No matter how cheap we want to be, travel requires some money. There’s no way to avoid that, so in order to save for our trips, we need to cut our expenses.
Everyone is different. What one person gives up to save will be different than another. So, I’m not going to tell you to take shorter showers or stop buying lattes. The specifics of how you save are up to you.
Here are some simple and creative ways to cut your expenses, make money, and get on the road sooner:
1. Create a Budget :
You can’t save without knowing what you spend. To save money for travel, start by tracking every cent you spend.
Categorize those expenses and include a category for the unpredictable.
Do this for about a month or two to get an idea of where your money gets spent. This is a huge eye opener for some people and from here you can consciously decide how you need to change your spending habits.
2. Set Your Financial Travel Goal :
Research the trip you want to take. Get a sense of what it will cost, then round up the number.
There are two reasons for rounding up. One is so that you have a nice simple figure in mind as your goal. The second is so that you have some space in your travel budget for it to stretch as it will almost inevitably do.
The bigger the actual cost of your trip the bigger the round-up.
You can have your money grow a little bit more by putting it in a high-yield online savings account. One of the safe method to save money for travel.
3. Set Your Home Budget :
Since you have tracked your expenses you have the right information with which to set a budget. And because you have a wonderful goal in mind you’re motivated.
Now you can now set a realistic budget. In doing so, allocate all your income in some way or another, whether it’s to an expense or savings.
Then calculate and project how your savings will add up month over month.
write “NEEDS” – and at the top right, write “WANTS”.
Once you’re finished, look at the “WANTS” column – and write down how much they cost, next to each item. Now total them up. That’s how much you can instantly start saving every month if you cut all these out.
The final step here is simply to stop buying those things you don’t need. I know, it’s harder than it sounds.
4. Develop Habits That Save You Money :
How about getting up a little earlier, skipping the bus and walking/riding a bike to work instead? Ever heard of ride-sharing?
What other daily expenses can you replace with money-saving habits?
What skills can you learn that will cut your daily costs?
I’ll give an example. By cooking your meals instead of buying them prepared, you can save thousands of money every year. Other hands you save money for travel every year.
You don’t have to give up excellent coffee and tasty avocado toast — just prepare them yourself and save money.
There are a million and one cooking sites that will teach you how to cook fast and healthy meals — perfect for people without much time.
5. Subscriptions and Memberships:
Get rid of subscriptions to magazines and any memberships you can do without. Go for a run, walk, surf, or ride a bike instead of going to the gym. It’s much more fun too!
6. Cut Coupons :
The Entertainment Book, grocery coupons, Groupon, and loyalty cards all reduce the price you pay at the register.
Clipping coupons might make you feel like an 80-year-old grandmother, but the goal here is to be frugal and save money for travel, and coupons definitely help with that.
7. Ask For Money :
Rather than gifts, ask family and friends to give you money for birthdays and other special occasions.
They could pool their money into one gift for a flight. They can put it in a brochure to make it a little more personal.
Not everyone likes giving money but when it helps make a dream come true, people will be onside.
8. Selling Items :
Go through your closet, garage, and boxes to find items you are no longer using.
Then you can either have a garage sale or sell them online at Amazon, eBay or Craigslist. Selling your unwanted things can boost your savings dramatically.
9. Build a network on Couchsurfing :
Building a network on Couchsurfing can help you make friends with locals and get free accommodation when you do travel.
But if you have never used it before, you might not get many responses.
After all, someone who hasn’t been vouched for and has no reviews isn’t an appealing candidate. Before you go away, sign up for Couchsurfing, find a local meetup (there should always be at least one in your area), and attend.
You’ll make friends, be added to people’s profiles and vouched for, and have a network you can utilize when it is time to actually go away.
10. Stay Inspired and Focus on Travel :
Make travel the first thing you think about when you wake up, and the last thing you think about when you go to sleep. A passive but important way to save money for travel.
Picture yourself on that plane to foreign lands as much as you can throughout the day. The more you have it on the brain, the more saving for it will come naturally.
If you’re having a frustrating day with saving, read through your favourite travel blog, go on Pinterest to look at beautiful photos, or talk to friends who have already been to the destination you have in mind.
Keep travel on your mind, and you’ll keep money in the bank.
I have shared some simple 10 tips on how to save money for travel.
Hope you liked my tips for saving money for travel.
Now, let me ask you a simple question.
Do you follow any of the tips mentioned above?
Or, maybe you have another set of tips to share in public.
Either way, please share your thoughts by leaving a quick comment below.
Finally, please share this post with your beloved ones who love to travel. It takes just a few seconds.
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