I want to dedicate this post to people who love traveling, but couldn’t do it due to lack of funds.
I think it’s not that tough to save money for traveling. You just need to find out the financial loopholes and fix them.
Here’s what you can do to save money to meet your traveling expenses:
1. Dedicate a savings account for travel expenses
Keep money in a savings account and use it only for travel costs. It’s the easiest way to save money for vacations. Have ATM access so that you can withdraw money while traveling.
Or, set up an automatic money transfer with your dedicated savings account.
2. Sell items that you don’t need
Take a home tour and find out things that you no longer use. Then sell those items in a garage sale or online shopping portals like Amazon, Ebay or Craigslist. Selling unnecessary things can boost your travel funds.
3. Avoid spending frantically
If you have a habit of buying latest gadgets or newly launched garments, you’re actually wasting money unnecessarily. If you continue purchasing uncontrollably, you wouldn’t be able to save for traveling expenses. Moreover, you’ll hurt your overall financial health in the long run. So, think twice before buying a single item.
4. Save smartly on utilities
You can stack more money by reducing utility bills. For instance, get your cable and internet connections from the same service provider and ask for additional discounts. Or, look for ways to save money on water bills, and so on.
5. Hit the stores with a shopping list
We tend to spend more when we don’t carry a shopping list with us. Never go out of the house without a list. This is not all, you also have to stick to your shopping list and avoid impulsive purchases.
6. Limit your Starbucks visit
If you visit the Starbucks on a daily basis, a certain amount of money goes away from your paycheck toward it. You’re unnecessarily wasting your precious dollars by visiting Starbucks regularly. Even if you do so, find out how you can save money at Starbucks. Or, make your latte at home.
7. Cook your meals at home
This is a surefire way to save loads of money. Whenever you’re cooking meals at home, you’re spending less on restaurant foods and drinks (which are damn expensive). Eating home cooked food is good for both your wallet and health.
8. Make a monthly budget
Budgeting is the best way to save money. If you haven’t drafted a budget yet, do it immediately. You can take the help of a financial planner if you’re unable to make one for yourself. Or, if you already have a budget look for areas to cut down expenses.
Moreover, try to make a realistic budget.
9. Use inexpensive modes of transportation
Maintaining a car is too costly. You have to pay for the insurance, gas, parking, maintenance, and more. Instead of using a car, look for cheaper modes of transportation like opt for public transport or ride a cycle to your work and back home (using a cycle is good for your pocket and health as well), and so on.
10. Earn more money
The more the merrier. I know it’s not a way to save money, but you’ll agree with me that earning more money will help you find extra funds for your dream trip.
Besides your regular job, pick up a part time job like freelancing, babysitting, and so on to earn more.
Remember, “a penny saved is a penny earned.” So, whenever you’re booking hotels or flight tickets, make sure to look for ways to reduce the cost (if possible).
Traveling is pricey, but there are multiple ways to save money if you’re willing to make adjustments in your lifestyle.
Do you know some other ways to save money for traveling? If so, then do leave a comment below.
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Categories: Personal Finance