury hotels. Look for accommodations with good reviews and a central location on sites like Booking.com, Trip.com, Agoda and HotelsCombined.

10. Travel with a group

Splitting costs with friends or family can significantly reduce accommodation, transportation, and meals expenses.

11. Research free and low-cost activities

Find free or inexpensive attractions and activities at your destination. Take advantage of museums, parks, and cultural events that offer free admission. You can also enjoy discounted activities when you book on sites like Klook and KKday, which offer attractive promotions from time to time.

12. Purchase travel insurance

While this may seem counterintuitive, travel insurance can save you money in case of unexpected cancellations, delays, or emergencies. To get you started, you can get your travel insurance from Alliance Assistance, Income and Prudential.

13. Monitor currency exchange rates

Keep an eye on exchange rates and consider exchanging your destination currency at favourable rates. For the record, the Japanese yen has reached an all-time low recently—about S$0.91 for 100 yen! For contactless payments, you can also use cards with no foreign transaction fees or markups for international purchases.

14. Avoid tourist traps

Research your destination to identify tourist traps and overpriced areas to avoid unnecessary expenses.

15. Set a budget and stick to it

Create a travel budget and monitor your spending to ensure you stay within your limits. Being mindful of your expenses can go a long way in making your travels affordable but still fun and memorable.

Check airfare here: Skyscanner | Trip.com | Expedia
Book accommodations and activities here: Agoda | Booking.com | Klook | KKday | HotelsCombined | LuxuryEscapes
Save big, get the all-inclusive pass & explore your destination in-depth: GoCity
General info here: Tripadvisor
Affordable data plans here
And while you are at it, get your travel insurance with Alliance Assistance | Income | Prudential!