7 Easy and Smart Ways to Save Money for Your Travels
I can’t stress this enough. Travelling must be part of everyone’s journey and the world is so big and full of surprises, full of different cultures and experiences to live. Travelling makes you a better and a happier person. Every single one of us know it. And yet, I’ve met so many people my age who never left their hometown. Why ?
The simpliest way to get out of your routine is to start building your future. And we agree that with money, it is easier to do it. But don’t freak out, you do not need a million dollars to do what you want.
If you’ve never traveled before or if you are planning to go on another trip, I gathered all my knowledge to create for you the ultimate guide to saving money.
1. Don’t buy extras.
Do you really need this cute top from your favourite shop when you already have dozens of them ?
Do you really need to buy a coffee or a lunch when you can make it yourself at home ?
This is the question you need to ask yourself and trust me, the little things make the big difference. Do you need it ? Or do you just want it ?
If a coffee may cost $5, it’s also the price of a meal in Bali.
So yes, it hurts. You have to take time for cooking your own meals, making your own coffee, skip shopping, say no to your friends when they ask you if you want to go out. But when you check your bank account at the end of the week and realise how much you still have and how much you can save, you’ll thank yourself.
2. Take a percentage out of your paycheck and put it into savings.
It is a bit more interesting for people who are working full-time as the percentage will be a bit bigger but it can definitely be useful for anyone.
After your bills, try to find out how much you can save per week or per month and commit to this number. I am very disciplined with my savings, I do not allow myself to put away less than $250 per week.
If I’m working part-time, it will of course be less but even if it’s only $40 a week you’re able to save, stick to it. You’ll really thank yourself later and when the time will come for you to enjoy your trip, you won’t have to worry.
Some people use the Synchrony bank that take the percentage out automatically after every paycheck, so they don’t really have to take care of it and they don’t feel they’re missing the money.
3. Use a money jar.
It is probably the most popular trick for saving. Dropping a bit of cash on a regular basis in this little jar definitely adds up. Put a minimum of $2-$5 into this jar as often as possible and within 6 months, you already saved at least $500. It doesn’t seem like a lot, but if you combine this by following the simple advice I just gave you above, guess what ? You’ve tripled the amount.
Another smart thing I heard some people were doing with the money they drop in their jar, is that they convert it to the currency of the country they want to go. If you decide to do it this way, you are not tempted to use it before your trip, you don’t have to pay conversion fees twice and you just watch it grow. You just need to book your flight and your spending money will be already in your pocket !
4. Open an account just for travels.
I always recommend to have multiple accounts. This way, you feel organised and you know exactly how to spend your money. I personally have 4 accounts. One for my bills, one for my superannuation, a check account and my savings account. I’m even meant to create a « vacation » account to separate it from my savings which will only be used for emergencies. This way, everytime I will check my vacation account, I know it’s only going to be for fun.
You don’t need to transfer loads of money on it, but start by putting away $50-$100 a week or every fortnight and watch it grow. You will be amazed how fast it does.
5. Use apps for money saving
This is perfect for people who have trouble managing their money. Don’t get me wrong, it’s okay to « not be good at saving money », that’s why there are plenty of apps that exist to help people make it happen and deal with their finances.
I did my own research and out of probably 30 different apps, one of them caught my attention, and it turns out a lot of people who travel quite a lot are already using it.
This app is called Digits : it is an Iphone app that analyzes your income and spending patterns and automatically transfers a small amount of money from your checking into a savings account every couple days. This app is well-known to be very passive, useful, efficient and doesn’t hurt the everyday expenses.
6. Do odd jobs.
It doesn’t sound super fancy but it’s still a good way to save money. And money is money, no matter how you earn it. There are plenty of small jobs you can do depending on your preferences and how hard you are willing to work. Pet/House/Baby sitting, dog walking, tutoring, yard work, newspapers delivery are easy and flexible side-jobs you can do for cash.
Donate bodily fluids is also a way to make a decent pay depending on what fluid and how often you donate.
You can also fill up some surveys online to fill up your pocket in return, you will probably have to answer very personal questions but if you don’t mind it, this option is always available.
If there is something you are really good at, you can offer your services on freelance.com where people pay you do to a specific work for them. It can be writing, video editing, translation, etc…
Use it to your advantage and save the money you make from these odd jobs for your travels.
7. Sell some stuff !
Everyone has things they don’t use anymore. Sell it ! Clear out your storage area by selling your old household items, books and clothing.
If you are a handy person, create some arts and crafts and sell them online !
You can also get some cash from the local recycling center by collecting your bottles, cans, bags, newspapers. Good for the environment and your wallet !
If you have some gold jewelry you don’t want anymore, go to a store and ask if you can sell it to them. Who knows, this bracelet you have is probably worth a few hundred bucks !
That’s it now, you know everything, you can plan your next trip ! Exciting isn’t it ?
Eileen – Pretty Little Mantras