No matter if you are a tight budget traveler or love to visit the most exclusive resorts or saving for heli-skiing in canada. The following steps on how to save money helped me to reach my goal of saving money for a longer journey and so I wanted to share my tips on how to easily save money for your next travel adventure. I am aware, that there are already so many posts and articles on how to save money for your dream holiday, but nevertheless I would like to share my experiences and thoughts on how to to save as much money to fulfill your dream. I am sure there are some thought you might take into consideration. So here are my little secrets to success:
1.First of all you need to know what for you are doing it for.
Is it the journey of your lifetime, exploring the world with a round-the-world ticket? A three weeks surf holiday at a fancy surf camp on the Maldives? A weekend trip to New York including a lot of shopping? Some of the most integral parts when saving for something in the future is to have a vision of what you are working towards, this will also help you imagine how cool it will be and plan for it.
2. Another step is to set yourself a goal.
How much money do you wanna save? How much money are you gonna need? Try to do a rough calculation to have an idea of what you will need. This will lead you to how long it will take you to save up to that amount. To me it was always the goal to have € 10.000 to start a bigger travel adventure for a longer period of time. It took me almost 2 years, but I think this is a pretty good timeframe 🙂
3. Next to discipline and a great power of endurance you always have to keep the anticipation alive.
Do treat yourself a little bit from time to time e.g. with buying a travel journal, the waterproof shoes you always wanted or other things you will REALLY need on the trip – OR, what is even better: simply take some time to plan your trip. As mentioned in point 1, having a picture in your head helps a lot – you can even do a collage of your destination(s) and keep it as screensaver on your devices! There are so many ideas – Pinterest is your friend 😉
4. Actually really save money.
The following points are, what I did to save money. Of course this is not a complete list, there are for sure a lot more things you can do. Let me know in the comments what worked best for you!
- Stop buying “coffee to go” in the morning (or any other time!) It is very expensive on a long term basis!
- Don´t loose control when partying. Only take a certain amount of money with you. If you don’t drink alcohol it is even cheaper. Skipping going to expensive clubs is even better. Stop partying is how you will save the most 😉
- You really don´t need that pair of sneakers just because it is hip. NO! You already own sneakers! (This is my little weakness – shoes!) But no matter what you buy, always ask yourself: Do I really need that?!
- Stop ordering food – cook! Whatever you cook for dinner will be perfect to take with you to work on the next day for Lunch. If you did not cook something ahead you could easily get some snacks from the super market which is still cheaper.
- Stop smoking.
- Cancel subscriptions. (Do you really read 3 magazines per month?)
- I thought about moving in a shared flat but did not do it. However this is also a easy way to save money.
- I stopped coloring my hair and I´ve never been into make up that much, but girls, this also takes a lot of your money away.
5. Start a daily refundable savings account at your bank just for travel savings and stick to the following routine:
- Book € 100,- or whatever amount you like (but not too much!) to your saving account automatically at the beginning of every month. This will help you to continuously save money every month.
- Book the rest of the money that is on your checking account at the end of the month to the travel account – every month! You did not spent the money this month, so you will not need it in the next.
- You could even start to think like this: “This week I did not buy the usual 3 coffee to go and usually I order food once a week but this week I did not, this is about € 20,- so I will transfer that amount to my savings.” It will feel like a little success whenever you look up that account and see how it is growing.
6. Start earning money especially for that purpose:
- Take a part time job which is flexible and which does not influence your primary job. e.g. working at a bar, freelance in whatever you are good at, do some baby or dog sitting, help as a cleaning person,… there are a thousand options!
- Sell stuff you don’t need anymore. To me this was my car. I always had one. I was so used to it! But the costs were immense and honestly: I am living in a city. I can go everywhere by using the public transport or even by bike. You just have to get out of your routine 🙂
Last but not least: START NOW!
What are your tips on saving money for your next travel?