There are many ways to save money for travel, whether you are planning to travel long term, saving up for a big holiday or want to celebrate something special. Travel can be expensive so saving money is important so you don’t get into debt. Here are some ways to save money for travel so you can have the best time possible.
Firstly you need to think about your budget. If you are booking a package holiday it will be easier to work out your costings, but if not you need to write down the cost of flights, transportation, accommodation costs, admissions to attractions and the cost of food. Sites such as Trivago can help you get the best price for your accommodation, then go to the hotel direct to see if they can beat the price. Add it all up to get an idea of the cost of the holiday. You can even try housesitting to keep your accommodation costs down, we’ve done it and it was a fun experience.
If you are planning to travel long term, research the cost of living in the countries you are planning to visit and go from there. Once you have an idea of how much you have to save and in what time period then the hard work starts. Work out how much you have to save every month until you reach your goal.
Look At Your Incomings And Outgoings
Look at your incomings and outgoings to see how much you can save without any changes to your budget. Can you save easily or do you have to create more income and cut down on outgoings?
Shop around for everything. There are many comparison sites out there that can help you save money on your utility bills, on your phone bills, on your food bills, your insurances and your car breakdown. Never automatically renew any of these, and always try and haggle when they come up for renewal if you are going to stay with the same company.
Cut Down On Everyday Spending
If you’d normally have 5 coffees out a week, cut it down to 2. You can eat out less, go to the cinema less, shop for clothing less, and only have essential hairdressing appointments. Do you have memberships or magazine subscriptions that you can cancel, if so then do? You can read many magazines online for free. Only buy things you need rather than want, although allow yourself a small treat now and again so you don’t go mad and splurge as a reaction to cutting back too much.
Sell Everything You Can
Car boot sales are a very underrated way of making money. Alternatively, you could sell your unimportant or unwanted possessions on sites like eBay or Gumtree. Try Facebook selling groups for another way of selling your unwanted goods or local FreeAds.
Look at ways of using your car less to cut down your costs, perhaps look into car sharing for work. Look into cheaper ways of travelling, can you cycle or walk to work, can you use public transportation?
Look At New Ways To Make Money
Can you take a part-time job or make something to sell online? Many bloggers sell courses or E-books that can be a new income stream. Affiliate marketing may be one way to up your income too if you have an online site. Look at websites and blogs that can help you save money and make money too. I like to read Emma Drew for inspiration.
Examine Your Bank Account
With a bit of comparative research, you may learn that another bank can offer higher interest rates on your savings and/or a signing on bonus, so switching bank accounts may help you save money for your trip. Track your everyday spending too so you know where every single penny goes. Take out cash from the ATM and work with cash only so you can see where every pound is spent.
So here are some ways on how to save money for travel, do you do any of these?