Tips For Saving Money For Travel

Tips For Saving Money For Travel

The difficult part of planning a holiday is finding the money to be able to take off on that holiday. If you are not living with your parents, have a mortgage and a family to support, then an overseas holiday might seem to appear a little out of reach. Dont let your travel desires be something that is forever left in the too hard basket. Here are 5 tips you can start doing right now to revive any travel dreams you may have.

Make the decision to travel   

The first step is to actually make the decision to travel. Research destinations you would like to explore, the style of accommodation you are happy with and how long you should travel for. This will determine what your budget will be. Obviously you will need a longer savings plan if you want to travel for a couple months rather than two weeks.

Open a separate bank account

If you are serious about travelling, then you need to get yourself on a savings plan as soon as possible. Open a separate bank account specifically for saving money and set up a regular      
automatic payment to go into this account. If you put aside $50 a week you will have $2,600 by the end of 12 months. If you don’t miss the $50 then maybe you can up the amount. If you run into a bit of trouble and need some cash then you are still able to draw from the account, which can give you peace of mind.

Identify wasteful spending

One reason that often sabotages our chance to get ahead in the saving stakes is that we are   
spending on incidental or forgotten items each week. Cutting out that daily takeaway coffee, or
bringing lunch from home rather than buying it each day can help with savings. All these add up quite quickly when you look at it over a week. To put it into perspective, foregoing the coffee alone for a week can cover the cost of an entrance fee to a tourist attraction.

Entertain at home

We all know that a night out can easily burn a hole in the hip pocket, with both meals and drinks being quite expensive. Rather than avoiding your social group all together, you could entertain your friends at home. You could be become very creative yet savvy in your own kitchen. Save that money you would have used for going out, for dining out on your holiday.

Travel with friends

There are various ways to make travel cheaper and travelling with friends is a great way to keep under your budget. Hotel or apartment costs can be at least halved when travelling with others. If you are alone or a couple then hostels are a great budget option. There are plenty of other discounts to be found when travelling in groups. Train travel, tours or other tourists attractions can offer generous discounts if booking as a group.

 

Written by: Wendy Kerby of www.traveldrinkdine.com

 

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