A lot of us dream of traveling the world one country at a time. There is so much to see than the corners we are used to; there is so much to walk and explore than our usual routes from work to home. While traveling is not entirely impossible to achieve, not all of us are given fat paychecks and plenty of extra funds to travel whenever we feel like it.
Money is a traveler’s best friend (and worst enemy when it runs out) especially when you are starting from scratch and have not gathered enough tips and hacks to save money for your next big trip. If you want to start following your inner wanderlust but you do not have sufficient funds for it, this article is for you. Read on to know some helpful tips to save money for your upcoming travel.
1Open A Bank Account For All Your Savings
The ideal thing to do when trying to save your money is to actually not touch it. So there are temptations here and there, and you are only human. What can you do to avoid unnecessary expenses and make sure your travel budget is intact? Well, for one, you can open a bank account and dedicate it solely for your travel savings. This way, you can make sure that your money is safe and sound inside a bank and you would not worry about spending cold cash when your palms get itchy.
Dedicate a certain percentage of your income to your savings account and make it a habit of saving up every payday. It helps to have a visible reminder, so you do not forget to allot a portion of your paycheck to your savings funds. Better yet, have an automatic transfer done from your bank account to your savings account every two weeks. This way, you would not be tempted to touch your hard-earned money and think, “I can just save twice the amount next payday.”
2Work Extra For More Income
You can save as much as you want from your stable income, but you can also earn extra even if it is just passive income. Know something well enough that you can earn from it? Go ahead and try your hands on it. Love writing articles and sharing your thoughts on social media? Contribute articles and get paid for it.
Even if it is just mowing your neighbor’s lawn or babysitting for a friend, it can still count as an extra income. The important part is to try and save as much as you can while still being able to sustain your everyday expenses. You never know, from all these sideline jobs you take, you might have more than you need for your upcoming trip.
3Sell Your Unused Stuff
There is more to saving than just waiting for your hard work to convert into money and reach your bank account. You can also make money from what you already have – like the unused stuff in your house. As long as it still functions, in one way or another, someone is still going to want it. Maybe it just needs a little cleaning, but it can still be up for sale.
You can also take this chance to do a spring cleaning and get rid of things you are not using anymore. Instead of just giving them away, sell them for extra funds. Do not forget to add your earnings to your savings ASAP or you might be tempted to shop for little trinkets as a reward for decluttering!
4Go Out Less, Stay In More
This next tip is a no brainer. Need funds for your next travel? Then quit going out and spending. A major reason why we easily spend our money is that we go out and mindlessly buy things. Imagine going out with your friends on a Friday night and shelling out a couple of bucks for dinner, drinks, and maybe a movie if you feel like it. Sounds tempting, right? However, it will also tempt you to spend.
You do not really need any of that especially if you are saving up for something much bigger and more exciting.Think about it, staying in on a Friday night can give you some quality time. It is much more peaceful that way. Remember, you have to sacrifice temporary pleasures for bigger goals. So get ready to sacrifice those bottles of beer for your travel goals.
5Create A Budget Calendar And Stick To It
Many people fail with their saving goals because they do not have a calendar to keep them on track. To effectively save the amount of money you will need for your big trip, create a budget calendar that will encourage you to list down your finance’s in’s and out’s. It would also help to list down your monthly, weekly, and daily budgets so you would know how much you have left for the remaining days or weeks. Your budget calendar would prove to be useful once you review where your money goes. This way you would know what to buy lesser of.
6Put Yourself On A Shopping Ban
It is easy to shrug off sales once in a while, especially if you do not really need the item. However, what if you have to do it for a couple of months to save up for your upcoming trip? You have to be more reliable this time. Put yourself on a shopping band and list down only the necessities that you can spend your money on. Keep yourself accountable by bringing this list with you wherever you go. This way, you would be reminded that you need to save your money for something more important than clothes on sale – like your travel funds.
7Buy Your Groceries Instead Of Eating Out
It is easy to spend when you are out and about. Especially when we are with people we love spending time with; we tend to think that it is normal to splurge a little more than usual since we rarely go out with them. Thus, every dine-out should be treated as a special occasion. More often than, this is how money easily flies out of our palms. We eat three square meals a day, sometimes more. If we keep eating out, then we surely would not have any money saved up for our future trips.
To keep your budget safe in your wallet, buy your groceries instead. Make sure to stay on the outer counters of the supermarkets where you can find fresh produce. Inner aisles have the snacks and extras in them. You can best avoid that and buy foods that are more long-lasting like dairy, eggs, spices, and other cooking ingredients. You never know – you might just learn a new recipe or two as you make it a habit of staying in more often.
8Do A $10 Money Challenge
If you find it too tedious to keep jotting down your expenses and staying track on your budget calendar, you might want to try doing a money challenge. You can start with a small denomination on the first few weeks. If you can afford it, consistently deposit $10 in your unbreakable piggy bank, something that you cannot open without completely destroying, so that you know your money stays safe in there.
If $10 is too big for you, you can start with $5. Gradually increase it by the week. If you are counting months before your trip, you can increase the denomination monthly. If you start with $5 this month, make sure to deposit $10 next month, $15 the next, and so on. After only six months, you would have already accumulated as much as $420.
9Cut Off Unnecessary Subscriptions
Sales are tempting especially if we make a conscious effort to keep them on our radar. The saying, “out of sight, out of mind” has never been more applicable. Keep subscriptions out of your sight to keep them out of your mind. Unsubscribe from newsletters and brand e-mails. Cut off subscriptions that you do not need especially premium ones. Trust, you will survive a few months with ads in your Spotify playlists.
Subscriptions also make us spend on luxury items especially when the sales come rushing in our inboxes. Avoid shopping costs by removing your e-mail address from their subscription lists. This way you would not be tempted to get that vacuum cleaner that is 20% off for a limited time only.
10Do A Social Media Detox
You can also help yourself by unfollowing brands that only tempt you to shop online and splurge your money just like that. This will only leave you with a buyer’s remorse a few days after. Especially if they are brands you follow “just in case you might find their products useful in the future,” you can follow them in the future and lay off their sales pitches for now. Even better, lay off of the social media for a while and focus on what you have to do to earn more and spend less at the same time.