How to Save for Travel: 6 Tips to Save Money For Adventures
Guest post by Magdalene Omiojieahior.
Many of us wish we could travel and see all the places. However, for many, this goal also seems like a mere wish.
How can I afford to save for travel from my very low income? Sometimes, this income is barely enough to pay the bills let alone extravagant travel.
I feel you.
However, it is possible to achieve your travel goals no matter your income. It just takes a plan to work towards your travel goals. In this post, I’ll share how to save for travel no matter what budget you’re on. These tips are super easy to implement and will make your travel goals achievable. Ready to travel, explore, and live your best life? Let’s get into it.
How Much Money Should You Save for Traveling? (Hint: You Need a Travel Goal)
The first step to saving for your travel is to have a travel goal. You need to have an idea of where you want to travel to and how much it will cost you.
If you know the cost, you can start saving towards your travel goal. With the total amount and your set time frame, you’ll get an idea for how much you need to save monthly or weekly to meet your travel goals.
Also, having travel goals in mind helps you know that your plans are actually doable and how long it could reasonably take you. Plus, if your income savings will not be enough, you can figure out how to raise more funds to boost your travel savings.
6 Tips for Saving Money for Travel
Now that you know your travel goal and have an idea of how much it’ll cost you, it’s time to do the actual saving!
Make a Budget
When you know how much you’re making versus how much you’re spending, it gets easier to know where you can cut corners and save more. Sure, you may have a general idea of how money goes into your account, then magically disappears by the end of the month, but do you know exactly what you’re spending it on?
If not, it’s time to get serious about your budget. There are many bank or accounting apps you can get right on your phone that can connect with your card, or you can go slightly more old school and manually enter your spending into a Google sheet template like this.
Set Up an Account Towards Your Travel
It’s easier to track your savings progress if you have a separate account for your travel goal. This way, as you receive your income, you can send money directly to this account monthly or weekly and not even consider spending it.
This is easier to do if you have a budget already in place (hint: read above!) on how to spend your income. Once you know your minimum expenses like food and rent, you can set aside a certain amount to this account. A good baseline would be 5-10% of your income to this account if possible.
Once that money is in your travel account, it won’t feel like as much of a temptation to spend it.
Cut Back on Eating Out
I’m exhausted after work, so I rarely cook when I get home. That means I often eat out or order takeout. Okay, this is tasty food and less work for me, but it adds up monthly and takes a large part of my monthly income.
To save for your travel, you can cut back on eating out and put this money towards your travel goals. Cooking your own meals is often cheaper than eating out and can be just as delicious (and often healthier). Then, put the money you’ve saved into that travel account!
Sell Unused Items
You know that closet full of stuff that you never use? For once, that stuff can actually be helpful! You can sell items that you don’t use anymore and put that money to your travel savings — clothes, homeware, shoes, that old bike your kid grew out of 10 years ago…
I love to use this method to boost my travel saving budget. If you have things you don’t use anymore, (honestly, who doesn’t?) it might be time for some spring cleaning and a garage sale (or Facebook Marketplace sale).
I love thrift shopping. I’ve found so many rare gems and high street clothes from thrift stores. Instead of shopping your regular high street fashion or fast fashion brands for clothes, opt for thrift clothes instead — it’s cheaper and often more unique anyway.
This can help you spend less on clothes and save more for travel. You can also do the same for home decor, furniture, or other similar items. Before you hit up IKEA, maybe check out some yard sales, your local thrift store, or Facebook Marketplace and see if you can find a good deal. You may be surprised what you find for much less money!
Save Pennies in a Money Jar
Did you have a piggy bank as a kid? Well bring that little piggy back!
I love to save little pennies here and there into my penny jar. You won’t believe how much this can add up to at the end of the year.
When you go out or go grocery shopping and use cash, put those extra pennies and change you get back into this jar. This can also be a great New Year’s resolution strategy to start up in January and end in December.
At the end of the year or when you need to travel, you can add this to the rest of the money you saved. It may not be a massive contribution to your savings goal, but every little bit helps and you can add it to any miscellaneous spending for your next trip. Use it to shop souvenirs or to get that post-hike ice cream.
Once you’ve hit your travel savings goal, it’s time to get traveling! If you want a fun, all-inclusive trip, come adventure with Explorer Chick.
Explorer Chick Bonus Saving Tip!
Our Explorer Chicks (that’s you!) get an extra money hack to help you get traveling with us. If you need an adventure vacation ASAP, Explorer Chick offers payment plans for trips so you can tailor a monthly payment plan that works for you.
Simply email firstname.lastname@example.org after booking to set up your monthly payment plan.
Meet the Writer
Magdalene is a fashion and lifestyle blogger and owner of the Trendsenstylez blog. She loves to travel, shop for fashion items and dish out tips on how to live your best life on a budget.