Great Money Saving Tips for Older Travellers

Retirement is the perfect time to travel. After years of being restricted in the amount of time you can spend exploring the world because of your job, your time is finally yours to do as you please and live your dreams.

The only snag is how to finance it. While some people are lucky enough to retire with enough of a nest egg put away to see them through a more than comfortable retirement, for others the end of work means a reduction in income as earnings are replaced by your pension.

But where there is a will, there is a way, and if you have your heart set on exploring the world in your golden years, you shouldn’t let small matters like money stop you. Many, many people have budget travel down to a fine art and it is perfectly possible to have unimaginably good travel experiences on a shoestring.

Here are the best tips we have seen for older travellers to stretch their travel funds as far as they will go.

Get travel insurance from a specialist provider

Travel insurance can become a serious expense once you reach the age of 60. That is because older travellers are considered a higher risk in terms of making a claim, so providers hike up their prices. Worse, many mainstream providers will increase premiums incrementally by age, a crude approach that can make policies eye-wateringly expensive by the time you reach 70. Bespoke travel insurance policies for the over 70s, on the other hand, from providers who specialise in cover for older travellers, will base prices on your own personal circumstances and save you considerable amounts for the trouble.

Plan your travel itinerary around prices

There are some obvious tips older travellers can take advantage of, like travelling out of season (especially avoiding school holidays) when prices are lower because demand is lower. But with a little research and advance planning, it is possible to book flights all over the world for unbelievably low prices - in some cases even pennies.

Websites like Skyscanner and Kayak are your friend here. If you search for flights based around price, rather than dates or even a specific destination, you will see just how cheap you can still book flights. And if you are prepared to take your times over travelling, try hopping from country to country using the cheapest flights you can find, rather than search for long haul direct routes. It is best to do this with stopovers and take your time as it can be exhausting, but it can also add to the adventure!

Consider alternatives to hotels

Hotels are usually the most abundant accommodation option wherever you travel, but they are also often the most expensive. While easy and convenient, sometimes it can add to the travel experience to make a point of not staying in hotels - and it can save you considerable amounts of money, too. Far from the stereotypes about young backpackers, hostels often offer great facilities for all ages on a par with a mid-range hotel at a fraction of the price, while homestays the world over are perfect if you want to meet people and immerse yourself in the culture of a new destination.

Rent out your own home

This is not so much a money-saving tip as an idea for helping to fund long-term travel plans. If you fancy setting off for a considerable length of time to explore the world, you are probably going to have to plan for leaving your house empty, shutting off utilities, making it as secure as possible and so on. Or alternatively - why not get someone else to live there while you are away?

There are plenty of options for turning this into a money spinner while you are away, killing two birds with one stone - someone is occupying and looking after your home, and you are making money in the process. Whether it is holiday rentals, long-term homestays or even home swaps, where you switch houses with home owners from another country for a specified period of time, you can either make or save a tidy sum.