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10 Jan How To Save Money For Travel

Even though travelling can be done on a budget, it still requires that you have some money. Transportation, food, accommodation — all of these call for funds that you have to have before you can books flights, hotels, and other things before you even head out.

So, if you are serious about starting your round-the-world trip soon or even just going on a week-long hiking trip in the next town, here are some tips on how you can get your finances up and ready for your upcoming travels:

Open a savings account dedicated for your travel budget.

While many people simply rely on whatever amount of money they have in their accounts once their travel date draws near, this should not be your approach if you want to create in advance a detailed itinerary with expected financial costs.

Opening a savings account where you can keep money that is solely for your travel plans is a methodical and systematic strategy that can take you closer to your dream of exploring the world. Go to a reliable and trusted bank in your area and apply for an account that comes with an ATM card and online banking feature for easy access wherever you are.

Decide on an amount to transfer to your savings account every pay day.

Once your savings account is ready, you need to start funding it. The most convenient way is by setting up periodic automatic transfers from your payroll account, whether weekly, bi-weekly, or monthly.

Sell some of your belongings.

Do you have fairly new clothes that do not fit anymore or textbooks that are just gathering dust in your basement? Why not sell them to second-hand shops or online to earn more money for your savings?

Cut your daily expenses.

To expedite the growth of your travel savings, why not assess your day-to-day life and see which expenses you can lower or even completely get rid of?

If you are a coffee lover and you cannot function without gulping several cups of coffee throughout the day, forget about buying your caffeine from coffee shops that sell these overpriced. Look into homegrown, organic brews that you can find in supermarkets. Buy a cheap but sturdy thermos or mug where you can pour your homemade coffee in for consumption in the office.

If you eat out a couple of times a day, you should know that the costs can pile up to several hundreds of dollars in a month, which is an amount of money that you should want to be IN your travel savings account. Thus, learn how to cook. Search for websites that feature recipes that are easy-to-prepare, affordable, healthy, and nutritious.

And, do you really need cable TV if you already have internet? Can’t you find some online streaming sites where you can watch your favorite sports team or TV series? What about your phone? Does your carrier offer cheaper data plans? Think about the answers to these questions and find ways to still get the entertainment fix that you need by considering free or cheaper substitutes.

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