Few people ever manage to go on the travel adventure of their dreams. The problem isn’t so much finding the time to do it – though that’s an obstacle for many as well – but finding the money to pay for it.
Few people don’t dream about taking a trip someplace far away. Whether it’s to a tropical island, ancient city, or untouched wilderness a continent away, we all fantasize about exploring and experiencing a world away from our own backyard.
Despite the ubiquitousness of this desire, few people ever manage to go on the travel adventure of their dreams. The problem isn’t so much finding the time to do it – though that’s an obstacle for many as well – but finding the money to pay for it. With round-trip airfare and multiple nights in hotels representing just the starting costs of a dream trip someplace exotic, saving up the funds is the biggest challenge in turning a travel fantasy into a reality.
With that said, saving for a trip of your dreams is not impossible. It just takes some careful planning and a little bit of ingenuity, as demonstrated by the following series of tips:
Get a financial advisor
Finding a way to save money for the things you want starts with getting professional financial advice. When finding a financial advisor, it’s important you pick a fiduciary financial advisor versus one who is non-fiduciary. This ensures the person is acting in your best interest and not simply selling financial products which benefit a third-party. By having a qualified advisor look over your finances, you stand a better chance of developing a savings and investment strategy conducive for one day affording the trip of your dreams.
Explore the best investment strategies
Generally speaking, the greatest return on investment comes from getting in on the ground floor of a great idea. For many, this involves investing in real estate in up-and-coming parts of cities and towns, with the expectation property values will increase dramatically in the years to come. For others, this means exploring relatively new and exciting investment options, which range from financially backing a cryptocurrency mining operation to investing in startups promising to provide the innovative and game-changing products and services of the future.
Skip a trip
Many people opt for an annual vacation someplace they’ve visited before and/or is located close to home. There is nothing wrong with that, but if skipping this vacation for one year means saving enough for an even more exciting trip someplace different next year, you might want to consider doing so. This doesn’t mean you can’t take a week off from work to have fun if you desire; assuming you’ve got paid time off accrued, a staycation is a great way to pocket travel money in order to afford a dream vacation next year.
Keep your car
Many people start shopping for a new car the minute they’re finished paying off their current vehicle, sometimes sooner. While trade-in value is a worthy factor in deciding whether it’s time to buy a new car, most dealerships will do whatever it takes to apply the least amount of value to your trade. Given the average monthly car payment in the United States falls somewhere between $530 for new and $381 for used vehicles, this is money that can instead be saved for an unforgettable trip someplace exotic.
Go offseason
Lastly, we can’t stress enough the benefits of traveling to great destinations during the off-season before and after Christmas and the New Year. The number of travelers plummets during these periods and the price for airfare, hotels, and just about everything else drops as well. It’s a great way to pull off paying for a trip you may otherwise be unable to afford during other times of the year. What’s more, the reduced crowd sizes will mean more room to stretch your legs and explore.
