How To Save Money For Travel
So you’re ready for a getaway but the finances need a little TLC? It’s a familiar story among travelers. We’ve all been there. The question is how do we start saving? These are our best tips for bringing your trip vacation to life!
1. Create Awareness
The first step on this financial journey is to start tracking your spending. If you use a credit or debit card, this is made pretty simple by just looking at your statement on a regular basis. If your spending is a bit more complicated, there are plenty of apps out there like Mint and YNAB (You Need A Budget) that will organize your spending habits and show you where your money is going. This breakdown will help you find the app that best suits your style.
2. Consider Your Habits
Now it’s time to get real with yourself. Look at your daily habits, like that morning latte at your go-to coffee shop where they know your name. Start making your coffee at home and take it to work in a to-go cup. If you do it Monday-Thursday, you can reward yourself on Fridays so your barista knows you’re still living. This mindset is appliable beyond that cup of coffee. Find any ways you can save and start saving. It’ll start adding up quickly!
2. Cut Your Cost Of Living
If you’re thinking of long-term travel, consider your living situation. Do you need that big apartment all by yourself? Could you live with a roommate for 6 months for the cause? Think about your transportation choices. If public transportation is an option that’s available to you, think about selling your car. No more car payments, no more car insurance, and no more expensive fill-ups and repairs. Many cities offer car-share services that include all of the above in the hourly rental rate, so you can still take advantage of the freedom of a car when you need it. Inflate the tires on that bike that’s been hibernating in the corner and use it. Cook at home instead of going out or buying to-go food. You can easily save up to $200 or more every week by prepping your own lunch and taking it to work. That’s $800 a week!
Saving money sounds hard, but can be pretty simple. The daily sacrifices you’ll make to save cash will pale in comparison to the possibility of never taking the trip. Sometimes it’s about just making the commitment to go, and the rest will follow.