It is true that anyone on any budget can travel internationally. All it takes is the decision to make it a priority, and some discipline when it comes to finances. If you want to speedily increase the amount available for you to travel, here are 14 simple ways you can save for your next trip.
1. Open a Travel Fund Bank Account
If the money is hard to for you to take out, it’s harder to spend it on things it’s not meant for. A simple way to save your hard-earned cash for an adventure is to tuck it away in its own, personal bank account. While you’re at it, look for one with good interest rates so your money increases over time.
2. Have Your Goal Set
Are you saving for a European backpacking adventure, or for a week of consuming all-things-boba in Taiwan? Know where you want to go and what you’re saving your money for. That will make the trip so much more real and easy to picture when you’re turning down other things to save up for it.
3. Brew Your Own Coffee
If you’re an avid coffee drinker (like me), you probably saw this one coming. $5 here and there at coffee shops add up over time and take away from a potential travel fund. Instead of going out for it three times a week, put that $15 in your travel fund bank account and watch it grow. If you’re looking at us saying, “$15 won’t help me all that much abroad anyway,” there are several destinations where that equals a night of lodging.
4. Stop Spending on Little Luxuries
A candy bar near the cash register, a bottle of soda from the office vending machine, the dollar section at Target – all those little expenses add up to big money spent each year. These expenditures are coined as “Phantom expenses” because people don’t remember where that money went, as the price tag was so small. Those little luxuries can add up to the trip that has always been on your bucket list.
5. Meal Prep
Many spontaneous decisions made to go out for lunch or dinner happen because there isn’t anything to eat at home. Cut the costs of restaurants from your budget by learning to cook and spending a few hours each Saturday or Sunday meal prepping for the week ahead. You’ll eat cheaper, healthier, and enjoy your meals as you think about the adventure to come.
6. Write Out Your Shopping Lists
And stick to them. Make it a goal to only get what you really need from the store. While you’re there, give the generic brands a chance.
7. Get Thrifty
Buying second-hand can help you save so much money on the things you need – and why pay more for the same thing, anyway? Head to the clearance sections of stores, purchase things used on Amazon, and visit your local thrift stores for bargains on the things you need.
8. Check Your Phone Bill
You may be paying for far more than you use. Look at the fine-print of your phone bill and downgrade if you’re paying too much for data.
9. Reconsider Monthly Subscriptions
You might subscribe to Hulu and Netflix but only ever use one or pay per month for Spotify when a free account might be all that you need. Look at your monthly bill to make sure everything you’re spending money on is actually used.
10. Stop Drinking
Or at least cut back. Even though millennials make up just 25 percent of the national population, they purchase 35 percent of all beer and 42 percent of all wine produced in the United States. If you drink just a bottle of wine at home a week, that’s an average of about $1,500 a year you could put toward a tasting in Italy to make it all worth your while.
11. Utilize the 10-Second Rule
Before you purchase anything that isn’t a direct need, take 10 seconds to consider why you are purchasing it, and how that money could otherwise be used as you travel to your bucket list destinations.
12. Take Advantage of More Freebies
Cutting expenses doesn’t mean you can never leave your home again. Do some research on free things to do in your area or invite friends over for a game or movie night. Grab your entertainment from the library when you ditch those unused monthly subscriptions. Rethink what it means to go out and learn how to have fun in different ways.
13. Make Your Own Gifts
Or give the gift of labor. Think about what you’re good at and how you can translate that into making instead of buying gifts for friends and family as you save. Babysitting, photography, house cleaning, sewing, and lawn work are just a few talents you can utilize for gifts.
14. Don’t Bow to Impulse
Impulse purchases are expensive, and often unnecessary. Before you fork over $50 for the latest gadget or outfit, wait for two weeks. Weigh the pros and cons of the purchase and you’ll be a lot less likely to regret it down the line.
We said simple, but that doesn’t necessarily mean saving will be easy. Traveling is a commitment and a worthwhile one to make. The experiences you can have overseas are worth so much more than binge-watching that show on Netflix ever could.
Interested in planning a trip that fits in your budget? Contact the experts at TRAVELSMITH and get started planning today.