It goes without saying that traveling requires you to have some money to pay for accommodation, transport, food, and other leisurely activities that would make your trip memorable. However, you don’t have to be rich to have enough money for traveling. There are ways for an average person to save enough money to afford an enjoyable trip from time to time. So, if you feel like you could use a vacation soon but you are not in the best financial situation at the moment, here are a few tips on saving money that might help you.
How to Save Money for Travel
Set the budget
Before you start saving money, you need to determine how much money exactly you need to save. So, decide where you’d like to go, and do your research. Choose your accommodation, look into the prices of groceries and meals in restaurants, check if there are any excursions you’d like to sign up for, etc. After planning your itinerary, you should be able to come up with an estimated budget for your trip. This should help you see how much you need to save every week in order to have enough for your vacation.
Decide on your needs and wants
The next step is to write down every cent you spend during one week as well as what you’ve spent it on. Once you do that, separate your needs from your wants – and stop spending money on the wants. A good way to think of this is not as actual saving but rather “future spending”, so you don’t feel like you are depriving yourself of anything. You simply have a different “want” for the next few weeks, and to get it, you have to think of it in advance.
Adjust your spending habits
Photo by Allef Vinicius on Unsplash
Related to the needs and wants, you might consider your morning coffee a need, and you definitely do need to have lunch at work – but that lunch can be made before work, and that coffee can be both cheaper and less frequent. In other words, we often spend money on little things that might seem insignificant on their own, but at the end of the month, they still add up.
So, for example, you can start planning and preparing your meals in advance and eating your own lunch at work, which would also be much healthier. Moreover, pay attention to the brands and labels when shopping for groceries. Sometimes, you can find something that is both tastier and cheaper, just doesn’t have that attractive label.
Once you know how much money you need to save every week or month – put the money aside as soon as you get your paycheck, and more importantly, don’t touch it. Moreover, if you know that most of your future trips will include traveling by plane, you should also get an Asia miles credit card, which can help you save a bit on the transportation part. If you haven’t already, this is also a good opportunity to open a savings account, since you’ll probably be saving for trips more often once you get the hang of the whole process.
Putting your money in the account right away will be a great mental boost for you, as you’ll actually see your money grow and yourself getting closer to your dream. Another thing you should do is set a weekly budget for yourself, and stick to it. If you end up with some extra money, you can either carry it to the next week, or add it to the account. Either way, you would not feel guilty about it.
Keep your eyes on the prize
You will inevitably be tempted to spend during the saving period. Perhaps you will see some amazing jeans that would be perfect for winter, or maybe you’ll find a gorgeous pair of shoes. When that happens, think about how much that would set you back. Do you really want to postpone your trip for 2-3 weeks because of one pair of jeans or shoes? Probably not. Another thing you should do is change your phone background to the photo of your trip destination. This would be a constant reminder of your goal, and it would be especially helpful if you’ll have to be saving for longer than a month or two.
Traveling is often considered to be a hobby for rich people only. However, you really don’t have to be rich to afford a vacation to any destination in the world. You just need to have a good plan for saving money and a lot of patience, depending on how much your dream vacation would cost. So, think about the listed tips, start planning your next vacation, and stay focused on the goal. You’ll be soaking up the sun on that beach you’ve been dreaming about in no time.
Featured Photo by Michael Longmire on Unsplash
Perform this process as you describe it for a trip to Europe, and the truth is I have the habit of organizing a budget and planning. Traveling is an incredible experience.