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How to Save Money for Travel


Want to travel the world for a while? Or just take an epic vacation? You dont need to be rich, but youll need to get creative about saving money for travel. Heres how I did it.

Theres a popular myth floating around that travel is an expensive hobby. Certainly people who travel a lot must have rich parents, lucrative lottery winnings, or work high paying jobs right?

Normal people cant afford to travel! Its far too expensive for the rest of us

Dont worry, I understand where youre coming from. I used to think that way too. As an American who didnt even know what a hostel or GAP year was, I thought international travel was only for the rich and privileged.

But after traveling the world extensively for the past 7 years, Im here to tell you world travel is possible for the rest of us too.

After countless emails from readers asking about how Im able to travel the world constantly, I wanted to share some useful tips about how I learned to save money for traveling.

Because in the beginning, before I was earning a living as a blogger, I had to save up on my own. It didnt come naturally either. In fact I used to be horrible at saving money.

When I quit my job in 2010 to embark on a year long adventure in Central America, I wasnt rich. I was living in South Florida earning $28,000 a year working as a photographer for used car dealerships and nightclubs in Miami.

Saving for travel

Incredibly glamorous, I know!

Even with my very average (American) income, and living in a pretty expensive area of the country, I managed to save $7000 in 12 months by transforming my lifestyle and living below my means.

I learned how to spend less, save more, and earn extra cash on the side.

It wasnt easy, and required plenty of hard work and sacrifice, but if I could do it, Im confident you can too. It doesnt matter if you want to travel for two weeks or two years, the process is the same.

Heres my simple formula that will help you save money for your next trip.

Saving Money Advice

We All Want More Of This

Become Financially Responsible

This isnt intended to sound judgmental. We all start here. What did school really teach you about financial planning? For many of us, not much.

Money management is a learned skill but most of us dont master the basics until were adults if ever. I was clueless for a long time.

If you want to save money for travel, now is a good time to revisit those basics, and maybe iron out a few of those bad financial habits we all acquire along the way.

Remember that this is a marathon, not a sprint.

You are making a significant long-term commitment thats sometimes going to be really hard to stick to. Saving up enough money for travel, or anything for that matter is tough on the soul and demands sacrifice, which is why so few people succeed. The right mindset is everything!

How much do you want this? Because nobody else will make it happen for you. Its YOUR responsibility the whole way.

Equally importantly, how many times are you willing to try and fail until youve successfully learned all the habits and strategies that will put the required amount in the bank to get you traveling?

Good. I think youre ready for this then! (Just dont expect it to be easy.)

You dont have to be rich to travel well. ~ Eugene Fodor

Track Your Spending

Money itself isnt stressful. Neither is effective money management. Not knowing what your money is doing? Being afraid to check your bank balance? Thats where all the stress happens.

The solution to this is simple.

Put aside a day this weekend, buy your favorite bottle of wine (youll need it), and go through all your accounts to find out EXACTLY what your finances look like, down to the dollar.

Tracking expenses is an important part of learning where you can cut back, or even eliminate your spending.

I know, youve probably heard this before. But have you actually done it? On a regular basis? Its a powerful way to identify how much money you piss away every month on random crap you dont need.

Write it ALL down. How much do you spend on food each week? Dont forget to include groceries, eating out, bottled water, and snacks. How much do you spend on entertainment? Movies, books, music, sports tickets, dates, etc.

What about vices like alcohol, cigarettes, and coffee?

What are your monthly bills? Rent, mortgage, utilities, car payment, insurance, credit card interest, cell phone service, gym membership, student loans, etc. Dont forget miscellaneous shopping either. Video games, clothes, pet toys, etc.

Now, grit your teeth and look it all in the face. You may be surprised at how much youre spending. Little things tend to add up. This isnt an easy thing to do, I know. Thats why you might need that wine.

But it becomes a lot easier if you approach saving with the right attitude. Youre not here to judge yourself or wallow in regret. Take your feelings out of the equation because theyre not needed.

This is simply about awareness. Youre looking your financial situation right in the eye and saying, OK this is where I am. This is where I need to be.

If youre like me, building this kind of awareness, and tracking everything, takes time. Thats the nature of habits you dont suddenly change your behavior overnight.

That is how a saving journey goes one of our members who now benefited with our program.

Join us here and start your journey travelling the world for free.

This article was published on 11.06.2020 by Jiloron Bin Makunton
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