Cambodia been on your mind? Have you been daydreaming about Ibiza? With daily flights and cheaper deals, more people are traveling more than ever. But with most people two common obstacles still stand in the way of embarking on their dream trip– not enough money, and not enough time.
Although it might not seem that way now, the problem of seemingly not having enough money is much easier to solve. Saving for travel is an attainable goal for anyone, and if you are prepared to make a few temporary sacrifices, then you too can have the experience of a lifetime!
Where in the world will you go?
When planning your dream holiday, it’s important to remember that not all holidays are created equal. Meaning, a week-long trip to Vietnam is not going to cost anywhere near as much as a week-long trip in Iceland. To estimate your holiday budget, there are two critical things you need to know to estimate your holiday budget: the destination/s you will be covering, and the time period that you plan to cover the destinations in.
- Do you not care where in the world you go, considering you don’t touch down on home soil for a solid six months? Than a backpacking adventure through South-East Asia might tickle your fancy.
- Or do you have your heart set on a lavish tour around France’s Loire Valley? Then maybe it might pay to opt for a two week stay instead.
Buckle down and make a plan
After estimating your holiday costs, you will need to make a budget that will make sure you are able to save this amount within your chosen time frame. I know, budgets may seem confusing and boring, but when saving money for any big goal, they are necessary. The first step to creating a budget, is first ensuring that it covers the essentials – expenses that help keep you alive (like rent, food, bills) and any expenses that you need to pay to meet your obligations (debt payments, etc.)
- Consider using a comparison website to find out if you’re getting the best deal for your electricity and water.
- When it comes to food shopping, a weakness for many of us, one helpful hint before hitting the supermarket, is to be organised and know what you want before you get there. This involves meal planning, writing down a detailed grocery list, and as hard as it may be – sticking to it.
- After covering your necessary expenses, you need to be saving at least the minimum weekly amount needed to hit your holiday budget. A simple way to work it out, is to take the estimated costs of your holiday and divide it by the number of weeks you still have left to save.
Cutting back without cutting out
After meeting your necessary expenses and minimum travel contributions, it may feel like you have nothing left in your bank account for fun and all the little treats that make life worth living. But even if you only have $10 or as much as $100, you can still stretch it to make sure you are making room for life’s little treasures.
- One way to make a small amount go a long way, is to reprioritize what really makes you happy. Think about it, do you live for your morning coffee but only buy lunch because you can’t be bothered to make it everyday? To keep yourself satisfied, consider cutting your coffee down to three or four days a week and choose to pack your lunches at home, at a time that is most convenient for you.
- Another way to stretch your dollar is to find cheaper or even free alternatives for activities you enjoy; do you love dining out? Maybe inviting a group of friends over for a potluck will leave you equally as happy.
Bring in extra cash
No matter what way you look at it, saving for travel on one income is hard. If you have been following along with all the steps so far, you have done all you can to cut back on your expenses. But you can only cut back so far, which means it’s essential you are also earning extra income to boost your travel savings. Thanks to the web, there are so many quick and easy ways to make money.
- They range from the easy – like completing surveys and data entry.
- To the more challenging, some examples include:
- Drawing on your passion for a specific niche to start a blog.
- Using your in-demand skills to become a freelance writer/editor/proof-reader/or web designer.
- Take advantage of your creativity to start your own store on an online marketplace like Etsy.
- For the truly dedicated, you could even consider taking up a part-time job that fits in neatly around your current full-time job. Like maybe delivering newspapers in the morning before work starts or driving for Uber in your spare time.
It’s important to remember that saving for a big goal like travel does involve some sacrifice, which might mean cutting things you enjoy out of your life temporarily. But remember, it will teach you a level of discipline that you can exercise whenever you want to meet a big savings goal, or when the all-consuming itch for travel strikes again.
What’s your top tip for saving to travel?
Written by Vicky Evans
When she is not thinking about her next overseas trip, Vicky can be found with her head buried deep in a book, writing, or binging on Netflix. Her obsessions include adorable cats, interior design, and indulging in ALL the sweet things.