Saving For a Trip? Here’s 6 Easy Tips:
If you’re thinking of saving for a trip, nice work! We highly encourage this type of behavior. Getting out and seeing the world is one of the best educations a person can give themselves. Travel will teach you more about the world, but also about yourself. So, congratulations on making the decision that you want to travel. Here are 6 simple tips to help you save for your next big adventure.
1. Set a Goal (And Stick to It!)
So you want to take a trip, but you don’t have the money? Saving for a trip is absolutely possible. The first thing you need to do is set a goal for how much you need to save. For some it may mean cutting back on spending, for others it may involve finding additional ways to make money. But for everyone with a goal, it’s doable.
When I was in 6th grade, I learned of an opportunity to travel to Europe with the 8th grade Spanish teacher. I was determined to go. My parents thought I was crazy. They couldn’t afford to pay for me to take a 2 week trip to Europe. I was 12 years old and had 2 years to reach my goal of saving $1,500. So, I got my soccer referee license, my softball umpire license, upped my babysitting hours, and started treating loose change like gold. I did it – I reached my goal! If a pre-teen girl is capable of saving for a trip, anyone can do it!
2. Stop Eating/Drinking Out
Eating out is part of the culture in many places in the world. Limiting your meals out can feel like a way of ostracizing yourself, but trust me, it’s not that bad. Maybe try eating breakfast and brewing your own coffee before leaving the house each morning. Pack a lunch to work everyday. Perhaps, limit your brunches and dinners out with friends to just 1 or 2 times a week. Invite friends over for drinks before going out so you don’t need to buy as many overpriced cocktails. For all you know, your friends might jump on this saving train with you and thank you for all the extra cash they have at the end of every month.
3. Downsize Your Monthly Bills
Know what you’re spending your money on. Take a look at all your monthly bills and figure out what you can survive without. Can you get rid of your expensive cable, and use Netflix and/or Hulu instead? Have you considered switching to a cheaper mobile phone plan? Are you paying too much for your car? Can you get a roommate or move to a smaller/cheaper place? Don’t stay stuck with expensive bills. Rob sold his fancy new sports car and bought a basic used car instead. He cut his car payments in half and his insurance went down. Because of this, he was able to take his first European Vacation with his buddies.
4. Get Control of Your Credit Card Debt
Stop the bleeding! Credit Card debt is a financial black hole, so pull yourself out of debt quicksand now. There are so many credit cards offering 0% interest for 1 to 2 years on purchases and balance transfers. Check out Wallet Hub for some of the best 0% interest credit cards for 2017. Wallet Hub showcases the best cards based on your credit ratings. If you can cut out the amount you’re paying every month in interest, you can pay off the principal much faster. Most importantly, this will help you pay off your balance before you start earning interest again.
5. Limit Your Luxuries
This may seem easy, but its easier said than done. There’s always something going on, and always something new that you want. Learn to say no. Be a little more choosey about which events you participate in, what concerts you go to, how much you spend on new items, etc. That new purse my be super cute, but is it necessary? Do you really need another pair of shoes? Choose between the summer music festivals and pick just 1 this year. I know it’s hard, but the experiences you’ll have traveling the world will more than make up for what you gave up.
6. Get An Additional Job
I know, I know, no one wants two jobs. But, if you work extra hard for a short time in exchange for getting to play extra hard in a new land, I promise it will all be worth it. Besides, an extra job doesn’t have to be that bad. If you’ve got a car, consider driving for Lyft. Turn one of your hobbies into some extra cash. For instance if you play dodgeball, do some work for your dodgeball league, or if you’re into yoga, get a part time job working at your favorite yoga studio. Have fun with it and remember a second job is a means to a happy ending.
How are you going to save money for that next big adventure?!?!?!