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Do not surprising to know that most travel lovers people ask a common question, “how to save money for travel”. Every traveler may dream of jetting off around the globe, but the travel cost is a crashing reality. The reason for this reality is that most travelers do not have limitless resources.
Suppose you are wishing to travel to a new country with your family and trying to make savings from a few month’s egos. But after a hard-working of few months, you may have found your savings are quite slim. Is it heartbreaking?
Do not disappoint. Here we are with plenty of tips on how to save money for travel. These tips will help you to make a handsome saving for a fabulous summer getaway.
Tips on how to save money for travel
If you are very much worried about the budget for your next trip, then these tips on how to save money for travel will show you the path. Because all these tips have come from experienced travelers, who are already doing this.
Save for travel is not an instant-doing thing. You have to start your planning list a few months before your trip. Let us see the saving tips for travel.
1. Start with creating a savings plan
An excellent trip-saving plan should have five significant steps. These are:
- Wise assessment: You must compare your trip plan with your actual financial situation. Is it useful, or you are planning something unrealistic? Be honest and make a decision. Once you get a general idea of your overall travel cost, you can compare it with your income. Now you assess your income vs. expenses is in balance or not.
- Set your goals: Your savings plan should include some short-term and some long-term goals. Make a list of your goals in a specific number. If the number of goals becomes high, it is not a problem but does not make it too high so that it cannot kill your intensity for your big trip.
- Create a plan: This savings plan will direct you to accomplish your goal. It can remove your unnecessary expenses, add some additional income, and set a strict spending budget for meeting your goals.
- Implementation: Keep your plan active and maintain it.
- Keep monitoring your project: Over time, many of your habits may change. And it can also affect your savings plan. So do not forget to follow your idea after a certain period and scrutinizes your budget for necessary adjustment.
2. Be committed to your dream
Savings for travel is not an instant thing, do not forget why you are doing this and remind yourself regularly. You can put a map or image on the wall where you want to go. This will not reduce your intense desire in raising money for travel.
Saving cash is a long-term project and has to control your various small wishes to fulfill a big dream. It is indeed a tough job, but anyone can do it if they wish. Then:
- Try to earn some extra money
- Sell some unnecessary stuff
- Make your life simple
- Reduce your expenditure
- Get into habits of frugality
3. Track your expenses
When you determine to make saving for your upcoming trip, then first, you should track your expenses. Start tracking your daily expenses for one or two months long without changing your spending habits. After one or two months of tracking, analyze your recorded data.
Now modify your daily spending by cutting out unnecessary expenses. You can repeat this procedure for the next few months until you gather at least 90 percent of your total saving target.
There are plenty of apps that can help you to track your expenses. You can choose any of them.
4. Start a dedicated travel fund
You can create a new travel savings account with your bank and feed it regularly. Today’s banking is quite easy; you can transfer your money over from another account at any time. You can check your balance at any time. Make your savings handsome even if you can move just $5 only. Be habitual with it. Make it painless and natural.
5. Rent out your free space
Do not be shocked. If you have a spare space or a room in your apartment, then rent it out to a paying guest. Even if you have a couch in your living room, just rent out it. Trust me; it is a great way to earn a good chunk of money.
Many travel lovers do it before a big trip and make excellent savings to cover their regular expenses like food, rent, and utilities during travel. This means that the money you will make from the rent out will go straight to your savings.
6. Reduce your fancy coffee or other drinks
Is it heartbreaking to eliminate coffee from your life? Relax; we do not tell you to cut off your favorite drink completely. Just offer you to choose your drink from a comparatively low price list. Really we know very well that a coffee shop is an essential place for many people to work, study, and socialize.
So do not stop to go to the coffee shops to change your coffee shop with a cheap one. If you are able to cut at least $2 from your daily drink, then you can save $730 in a year. The amount of money is not too low, is it?
7. Sell your car
Sooth to say the car is one of the most expensive luxury items that you have and you may be spending plenty of dollars in a month on gas, insurance, and regular maintenance. If you use public transport or a bicycle or walk for work instead of your personal car, then you can save a high figure of amount every day.
It might be difficult and take a bit longer to use any other transport, but when you save a good chunk of money, you will forget all the difficulties.
On the other hand, as a traveler, you must have vast experience of using public transport so that you won’t have too much trouble. Moreover, your dream of traveling the whole world will be easy to make true.
