In order to travel, you have to save enough money, and this is often difficult to do. It doesn’t matter if you’re saving for an annual vacation or a multi-month trip, money always plays a part in planning and executing your trip.
Oftentimes not having enough money prevents people from travelling. Saving enough money for a dream trip seems impossible, so people give up on travelling.
Saving money to travel seems like a difficult task, but it doesn’t have to be. If travel is a priority, you will find a way to save enough money to do it. Sacrifices may have to be made, but they will be worth it in the end.
Travelling gives you experiences and memories that you would never be able to make at home. While you may have to forego a drink or two with friends, travelling the world makes up for anything you may miss out of at home.
Opportunity Cost
Whenever you make a purchase, weigh the opportunity cost of it. If you’re spending $50 on dinner and drinks today, you are giving up two nights in a hotel in China. Or tickets to a show on Broadway. Every time you purchase a $5 latte, you are giving up a ride on the London Underground.
Every time you spend money on anything, you have to consider what you are giving up. Obviously, there will be times when the opportunity cost is worth it. Groceries and rent are worth the opportunity cost on the other end. But when it comes to luxury items that go beyond your basic needs, opportunity cost needs to be considered.
Personally, thinking of the opportunity cost and what travel experiences I’m giving up has helped me when deciding if what I want to buy is worth it. If something isn’t worth losing a travel experience, then don’t buy it.
Buy Used and Save the Difference
This is a great way to save money quickly! If you need a new sweater, buy it on sale or at a second-hand store. If you saved $30 on your sweater, put that money directly into your travel savings account. It is amazing how quickly money will add up if you do this.
This technique can be used in all areas of your life. If you use a 15% off coupon at dinner, put the 15% saved into your travel fund. You save $7 at the grocery store, into the travel savings account it goes.
It can be difficult getting into this mindset at the beginning, but your travel accounting will start to grow quickly once you get the hang of it.
Get a Side Hustle
Getting a new source of income that solely goes into your travel account is a great way to save money quickly. Whether it is serving, becoming a virtual assistant, or selling your unused items on eBay, you can quickly increase your travel funds.
This requires a lot more physical effort and time on your part, but it will give you the best chance of saving money quickly. Especially if you’re already on a tight budget and aren’t able to save much money to travel from your primary income source.
There are plenty of online jobs you can do as your side hustle. These often give you more freedom to set your own hours than a traditional job, so they may be easier to fit into your schedule.
Working an extra job can be exhausting, but it will be worth it in the long run once you’re on your dream vacation.
Cut Out Unhealthy Habits
Unhealthy habits tend to cost a lot of money. Smoking, drinking, and eating junk food all damage your body while costing you money. Sure these activities bring you joy in the moment, but are they worth the extra money and bodily damage?
I’m personally bad for buying and eating way more junk food than one person (actually, probably three people) need. It is an expensive habit that costs me money that I could use to travel as well as money while I’m travelling (nightly snacks and mid-day cake breaks happen far too often).
If you’re able to cut back on these bad habits, you will have lots of extra travel money. Cutting back from a pack of cigarettes a day to half a pack a day will save you lots in the long run. Even cutting back on one drink per night out will help you save a lot.
Cutting back on these items will not only save you money, but it will also help your physical health. And the healthier your body is, the more adventurous travel you can have.
Conclusion
Saving money to travel does not need to be difficult; however, you have to commit to it. It takes discipline, but it is worth it in the end when you are on your dream trip.
You have consider each pre-trip purchase you make and decide if it is more important to you than a travel experience. You may have to miss out on some experiences at home. But the memories you make while travelling will be well worth it.
Your family and friends may not understand the choices you are making in order to save money to travel. But you can’t let them get you down.
If travel is important enough to you, you will find a way to save the money required. Yes you may have to make some short-term sacrifices or alter your lifestyle, but the end reward more than justifies any changes you make.