How to save money for Your Next travel and vacation – Tips and Tricks
There is a popular belief that Vacation is expensive and only meant for the rich. This is a myth and it’s never true. However, travelling cost money just like every other in life but with proper planning, you could achieve your dreams and goals of touring and travelling the world.
If you’ve been daydreaming about travelling to this lovely destination. You’ve done your homework of researching the place and you are probably fantasizing about visiting. Then it dawned on you that you don’t have the money to fund the trip. This is usually the case for most people. However, with proper planning, you can achieve your dream vacation.
Before you do anything in life it is important to count your cost, do a budget of how much it will cost. Once you do this, you can start working on ways to fund the budget. You don’t have to be very rich to visit a destination or tour the world. You just need to be smart, creative and conservative in your spendings
There is this crazy myth that travelling is expensive and only for the rich but guess what? I have good news for you. That is a BIG FAT LIE. Travel only seems expensive when you don’t plan for it. I used to feel the same way too until I started travelling and touring. Then I realized trips that I would have thought would cost me thousands of dollars only cost a few hundred dollars. Ever since my mindset about travelling has changed forever.
Tips to Save Money For Your Next Travel and Vacation
Here are some proven ways to save money for your next trip or vacation.
Change Your Mindset About Travelling
Change Your Mindset About Travelling: Firstly, before anything can be done it has to start from your mindset. If you think it is impossible it will always be impossible. However, once you think It can be done and you set your mind and work towards it, you will achieve it. Once you change your mindset about travelling then soon, you will definitely be able to save and afford such trips.
It doesn’t matter whether you want to hike the tallest mountains of the world, visit the Seven Wonders of the World, stroll the ancient ruins of Rome, the UNESCO World Heritage Sites or a romantic getaway with your spouse if you believe you can do it, you will achieve it. So change your mindset Now!
Count Your Cost – How Much do You Need to Save for your Travel
The second step is to count your cost. You need to have an idea of how much it will cost you down to the last penny. If you will be going by flights, bus, driving, would you be staying with a friend or at a hotel? These are all the factors you need to consider when planning. Once you are done with you costing and have an average amount in mind. You should also factor in miscellaneous and extra money then you can start planning and working towards ways to fund the budget.
Set up a budget
Once you have an idea of how much the trip would cost. You need to draw up a budget and do a plan on how to fund the budget. Set up a monthly budget about your spending and expenses. Keep track of every expenditure and find ways to cut down your expenses by setting a monthly limit on your expenditure. This could also mean you cutting down cost and changing your lifestyle.
Change your lifestyle
When it comes to savings, you need to watch your lifestyles very well. We often engage in some activities that doesn’t on the long term add value to us and these activities would not ensure a proper saving culture. You need to cut off every activity that will not make you achieve your travel goals. We all have that one bad habit or activities we engage in that are always taking money away from us. It could be excessive shopping, eating habit, social lifestyle, hanging out with friends etc. Note if this travel means a lot to you, you should be able to deny yourself some immediate gratification just to save enough for your dream travel destination.
Open a Dedicated Travel Fund Account
Open a dedicated travel and tourism account where all the funds you need for your travel is deposited. Based on your budget, you can break it down monthly where you set aside a particular sum of money into your travel account. Work out a plan that makes it easier to save money in your travel fund. You need to set aside an amount monthly towards your travel goals and make sure you are dedicated and stick to funding the account. You should also make it a habit to always transfer free cash into such account on a regular basis.
Automate your Savings
Once you are sure about the amount you intend to save on your travel account monthly. Activate a direct debit on your account where a particular amount is debited from your account daily, weekly or monthly. This goes directly into your Travel fund account. This would ease the stress of manually transferring the money into your account. It will also ensure you stay disciplined on the monthly savings.
Get Rid of unnecessary subscriptions
We all subscribe to one or two of those internet subscriptions that we don’t really need or can do without. You need to cut down on some unnecessary subscriptions like cable TV, web service etc. You may subscribe for a lesser package or cut it off completely. Get rid of non-active gym subscriptions and other internet related subscriptions like Netflix, Spotify, etc or sign up for lower subscriptions.
Cultivate an Investment and Savings Culture
When it comes to planning for travelling you need to cultivate an investment and savings culture, this will go a long way in ensuring you have enough money to fund your travel. For example, once you save to a particular lump sum, you could put the funds in an investment account or invest in an investment package which will ensure maximum interest on your investment.
Create other sources of Income and investment to Save for your Next Travel
Another way to save for next your travel is to create other sources of income aside from your regular income that will ensure you always have excess money to fund your travel. Earn Extra income from a Side hustle and you can also diversify and increase your sources of income through investments opportunities. I have a friend who travels yearly from the extra income they generate from sales of puppies yearly. They have two lovely Samoyed Dogs and other breeds and once the dogs’ litters. The money generated from puppy sales is what they use to fund travel yearly. Another example, most of my travel income comes from the money I make from my freelancing gigs.
