Many
people want to travel but hold back from accomplishing their travel dreams
because they are scared they cannot afford to travel. A bit of careful
financial planning goes a long way to allay these fears. Here are my tips
for saving as much as you can, as fast as possible.
There
are that many travel options these days that I really believe where there is a
will there is a way. I think the key to travelling in a way you are financially
comfortable with is to do a bit of research and then have a realistic think
about what you are happy spending. Don’t worry if it is not very much! Holidays in Crete and trips around South East Asia are still possible. The photo above is of me at the top of Mount Sinai in Egypt. I went to Egypt with almost no money and made it work. You can get to your destinations of choice too!
Save
before you go
Of
course the obvious way to be able to afford a trip is to save money before
departing. This can sometimes be easier said than done but even the thriftiest
individual can normally find a few ways to save a bit of extra money.
1. Firstly, if you have any
savings at all make sure they are in the most supportive account available. By
that I mean research the different savings accounts and varying interest
rates available. If the amount can increase, even by only a small amount,
without you doing anything, why wouldn’t you choose that option? Just make sure
you can access the money again when you need it. Some savings accounts insist
you do not access the money for a set period of time.
2. If you don’t yet have any
savings, open the savings account with the best interest rate anyway. You are
planning to need it!
3. Apply for a bank or credit
card that does not charge a fee when used overseas. If it is a credit card
remember to set up a direct payment to the card from your bank account so that
you do not end up in debt overseas.
Spend
less
Most
of us make small impulse purchases daily. If you were to note each little
purchase down for one week you would see how quickly these little spends add
up. It is possible to live comfortably without that coffee on the way to work
or that bus ticket for a distance you could have walked. There are often health
benefits to giving up these things too.
4. Stop making impulse
purchases. Try to remember to differentiate between ‘need’ and ‘want’ every single
time you purchase something. If you find it hard to resist buying things like
magazines, chocolate bars, makeup, fashion jewellery, drinks in the pub or
cigarettes, try to avoid encountering the temptation. Do not browse the shops
selling things you do not need and take a list to the shops when you need
things.
5. Trying to save money does not
need to destroy your social life; you just need to do things differently. Try
to limit the occasions you meet friends in pubs and bars. Alcohol is really
expensive. Catch up at someone’s house, start a regular dvd night, get together
to play a sport or go for a walk together instead.
6. There is no better time to
get environmentally friendly than when you are trying to save money! Check your
home for appliances that are left on standby, but which could be switched off
completely. Turn lights off when you leave a room, reduce the temperature on
your thermostat a few degrees, allow laundry to dry on a line rather than using
a tumble-dryer, take shorter showers and stop the water flow while soaping up
and brushing your teeth. Avoid wasting food too. These actions all reduce your
energy consumption and add up to a saving over time.
7. Set up direct payments from
your bank of any bills you regularly pay. The reliability for companies of direct
debits is often rewarded with discounted rates.
8. Another area people spend a
lot of money on is accommodation. While accommodation is obviously necessary,
the accommodation we choose when we feel settled in a place, the space we want
to call ‘home’ and all its comforts, can be an unnecessary expense when cheaper
options are available. Options include sharing a room with a mate, living in a
flatshare, couchsurfing or, dare I say it, moving in with your parents
(assuming they’ll have you!) for a much lesser rate than you would pay renting
commercially.
 |
| Saving hard was worth it when I got to the Bahamas |
Earn
more
If
you can increase your earnings perhaps you don’t need to be so thrifty in
preparation for your travels. One way is to put your spare time to good use. Be
resourceful and use your imagination. We are all different and there are things
you probably find super easy to do but which others struggle with. You can help
each other.
9. Approach your employer and
request more work hours. If you work full-time this may not be possible, but if
you work part-time or contracted hours this may be beneficial for your employer
as well as you.
10. If you work full-time or your
employer is unable to offer you extra work consider getting a second job.
Weekend work and evening shifts are often unpopular long term so work involving
these hours is often available. Make sure your original employer does not
object to you taking a second job though. Some employers can be a bit funny
about this.
11. If you have skills that are
in demand, or are simply prepared to do things other people have less time or
interest in, you may be able to provide a service. Services people require
range from household cleaning, ironing, gardening, private language tutoring,
website building, pet-feeding and dog-walking to babysitting. If you are a whizz
on Ebay offer to sell your friends’ stuff for a mutually agreed percentage. Let
friends know you are keen to provide these services and they will probably see
it as a great way to help you and may tell their friends about you too.
12. Are you crafty? If you can
make things people want, make them and invest a little in an inexpensive market
stall once a month to sell them and put your profits towards your travel
savings.
13. Have a clear out and sell
anything you won’t be taking with you on your travels and things you are not
happy to spend money on storage for while you are away (storage fees can be
high!) Garage sales are a cheap way to sell stuff you don’t need or want. Other
options are online trading sites such as Amazon, Ebay and Craigslist.
 |
| A fun night in Turkey with friends I met there |
How
long it will take you to save what you need depends on the amount you can save
each week and your ultimate target. Don’t forget that you have fewer regular
expenses while travelling so you may not need as much as you initially thought.
However it is always wise to be conservative where finances are concerned. This
is where careful pre-trip research helps as it means you can set realistic
goals.
I
hope my tips have helped. Let me know where you are saving to travel to in the
comments below. I’d love to know!
