The Ultimate Guide to Saving Money For Travel
Travelling is something that we would recommend to anyone.
Getting out and seeing what the world has to offer and meeting people from different cultures is a great experience. Travelling can really set you up for life because of the way that it teaches independence and encourages self-confidence. All too often, however, people are priced out of the opportunity to give travelling a go. We think that saving to fund your own travel is part of the fun, though and that it should be something that everyone plans to do at some point in their life. Here are some of our top tips to help you save to find your travel plans.
- Spend less on lunch
When people start to assess their finances and really look at what they are spending, they are often horrified at how much they spend on lunches. The cost of all those salads or meal deals really does add up. Plus, they are not the most nutritious meals available. Consider taking your own meals to work, with a bit of planning you can drastically cut your spending and maybe reduce your waistline. There is plenty of inspiration for lunch ideas if you look around.
- Create a savings plan
You really need to have a sit down early in the process of gathering money for your travelling and come up with a savings plan. Think about how much money you will need, where you can cut expenses, how much you will be able to save month-to-month and where you will keep the money that you have managed to save. It’s often best to come up with a figure that you need to raise first and then start to look at where you can cut expenditure. To help you think about what you spend on an average day take a look at our article titled ‘10 things Brits are most likely to spend their disposable income on‘.
- Assess your expenditures
One way that you can save money is to cut some of those bills that you are paying out every month. Is there anything that you could forgo to help save a bit of extra cash or cut you even cut any bills just by changing supplier? Try heading to moneyexpert.com/gas-electricity/ to see if you could save money on your gas or electricity bill.
- Start a dedicated travel fund
One way to make saving more enjoyable is to make sure that you have some way to store the money that you have saved so that you can watch it grow. This could be a pot kept on the mantlepiece if you wish but it is even better if you can keep your money in a savings account. This way you can keep an eye on the balance, your money will be safe and you will earn interest.
- Reduce or eliminate your car usage
Petrol costs a fortune and the more that you can eliminate your car usage the more money you can save. You will also save on the wear and tear of your vehicle and might even be able to lower your insurance premiums. Consider walking whenever you can to save money on your travel.