Brief Overview
It’s no secret that the majority of us would like to see more of the world, but the question is: how can you afford to do so without sacrificing your current lifestyle? Somewhere recently I read that most millennials would give up McDonalds, Netflix, shopping, and football in favour of traveling. So, if you wanted to travel around the world, what would you give up?
In order to help you save for your ideal vacation, we have developed a list of simple ways to do it.
The budgeting advice, side hustle ideas, and money-saving techniques in this post will help anyone get their financial house in order.
Start making small changes today to help get you to save money for travel and get you to your destination of choice this year!
Plan your travel budget
Decide where you want to go and then determine the total cost of travel and the weekly spending money you will need. (taking into account local transportation, accommodation, food & drink and leisure expenses).
When you have an idea of how much money you’ll need, you can look at your monthly budget (or make one) to calculate how long it will take to save enough. Even if it seems like you won’t be able to save enough money at first, try not to stress about it. You can use the advice given below.
Cancel needless subscriptions
Evaluate each of your monthly charges by asking the following questions. Honestly, do you need them?
You should probably cancel your satellite or cable TV plan if you use Netflix more than any other service.
Are you getting sufficient value from your subscriptions to keep them active? Having a membership to a fitness centre is a good example. If you’re only using your gym membership every two weeks, it might be time to stop.
Do you think there are less expensive options? While it’s convenient to have a Gusto box delivered to your door, you can get far better bargains by visiting your neighbourhood grocery store.
Keep an eye out for offers in shops
If you want to save money on your next grocery run, it’s a good idea to do some comparison shopping online before you head out the door.
As an example, you may discover that the crate of beer you meant to purchase at your usual retailer is 50% cheaper at a different one. Also, the store where you’ve had your eye on some new threads might be running a bargain the week after you make your decision.
When planning a trip, doing your own research is essential to lowering costs.
Limit online purchasing
Limiting your online purchasing is one additional method to reduce your carbon footprint and free up cash for travel.
It’s very simple to blow your budget when you’re sitting in front of a computer or mobile device; all it takes is a few taps, and your new stuff will be on its way.
Too many customers are disappointed with their purchases and must send them back. All that effort and cash are for nothing.
When you pay with cash in a physical store, you can more easily keep track of your spending (because you can physically see the money leaving your hands) and get a feel for the goods you’re purchasing.
Set up a direct debit to your savings account
A wonderful way to save up for a trip is to establish an automatic transfer to your savings account every month. You should get in touch with your bank immediately if you haven’t already.
Do not touch this money until your trip. It doesn’t matter how much or how little you can put away each month; consistently saving something can help your funds increase over time.
Swap or Borrow
It’s possible you don’t even need the thing you’re craving. If you need a new dress for a party but know you’ll only wear it once, borrow one from a friend instead of spending money on one.
You can get rid of things you no longer wear and acquire new ones to wear at no cost by hosting a clothing swap party with your friends.
In the same vein, why invest in luxury goods you rarely use when you can simply borrow them instead? As an alternative to purchasing a hedge trimmer from the garden centre, consider borrowing one from a friend or neighbour.
Save on energy bills
Finding ways to reduce your energy consumption and costs is yet another topic worth investigating (easier said than done at the moment) The expiration of your current contract with your present supplier gives you an opportunity to make a change.
Check online to see if you can find better prices or if any providers in your area are offering specials to new customers. Learn to reduce your consumption of fossil fuels, electrical power, and water to save money and help preserve the environment.
Make packed lunches
Bringing your own lunch to work instead of buying from the vending machine or local store will help you save a ton of cash that can be used towards your next adventure.
Some calculations put the annual savings at over a £1000. That should be enough money to get you to wherever it is you want to go.
And if you can make a wonderful sandwich at home for a quarter of the price, why spend £5 on a prepackaged one that lacks flavour?
Create home restaurants
While enjoying a meal out from home can be a wonderful treat, the cost can add up quickly. Make an effort to reduce your dinners out and instead organise a network of home restaurants with your pals.
Alternate who prepares dinner, but make it a memorable occasion each time. Make it seem like you’re dining at a restaurant by posting the menu on a blackboard, lighting candles, and serving wine the right manner.
You’ll have a great time and earn some extra cash for future adventures.
Buy generic brands
Branded goods aren’t worth the premium price tag. After all, having a recognisable name on the packaging costs significantly more. Generic versions of popular items like over the counter medicines, cosmetics, and grocery essentials are often identical in quality to their name-brand counterparts.
Plan meals and shop once a week
Meal prepping and weekly grocery shopping are two other ways to save money for travel.
Create a shopping list with all the necessary items by figuring out what you want to make for the next week. You should go to the supermarket with the list of essentials.
Don’t get sidetracked or give in to temptation; just complete what’s on the list. If you go to the grocery store once a week instead of every few days, you’ll save money by not buying as many unnecessary items.
Do It Yourself
Try your hand at DIY projects or mending old items before shelling out cash for replacements. Do it yourself skills can be learned by searching the web for video lessons.
Do you wish you could replace your tired old dining room table? Maybe you could give it a cool new hue instead.
Looking to get rid of a pair of jeans with a ragged hem? Why would you do such a thing? Cut them off at the knees to make a trendy pair of shorts.
Use alternative transport
Consider taking a walk or riding your bike if it’s possible to reach where you’re going instead of calling a taxi or hopping on a bus. And before you take off on that lengthy drive, you might want to check with friends and family to see if any of them are headed in the same general direction. Aside from the obvious financial benefits, this mode of transportation is also better for the planet.
These are some very effective ways if you want to know how to save money for travel in advance, but certainly not the only ones.
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Other Budget Related Guides
Be sure to check out our other exciting guides related to Budget travel:
Do you have any money-saving tips to share with us and help other readers save up for their next trip? Let us know in the comments!
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