This post was made possible through a partnership with TINZ.

Traveling isn’t exactly the most inexpensive hobby out there. With so much to spend your money on, it’s challenging to figure out where to cut costs in your budget. 

That being said, there are many tried and tested tricks to help you do just that. Here are just five of them:

1. Take caution to avoid scams.

One of the easiest ways to lose money while traveling is by getting scammed. It happens more often if you’re an unexperienced traveller or unfamiliar with the location and the common practices there. Marketplace vendors and taxi drivers are generally the biggest offenders, it’s important you’re able to recognize when a price seems too high compared to an average or acceptable price in the area.

If you do find yourself in this situation, be prepared to haggle. It isn’t difficult, and many locals abroad anticipate it when trying to get more money from you – approach them kindly and calmly, and begin your negotiations. If you’re successful you could save up to 50% of the original asking price, so it’s worth a try.

2. Have a set daily budget.

Establish a daily budget for yourself to ensure you’re not overspending. A daily budget is arguably the most cost-effective method of saving money, as you’ll have mapped out just how much you can afford to spend on each aspect of your travels.

Consider the essentials – accommodation, transport, food – and just how much you’re willing to spend on each. It’s also important you’re accounting for the leisurely side of things – it’s only fair you give yourself a sufficient amount to have fun with.

And, most importantly, leave some money aside should you need it for any unexpected fees that could potentially arise.

3. Eat the street food.

Not every meal you have while traveling has to be at an extravagant, sit-down restaurant in order to ensure a tasty dish. Street food is almost always just as delectable and perhaps more diverse and exciting than its competitors, at a mere fraction of the price!

Street food is popular throughout the world, but particularly in Asia, you’ll be spoilt for choice when traveling through the region in terms of food. Thailand is a particular highlight, with a diverse offering to say the least. You’ll discover cultural delicacies and maybe even some new favorites!

4. Travel during off hours.

Although it may mean you have to sacrifice a good night’s sleep, traveling through the night is surprisingly effective in terms of saving money. With so many travelers and tourists opting to fly at peak times, the cost of said flights will be much more than the quieter, less desirable hours – meaning you’re able to scoop up the best deals.

This is especially a great way of saving money if you’re planning on hopping from country to country. Soon enough the amount you spend on flights will rack up, so avoid hefty totals by being clever with your timing.

To save even more money, take an overnight bus or train. These are generally less desirable and slower methods of transportation so they can save you a pretty penny.

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5. Stay in hostels.

You’ll have to forget about the luxury five-star accommodation when it comes to saving money. Splashing the cash on expensive hotels and resorts is a waste when you likely won’t be spending much time there. Opt for hostels instead for a balance of comfort and affordability.

Although you may have come equipped with misconceptions about hostels, with time they’ve become a desirable accommodation option for many travelers. Often costing just a few pounds or dollars, they’re always clean and comfortable – and you’ll likely meet a new friend or two in the process.