Try Connecting Flights
Direct flights are known to be a lot more expensive, however, they are faster. But if you want to save money and also if you are a fan of adventure, You may want to try connecting flights this will automatically increase your travel time also involve stop over at different countries giving you an opportunity to visit many countries at no extra cost. This is another travel goldmine that many are yet to tap. It gives you the opportunity to visit different countries while on a single trip. Some airlines also offer free hotel stay with complimentary breakfast while waiting on those trips.
Travel off Peak Periods
We all know the law of demand and supply takes effect during peak periods. It will be more advisable to travel during off peak period this is will reduce the cost of tickets and the cost of accommodation across the different tourist destinations.
Book Your Tickets on time
It is often known that when you book your tickets on time or far from your travel date, you get a very good discount on the tickets. Make it a good practice to always book flight tickets on time.
Cut Down on all expenses
Its time to cut down on all unnecessary expenses like social outings, cable TV, eating out. Become more prudent in your spendings, cut off everything that may increase your expenses. Cook at home and buy foodstuff in bulk. Other expenses like airtime, data, shopping, clothes, gadgets should be cut down to only things that are needed and necessary. This is another great way to save for your next trip.
Travel with a Friend/Travel Buddy
It is often cheaper and less expensive when you travel with a friend or travel buddy, you can share resources like accommodation, logistics, food etc some tourist destinations give discounts to couples or pairs. This will also make the travel experience much more fun.
Join a tour Package
Another way to save for your next travel is to join a tour package, there are several companies around the world that offers tour packages to different destinations. You can book a tour package which is usually cheaper compared to when you go alone.
Tips To Save Money During Your Vacation / When You Travel
Above are ways to save money before you travel, however, it wouldn’t make sense after saving a lot of money living a simple and prudent lifestyle only to go and blow it on a trip and not spend wisely. Here are simple tips to save
1. Have a list of activities to do and stick to your plans: One of the biggest challenges most tourists have is the ability not to stick to their plans and budget when they travel. This often happens because they saw something interesting to do or buy something which they didn’t initially plan for
2. Have extra cash for contingencies: It is always advisable to budget extra cash for contingencies or occurrences you never planned for.
3. Look out for cheap hotel or hostels: Instead of renting a very expensive hotel accommodation, you could get an affordable hotel or hostel or off the town cheaper hotel which will save you lots of money. You can also try cheap accommodation on Airbnb.
4. Eat Street Food: Rather than eating from expensive restaurants, you can decide to eat Street food which is usually cheaper and less expensive than restaurants.
5. Another way to save funds is to find things you can buy and sell when you get back from your trip.
6. Avoid Visiting Tourist Sites peak periods: During peak periods the cost of travelling generally increases so it may be more expensive during these periods.
7. Engage in Free Activities: Look out for free activities that don’t cost money and engage
8. Use affordable means of transportation: When you travel to make it a habit to use the public transportation system this will save so much money.
9. Eat from a local restaurant: You will save a lot of money when you eat from a local restaurant rather than eating from fast foods and restaurants
10. Look out for flight and hotel offers: Always be on the lookout for a cheap flight and hotel deals. You can also make use of hotel and flight comparison websites.
11. When buying use coupons and promotions: Look out for coupon and places that offer promotions and discounts.
12. Sleep On your trip: This is an easy way of saving. If you are going on a 5-day trip. Instead of going by day and arriving at night, you can decide to do the direct opposite. Travel by night and arrive at your destination by day that way you have enough time to sleep on your flight and won’t have to pay for a hotel for the first day.
13. Avoid buying items close to your tourist destination: It is generally known that items sold close to tourist destinations are usually overpriced. An easy way to save money Is to buy items far from the tourist places.
14. Learn to bargain: Bargaining is another way to save money. Do not accept any price from locals, they often give tourist prices to tourists. Therefore, learn to use the power of bargain to save money.
15. Use free wifi: Save money by using public free wifi at the hotels, on the bus, at the cafes, restaurants, bus stops and at the airports.
16. Travel to countries where your currency is stronger: When you travel to countries with the poor currency you tend to save more because you have more buying power.
17. Do a road trip: Road trips might take longer but they are known to be more affordable than flights, you may want to consider taking a road trip
18. Camp Instead of paying for accommodation: Another way is to camp instead of paying accommodation fees.
19. Sign Up for Loyalty Programs: Signup for rewards and loyalty programs which will save you money in the long run. Some hotels and Airlines offer loyalty programs which accumulate points which is redeemable after a while.
20. Travel smart: Avoid carrying so many luggage which could attract extra cost, airlines charge extra when you exceed the minimum weight you are supposed to carry.
21. Go Incognito When Searching for Flights: When Booking for flights always Use incognito mode this is because airline booking sites use the cookie to track your visit each time you revisit their site, thereby increasing the price every time you visit. The best way is to go incognito so they don’t know you are revisiting each this will ensure you are getting the best deal every time.
Even though when you travel, things often do not always go as planned, however, before making any financial commitments, be sure this will not affect your overall travel spending. Act Smart and spend wisely.