8. Make your packing wisely
Take your time and make your packing carefully. Try to carry everything you need so that you do not have to buy them in a new place during traveling. Because without regular commodities, travel will not be comfortable, and many cannot share things with others.
In that case, you should always carry your used items such as shaving kit, toiletries, etc. from home.
Otherwise, you may have to spend a lot of money to buy these things while traveling. To make your packing ideal, check the international travel packing list. It will guide you through packing all those things that you may need for a global journey.
9. Move back to your home
Are you surprised to hear this very ‘childish’ advice? Trust me; it is one of the most effective ways to make significant savings for travel. You will be surprised for the second time when you see the amount that you will save after moving back to your family. The additional benefit of coming back home is, you do not need to cook your food regularly. Is not it amazing!
If it is impossible to think about going back to your home for you, then we have another idea for you. Why don’t you try to downsize your accommodation to make the cost half of what you pay at present? Even you can include your utilities also.
At first, you may find it a little bit annoying. But it is only a temporary decision and once you save enough money for your next trip, move on to your previous life.
10. Start cooking your food
Eating outdoors is a matter of high expense. In fact, cooking your own meal at home is not only healthier, but it is cheaper too. If you have a partner who is leaving with you, then it will be more comfortable. Offer your partner to cook food by tern with you. It will save both your money and time.
Make a list and purchase your groceries. Now start your cooking. You don’t need to be a super chef at all. Even if you do not know how to cook, then there are plenty of easy recipes on YouTube for a beginner. Besides this, various recipe websites and an experienced friend can be your best cooking guide.
11. Skip the spa for a few days
The spa is a luxurious service and is seriously expensive also. Massages, manicure-pedicure, and peels will cost enough. If you do not have the financing needed for your upcoming trip, skip the spa for a while.
Besides this, you can skip out on your few more short-term luxuries of self-pampering and save a significant amount. Once you arrange your travel expenses, go with your luxury services again.
12. Try to reduce your phone bill
Sometimes significant savings can be made to avoid small expenses. Start with shorting your mobile bill. Avoid buying any expensive device. Take benefit of office mail to share information with friends. If you are able to cut off at least $20 of phone bills per month, then calculate the amount at the end of the year. Isn’t the amount surprising?
13. Start doing a second job
It may be difficult for you to join another new job along with the previous one, and probably you will not like to do it also. But a second job is the easiest way to achieve your goal faster. Even just a few hours of your weekends can be enough for keeping a serious impact on your savings.
Are you skeptical of what your second job would be like that would pay you well and be flexible also? Well, here are some options for you: moving furniture, house cleaning, walking dogs, tutoring, bartending, virtual assistance, landscaping, babysitting, etc.
In fact, there are plenty of part-time jobs to do. You just check out craigslist and select one which will match you the most. And don’t forget, it is only temporary.
14. Bring the party to your home
We are advising you on how to save money for travel, and we are not telling you to sit at home alone far from the crowd. You need not avoid your friends while they are asking you for a party hand, having some fun. What are you thinking? On the one hand, we are talking about savings; on the other hand, we advise you to spend money with friends.
Actually, we are telling you to bring the party to your home.
Be a host of a movie night, game night, or whatever at your home. Buying some liquor or a few beers at the supermarket will not be so expensive. Even it will be more budget-friendly than going to the theater or bar hopping.
15. Stop or reduce smoking
Smoking is not only injurious to our health, but it is quite expensive also. Suppose you consume one pack per day for $5 then at the end of the year, it will be $1825. Even it can be more if you take something more expensive.
So it will be best if you stop smoking entirely and save money for your upcoming trip. If you cannot quit it, then at least you should try to reduce consumption until you can able to save enough. Both your wallet and health will thank you.
Do not think even to travel on borrowed money
Our last but not the list tip for traveling is never to go on borrowed money. As a traveler, you must know that travel can make your mind cool and fresh. After a life-changing travel experience, when you come back home with a mound of loan, you never want to face it.
The loan is very stressful, and you have to avoid it if you want to live a tension-free happier life. Even before you leave your home, never forget to pay your all monthly utility bills like paper bills, insurance, etc.
We have discussed plenty of tips on how to save money for travel. Anyone can easily follow these and make a chunk of money. Now here you have all the right ingredients for starting saving money to go for your next journey and make your all dream become a reality. So go for it and enjoy your savings.
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