Tips To Save Money for Travel
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How to get started.
Are you itching to go on that Caribbean beach vacation that
you have constantly been dreaming about? Or go on a long-haul trip to an exotic
country? I will show you how you can
save money to make your dream turn into reality.
I am far from being rich, and in fact only earn just above minimum wage! However, I still manage to make multiple trips every year to faraway destinations by following the below tips.
Here are some easy steps that you can take to fund your dream vacation:
Start a travel fund. - Open a separate bank account and make a deposit into this account every month. Even if it's just a small amount to begin with, it soon will add up. If you set up an automatic deposit into your travel fund account you will not see the money and therefore not miss it.
Make a Trade Off. - Make at least one trade off each month. This could be as simple as giving up the Latte at Starbucks, or not buying magazines/newspapers and instead going online to read these publications.Cut housing costs. - Housing is the biggest expense that many people have in their life. Finding ways to decrease this can make a large impact on your travel fund. If you own a house, can you downsize and get a cheaper house or apartment? Explore refinancing options and see if you can get a better rate. There are also ways that you can save if you are not a homeowner.
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For instance, sharing a flat or house by either renting a room, or getting a great roommate. Downsizing to cheaper housing will allow you to save much more money. Studios can be great options and are certainly much cheaper.
Say goodbye to the car. - I have lived without a car for several years now. I am able to save a large amount of money by not having the ongoing costs of petrol/gas and insurance. I travel to destinations by bike or by public transportation (utilizing bus or train passes to save even more pennies!).
Sell everything that you do not NEED. - Craigslist and EBay are just two avenues where you can sell the furniture which you don't use, or the books that you have already read. Maybe even sell the clothes that you no longer fit into!
Don't carry large amounts of cash. - Only carry the cash that you need for the upcoming two days. Anything extra will just be temptation to spend more.
Ditch those expensive high tech gadgets!
Or better still, don't buy them
All I own is a laptop, and a Pay-As-You-Go phone. I save even further by using Skype to call friends and family.
Limit clothing expenses. - Do you really need to buy new clothes or shoes every month? You can get some high quality clothes and certainly cheap ones from charity shops or from EBay.
Get rid of debt! - Eliminating debt is the fastest way to save money. You will avoid throwing away money on interest charges.
Track your expenses. - Create a spreadsheet and take a critical look at every expense. Try and be as detailed as possible. Now try and cut the expenses that you can live without.
Limit your nights out drinking. - Painful one I know! but nights out can really add up when you consider the cost of food, alcohol and taxis. Invite your friends round to your place for a home cooked meal instead!
Restrict eating out. - Cook at home and bring packed lunches to work instead. Buy food in bulk and explore cheaper food items. I am a big fan of ramen noodles which are incredibly cheap. You can make it into quite a healthy meal by adding vegetables, meat or fish.
There are many people that think that they cannot afford to travel, but with willpower saving for a trip is possible not matter what your income level is. Try not to get discouraged and don't give up; before you know it your travel fund will be large enough to fund your dream trip!