Introduction to Ways To Save Money For Travel
While most of us love to explore new places to satiate the travel bug within us, the fact that traveling costs a lot of money may restrict you from planning your next trip.
With the availability of limited resources, the idea to take frequent trips. But what if there were ways to save money for your travel experiences? Yes, you read that right.
It is possible to save money for traveling, provided you exhibit creativity, determination, and some amount of delayed gratification. Even though saving money can be a challenge, the payoff is worth it.
Once you’ve saved enough money, plan your road trip like never before, pack up luggage on the roof rack, and get ready for a lifetime trip.
Are you feeling tempted already? Here are five creative ways for you to start saving money for your next fantastic trip that you have been dreaming about for a long.
1. Reduce On Your Bills
In order to save money for traveling, you need to eliminate or somewhat reduce your not-so-important expenses. You can save a lot of money by reducing your car usage.
Try to use public transport, shared cabs, or walk to your destination. Avoid going to salons and spas for some time. You can even pause your gym membership for a few months and work out at home.
Reduce your electricity, water, and internet usage. Watch movies at home and snack on some home-made popcorn instead. All these things may seem difficult to do at first, but they will help you save a good amount of money.
2. Open A Separate Account For Travel
Having a separate bank account for your travel expenses helps in many ways. You can keep your savings safe if you put in all that money in an account.
You could add a fixed amount of money daily, weekly, or monthly, as a little goes a long way. You can also opt for automatic transfer that will make things easier for you.
Keeping your existing savings in an account would also help you resist the temptation of spending it. Also, it is an encouraging sight to see the amount of your deposit increase gradually. Not to forget, the quarterly interest on the principal amount will add money to your savings even before you know it.
3. Learn To Cook & Eat In
Old habits try hard, but you can at least give it a shot. Dining in at restaurants and cafes is loved by all, but alas, it comes with a price. However, if you are determined to save money, altering your dining out or party habits can make a big difference.
Learn the art of cooking. Think of all the dishes that you love ordering at restaurants and try finding the same recipes online. You can also invest in a cooking book to try out recipes.
Set up a cozy corner with fairy lights, scented candles, and comfortable seats at your place where you can have your meals to get that restaurant feel. You can spend the money that you save by eating at home on your next travel tour.
4. Exercise The Power Of Saying ‘No’
All of us want to hang out with our friends, have fancy food, and shop till we drop, but let’s not forget that it isn’t entirely healthy to do so, especially if you’ve been trying to save some bucks.
Thus, it would help if you learned to say “No” to many fancy plans and dresses that you like. Rectify your habit of impulse buying and know the difference between a want and a need.
You will save a good amount of money if you do not fall for things that are on sale, or an ad that may pop up while using Facebook or Instagram.
This is where delayed gratification comes into play. Imagine how
happy you’d feel when instead of making multiple purchases, you wait up and spend your money on an experience that’ll stay with you- that is, your trip.
5. Collect Rewards On Your Credit Card
Most banks offer great deals if you use their credit cards for shopping. The only thing you need to know and remember is to pay off your credit card bill every month else it’ll only add up to your expenses.
Use your credit card wisely wherever you can, to make payments like while buying groceries, clothes, shoes, paying for essential bills, booking tickets, hotels, etc. You will not only save money but will also get additional rewards that you can redeem later.
Eugene Fodor rightly said, “You don’t’ have to be rich to travel well”. These five creative, yet simple ideas convey the same. Executing them will help you save enough money for your next trip.
The most crucial thing while saving is to keep a proper record of your income and expenses. Planning is the key, so plan your trip 12-15 months in advance in order to get enough time to save for it.
Compare the rates of hotels and flights on various sites to get the best deals and discounts. Booking your flight tickets four to five months prior will really cost you less.
Prepare weekly and monthly budgets and remember to follow them religiously. The smarter you become with handling your finances, the more you will be able to save, and more savings will lead to more fun in the vacation. Happy traveling!