21 Ways to Save Money in Thailand

Thailand is a popular destination for its exotic beaches and exciting nightlife. Millions on visitors come to Thailand every year to see the awe inspiring natural beauty and Buddhist temples. With all the sights, smells and wonders to be experienced, it can be all too easy to get carried away with the old pocketbook.

Before you strike out on your own Thai adventure plant your feet firmly on the ground by having a general plan about how you'll manage your money. A few minor adjustments can substantially extend your resources while abroad! Here are some ways to make your money go further while staying in Thailand.

1. Local Food

Don't get drawn in by the "American Breakfast" or similar tourist meal packages offered by many hotels, as these are overpriced (and, typically, not at all good). Instead, go for a walk and find a local eatery where you can eat for a fraction of the cost while sampling delicious local cuisine.

2. Drink Water

Not only will water leave you hydrated and healthy, but you'll save many baht if you choose water more often than beer. Though beer is quite cheap in Thailand, water is even more affordable at about ¼ the price of beer. I still enjoy a beer now and then, but I know that every time I opt for water I'm saving myself more than just a few baht.

3. Money Management

Before embarking on your trip to Thailand, be sure to check with your bank to see how much it will cost you to withdraw money via cash advances or ATMs. If these rates are shockingly high, it's time to consider travelers checks.

4. Travelers Checks

When possible, buy travelers checks in large amounts. Many times there is an exchange fee per check. These fees can quickly add up. It's a good idea to get travelers checks in hundreds and then cash one at a time as you need money.

5. Credit Card Advantages

With the exception of cash advances and ATM fees for getting cash through your credit card, plastic is usually the best way to pay for the larger purchases of a trip, such as airline tickets and car rentals. The best thing about credit cards used in foreign economies is that you'll be seeing the true exchange rate with little or even no transaction fee.

Also, if you do have a good fee structure for withdrawing cash from ATMs while abroad, take advantage of every opportunity to pull out money, as often these rates are better than what you'll get at banks overseas.

6. Travel Second Class

You can save a bundle of money by opting for second class. In Thailand second class accommodations are perfectly comfortable, but cost only about half as much as first class.

You may be surprised by how nice second class accommodations can be. Often times there are air conditioned and non-air conditioned second class rates. First class typically means you pay twice as much for a little more space and privacy.

7. Hiking Boots

While many tourists purchase hiking boots that cost hundreds of dollars, you have the benefit of knowing that hiking in Thailand is not like hiking in Peru or Nepal. While hiking in Thailand most people get along just fine with a decent pair of sandals. Just think how much cooler you'll be with a nice pair of airy, light-weight sandals, not to mention how much easier these are to take off and put on while visiting temples and homes.

8. Take the Bus

Rather than hiring a taxi or tuk, try to use public transportation whenever possible. This is a great way to save money while enjoying a more personal journey through Thailand. The larger cities have very developed and affordable bus and train systems.

9. Guidebooks

It's a good idea to buy a guidebook for the first destination you will be traveling to. After that it's much more affordable to trade or buy guidebooks once in Thailand. You can find the same guidebooks available at home, but for a fraction of the cost. Many times these are photocopied versions sold by street vendors.

10. Guesthouse Bargaining

If you plan to stay at a hotel or other type of rental for more than a few days, it's not a bad idea to negotiate with the owner for a lower weekly or monthly rate. Particularly during low tourist season, hotel operators are likely to grant requests for extended stay rates. Of course not every one will be willing to compromise on rental rates, but you won't know unless you ask! For the cost of a five minute conversation you many find yourself saving a tidy sum of baht.

11. Credit Card Safety

Okay, so this may not seem to be a money saving tip, but trust me, if you've ever been the victim of credit card fraud carried out by unscrupulous hotel staff, you know how much money this tip could save you! If you plan to book rooms using your credit card, call the issuing bank of your credit card and ask about setting up a filter for blocking large purchases. Depending on the bank, they may require authorization from you, whether verbal or via PIN, for purchases over the agreed amount.

12. Off Season Travel

An extremely easy way to save some money across the board is to travel to Thailand during low tourist seasons. From hotels and car rentals to guides and activities fees, you'll find many items and services to be much more affordable during off season.

The peak tourism months in Thailand are February, March, August, November and December, with secondary peaks in January and July. By booking travel accommodations during April, May, June, September or October you will be able to find some steep discounts on rooms and air fare.

13. Malarial Medications

Though there are areas along the Thai/Burma boundary where you might worry about malaria if you plan on sleeping in the swamp, good mosquito repellent and appropriate clothing will suit you fine in even rural areas. If your doctor prescribes malaria medicine before your trip, you may want to get a second opinion. If you need to buy medication, you can purchase malarials once you get to Thailand for a fraction of what they would cost other places.

14. Sleeping Bag

Don't waste money on a sleeping bag unless you'll truly be roughing it. Even then, some sheets or sarongs would be better for the climate. All guesthouses provide fresh bedding, so save room for all the goodies you'll find and leave the sleeping bag at home.

15. Haggling

Whether buying a meal from a street food vendor, or shopping for pricier antique items, never take the first offer if you want to save money. In Thailand, as with many other tourist hot spots, the first offer given by most vendors is almost always high. Use your intelligence and try to bargain with the vendor. You'll quickly be able to ascertain whether he or she is willing to come down in their price.

Naturally, if you find yourself haggling over a few cents it's time to pay up or move on, but typically offering about half of what the vendor first quotes you is a pretty solid approach to begin negotiating a lower price.

16. Rental Houses

In Thailand more rental properties are being offered on weekly or daily bases. Though Thailand is slow to transition to this more modern form of accommodations for visitors, than some countries, the real estate boom in Thailand has assisted in the growing number of holiday homes and villas that are available for rent.

As times change more Thais are making their properties available for visitors to rent. Though rental homes tend to be massed in more urban and tourist-traveled areas, with a little bit of research and a pinch of luck you are likely to find a rental home in the less traveled portions of Thailand.

17. Share Accommodations

Sharing a room or renting a portion of a dormitory room will always be cheaper than staying in a private hotel room. Sharing space with fellow travelers is a great way to meet people from around the world. While you're there you can also save money by trading books, music and magazines.

18. Buy in Bulk

A good tip for many situations, buying in bulk while on vacation includes necessary things like water. Try to buy six packs of bottled water, over endless singles, and you'll save a fair deal of money over an extended period of time.

19. Bring Your Own

If there is a particular activity you enjoy and plan to pursue during your stay in Thailand, such as snorkeling or surfing, by all means, bring your own gear! The baht you'll save on rental fees for items like these can add up extremely quickly. You'll have to do the math, but even if your item fetches additional transport fees, it may be worth it depending on how long you'll be in Thailand.

20. Tipping

Tipping is not customary in Thailand, though the heavy tourist areas have grown familiar with this Western tradition and you should certainly tip there. But for the most part, you can save money simply by doing as the Thais do. That's easy enough, right?

21. Digital Camera

Naturally you'll want photographs of your Thai adventure. If you do not have a digital camera, now is a good time to make an upgrade. A digital camera will pay for itself immediately as you save money by no having to purchase film and choosing to print only the pictures you want to.