Toshl Finance Blog

Summer Saving Tips with the Toshl Finance App

With summer being in full swing and holidays coming around the corner, you would think this is not the time to be frugal and try to rest on a budget.

You would be wrong. Summer offers unique ways of saving money while still having fun on your vacation – doubling the pleasure!

Here are nine recommendations that will surely make your vacation more enjoyable and at the same time help your budget.

Tip 1: Plan ahead

The advice to book your summer vacation in the winter should come as no surprise, as the prices and locations usually start heating up when the temperature rises.

Winter planning gives you enough time to thoroughly research locations, pick your lodging out of a wider selection since most people tend to wait till the last minute.

Once you are set on dates and location, you can budget your summer vacation over a span of several months instead of trying to go full Scrooge with only a couple of weeks from booking to actually leaving.

Travel with Toshl
Set a budget with Toshl, create a special trip savings account and plan your trip financially before-hand.

All the linked tutorials are also available for Android and iOS apps.


Tip 2: Study the trends

Did you know the airplane tickets are usually cheapest in the midweek days? Same goes for booking hotel rooms, except if you are travelling on business, in which case the exact opposite should apply.

This is where planning comes into play, as you do not feel the pressure of buying a ticket today or book a hotel in the last minute. Take your time and  enjoy the financial benefits as well as peace of mind.

The trick is to recognize the trends and then play against them. We are not saying you should visit Spain in the winter and go skiing in the summer, although that would be very beneficial to your budget.

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Punch in those costs as soon as you commit to them so you will know how much money you have left for other expenses.


Tip 3: Think about currency

Check to see if the destination you would like to visit has its own currency or if the exchange rate is beneficial compared to your currency.

This does not mean you cannot visit countries where your home currency falls short, it only means that be prepared for extra costs. This tip comes in handy when you are eyeing a really cheap airplane ticket to a country with higher prices.

Even in the case of European union the prices vary from country to country so you might want to take that into the account.

Travel with Toshl
Use built-in currency exchange converter to quickly figure out how much did you just pay for that extra nicely looking dress in euros.


Tip 4: Travel light

How many times did you come home from vacations only to realise half of your packed clothes never left the suitcase?

Packing unnecessary luggage increases your travelling costs plus it is super uncomfortable to lug around extra suitcase which you do not need in the end.

We understand if you want your shirts to see other places, but if you are not going to wear them, there is no point of taking them just for the sake of peace of mind.

Travel with Toshl
Toshl does not give packing advice just yet, but you can use it to plan for unexpected costs like a new shirt or an extra set of pants.

Tip 5: Buy useful souvenirs

It would be best to avoid souvenirs all together, but if you must show off when you get back, think in terms of practicalities. A bottle opener is more useful than a fridge magnet. A t-shirt is better than a snowglobe. And a postcard usually does the trick.

By not buying useless trinkets you are behaving in an eco-friendly manner while at the same time you are not causing pain to your friends by gifting them something they will throw away at the first chance they get. Or even worse – they will give it forward.

So next time you think about buying used race horseshoes, troll dolls or old school soviet gas masks – think again! Please.

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You can budget for souvenirs and use currency converter to quickly measure the amount of money you are going to spend on junk.

Tip 6: Shop for food

Look, we get it. You want to eat all the local specialties, you want to wine and dine and you want to save money. Well, you cannot have it all.

Almost! You can still get a taste of the local and not spend a fortune if you shop for food. This does not mean you skip on restaurants completely, it just means you cannot have lobster every single night.

Strolling through the local supermarket also offers a unique way of exploring the local food culture, since you can spot a lot of special foods not available in your country.

Travel with Toshl

Use Tripadvisor to scout out the restaurants and then budget for fancy dinners combined with trips to the supermarket.

Tip 7: Share the costs

Travelling with friends is great for many reasons. One of those reasons being sharing the costs.

Car trip does not sound so horrible when you know you are travelling with a nice company of people who will chip in for gas. You can also use the same tactic when renting a shared room or an apartment and when shopping for other things that are cheaper in bulk.

Sharing costs not only benefits the participants financially, it also strengthens the bonds between people and makes them engaged into the planning since their money is involved.

Travel with Toshl

Keep track of who owns who what with Toshl description part of expenses entry. You can add geolocation to really zero in on the nature of the cost plus take a picture of the actual bill so Kevin does not skip on his share of the costs for gas.

Tip 8: Socialize with the locals

Meeting new people is usually a good thing, especially if you want to get the low-down on the tourist-traps (we all know the sinking feeling when a friend from out of town is explaining our own city to us pointing all the useless locations that are there just for the tourists), the tips about hidden gems and those gorgeous places off the beaten path.

Also worth noticing is that the getting to know the locals usually improves on your general travelling experience since “foreigners” appear more accessible and friendly which might come in handy when you need some assistance.

And finally – by meeting new people you gain access to new ideas and new ways of thinking which might come in handy the next time around you planning to visit a certain city or a country.

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Keeping a budget for all the planned entry fees is a smart thing, especially if you decide to skip on some of the most popular and overpriced attractions and rather spend that money for something nicer and presumably cheaper.

Tip 9: Use public transportation

Seriously. Trains, buses (not airplanes though!) are great way to explore new places, they do not cost a lot of money plus you can take night rides which double as a really cheap way of sleeping combined with travelling – just make sure you book in advance since sometimes sleeping cars are in high demand.

Another benefit of using public transport is also the free tour of the places you are visiting since you can spot additional venues and locations as you travel – something that is harder to do from a speeding taxi or a car you are driving.

Not to mention you are behaving eco-friendly and you are supporting local communities – which is something we should all be doing if we want the touristically interesting places to maintain its global glory.

Travel with Toshl

Get ahead by buying tickets online then storing the photo of it in the Toshl app. You can also use Toshl to quickly figure out the exchange rate between your currency and the local one if you are buying tickets on the stop.

But most importantly – no matter where you go and how much you spend, try and have fun on your holiday. Research shows that the memories are the most valuable thing people get from vacations and Toshl cannot help you with that… just yet ;)

Toshl Finance is an award-winning budgeting and expenses tracking app available on desktop, iOS and Android platform. It offers free and premium accounts, complete sync with your banking account, expenses tracking and budgeting. Download here!

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Posted in Tips & Tricks, Travel