If you’re interested in traveling twice as often as you normally do, continue reading to discover a variety of proven tips on how to save money to travel.
How to Save Money to Travel:
1. Learn to prioritize making new memories over purchasing luxuries
You’ll find it far easier to save for an upcoming trip if you make a conscious effort to prioritize saving for your trip over purchasing luxury items such as designer shoes, alcohol or a brand new smartphone.
Remember that in ten years time you’re unlikely to remember every pair of shoes which you purchased but you will remember every trip you treated yourself to. After all, how can a $200 pair of shoes compare to riding a camel through the desert or taking a hot air balloon ride over a stunning white sand beach?
2. Set up a separate bank account for your travel expenses
If you often end up spending your disposable income on takeaway coffees and drinks with friends, one way to ensure that you don’t waste all of your disposable income is to create a separate bank account for your travel expenses. Once you start to see your travel account grow, you’ll become more motivated to save for your next vacation and will be more likely to put every spare dollar you have into your new travel account.
3. Arrange for monthly automatic payments to be transferred to your travel account
Once you’ve set up a separate bank account for your upcoming trips, you may want to use your internet banking to set up an automatic payment from your primary bank account to your travel account, each month.
4. Spend time with friends who also share your passion for travel
If most of your friends waste their money on going to the movies and going out to restaurants and bars, you may want to start spending time socializing with individuals who love travel and who also prioritize saving for trips over splashing out on expensive nights out on the town.
As you’ll be able to socialize without breaking the bank by enjoying hikes, hosting barbecues and dreaming about your upcoming trips, with your new travel-focused friends.
5. Record your outgoing expenses for a month
It’s well worth recording every cent which you spend over a month, in order to see which areas you waste unnecessary money on. After all, it’s difficult to cut down on your spending, if you’re unaware of your monthly spending habits. If you’re interested, you may want to download a budgeting app for your smartphone, which will make tracking every dollar you spend a breeze.
6. Commit to saving a certain percentage of your income towards travel
Just as it’s important to commit a certain percentage of your disposable income to your savings, it’s also well worth committing to save at least 15% of your income to travel.
In conclusion, if you’re passionate about travel, it’s well worth following the six proven saving tips listed above, in order to travel twice as often as you currently do.
