Traveling is a hobby that not many can do more than once a year. However, if you’re able to make it work, it’s a lifestyle that can be very rewarding.
Getting to experience different cultures around the world, learn new languages and gain memories that will last you a lifetime, it’s something everyone should experience.
Because traveling can get expensive very quickly, it makes it difficult to plan for long-term vacations or multiple ones. Luckily, we have a few tips to help you earn and save to get you on that long-awaited vacation.
Follow a budget
Following a budget is a tip you’ll find with almost any money-saving articles. That is because it’s one of the best ways to get you to where you want to be financially.
Budgets give you a snapshot of your financial situation and will show you if you’re on your way to saving or losing. For traveling, add in a section of your budget specifically meant for travel savings. Set aside a percentage of your income each month, as long as it doesn’t take away from your monthly bills.
Find ways to earn a side income
Bringing in more money is a sure way to get you towards your travel goals. Luckily for you, there are many opportunities available.
Pick up a side gig with freelancing, offering services, selling items, or any other skill you have that you could charge for. Some apps allow you to make a few bucks by doing surveys, playing games, and even slots (look at ones with CASHlib payment providers).
Everything you earn on your side gig, put it into a savings account meant for travel.
Even if you have extra money coming in, making some financial cuts can help speed up the process. This is where your budget comes in handy.
See where you spend the most of your money. Are there categories (like entertainment and personal spending, for example) that you could afford to cut back on? Even something as little as $10 can add up over time.
Motivation is key when you’re saving for something. Without it, it’s easy to let yourself slip and start spending what you’re saving.
Set yourself an attainable goal. Give yourself a set dollar amount you want to have and by when. Add small milestones so that you have little achievements to celebrate along the way. Having that timeline can help keep you on track to reach your goal.
Hold yourself accountable
Accountability is another huge factor in saving money. With no accountability, who’s to stop you from spending what you save?
Staying accountable can come in many ways. If you’re dedicated enough to do it yourself, great! If not, have a friend help you. Look at apps that help tell you when you’re spending too much. The more you can hold yourself accountable, the more dedicated you’ll be.
Round your purchases
Did you know that some bank cards and apps will round up your purchase and put that money in a savings account? You can save for travel without doing anything differently. Just make sure you account for the slight increase in spending each month.
Stay determined, and you’ll get on that next vacation of a lifetime.