“I would love to travel, but I just don’t have that kind of money.”
A statement I hear so often my eyes are permanently rolling.
In my conversational experience, far too many people believe they need to spend an arm and a leg in order to venture off to a new land. Meanwhile, these same people are going out for expensive dinners, furnishing their houses with designer furniture, and filling the deep void in their souls with retail therapy.
What i’m so sensitively trying to say here, is that the ability to save money for travel comes down to one thing, PRIORITIES.
If your priorities in life include purchasing a house, finding a stable job, and producing 2.5 children, then all the power in the world to you. However, if that lifestyle just isn’t for you, you want to poke around the globe a bit before you make the aforementioned happen, OR you’re jazzed to live the best of both worlds, then let me explain how finding the dough to book that trip is easier than you realize.
Table of Contents
- Here are 8 Easy Ways To Save Money For Travel:
- Split your budget into “What I Need To Survive” and ” What I Can Live Without”
- Stop eating/drinking out
- Collect Rewards Points
- Ditch the malls and thrift
- Automate funds into your savings account
- Stop spending unnecessary funds on beauty
- Purge your apartment
- Tighten up your electricity usage
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- What are some of your favorite money saving tips? Leave them in the comments below
Here are 8 Easy Ways To Save Money For Travel:
Split your budget into “What I Need To Survive” and ” What I Can Live Without”
“Look for the bare necessities, the simple bare necessities; forget about your worries and your strife. I mean the bare necessities, old mother nature’s recipes that bring the bare necessities of life!”
What I Need To Survive: A roof over my head, food, public transport, toiletries, cell phone, electricity, internet, etc.
What I Can Live Without: Gym membership, car, cable, home phone, new clothes.
A big tip for saving money on the necessities, is buy generic and, if you can, in bulk. In reference to the things you can live without, exercise outside, take public transport, ditch the cable for online streaming, and realize we are living in the 21st century and you probably don’t need a home phone.
Basically, think of all your expenses and brainstorm how you can cut back on costs.
Stop eating/drinking out
A $2.00 coffee a day = $14/week = $56/month =$672/year.
Do you know what $672.00 sounds like to me? A return flight, that’s what. Either nix the caffeine habit, or opt for making coffee at home and take it with you in a travel mug.
The same concept applies to eating out; why spend $30 on a meal in a restaurant when you can make several meals at home with that money. Suffering from serious FOMO? Then hold a potluck at your house, you’ll get to stuff your face in the company of your friends, and some of them may even leave food at your house! Thats like spending negative dollars, yay!
Collect Rewards Points
Also known as ‘travel hacking’ for the big leaguers in the house. I may not have a credit card rotation that I use to periodically collect major wads of sign-up points, but I have saved serious bank over time by collecting Aeroplan, Airmiles, Indigo, and Shoppers points, among others.
If you’re a frequent flyer, be sure to check and see if your favorite airline has a points plan you can sign up for. Plus, if you sign up for a points plan through a credit card, you earn points on every credit purchase you make.
If you don’t do this, you’re basically throwing away money and we can’t be friends.
Ditch the malls and thrift
First of all, the clothing industry is one of the most wasteful, environment-destroying industries on the planet. If you haven’t seen the documentary The True Cost, regarding fast fashion, I recommend you do so immediately.
Second of all, do you REALLY need that brand new $60 shirt? Lately I have spiced up my wardrobe by leaving the crowded mall experience in the dust, and instead have been hitting up thrift stores and clothing swaps!
Plus, I have taught myself to be less wasteful and repair my clothes. For example, when a heel wears off one of my boots, I no longer go out and wastefully purchase another pair, I take them to the cobbler’s! My methods are environmentally friendly, money conscious, and believe it or not I don’t look like a hobo!
Automate funds into your savings account
On a monthly basis, I have my bank automatically transfer $100 from my chequing account into a savings account I have allocated for travel. Once you get used to the money not being readily available, you won’t miss it.
Then, one sunny morning when you least expect it, you’ll wake up, look at your bank account balance, and see that you have enough money for the Sri Lanka trip of your dreams. Voila, you’re welcome, my commission rate is 10%.
Stop spending unnecessary funds on beauty
I, Taylor, confess freely and openly that I have not colored my hair in 2+ years and that all trims are done by my mother. Additionally, I paint my own nails and groom my own eyebrows. All of this means I spend time on myself and still have a happy wallet.
I’ll admit I do miss the hairdresser gossip though (ha, that’s a lie).
Purge your apartment
Most of us have random items lying around our pads that we have no use for anymore.
As the old adage goes, “What’s one person’s trash is another person’s treasure!” If the item is good quality, sell it online, hold a garage sale, or trade it for a bottle of booze and a flask so you can sneakily skip out on a pricey bar tab (just kidding – don’t get your knickers in a twist).
Tighten up your electricity usage
My dad tells me that unplugging appliances when I’m not using them will only save me pennies a year, but I do it anyway (for the environment if not for my wallet). And if I’m not in a room, then you bet your bottom dollar there will not be a light left on.
The biggest struggle I have with this concept is because I live in a very humid city come summer, my little air conditioner is my best friend. I have pretty much programmed myself to control the temperature in my sleep though, so it’s all good.
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