Wondering how to save money for travel? Here are 10 great tips to help you save up for your next trip. Keep reading and start planning your travels soon.
Who already has travel plans for 2024? I know I do! Whether you want to visit family and friends abroad, revisit your favorite holiday destination, or do a cultural exchange program, you’ll need some money. Here are 10 money-saving tips to help you make your travel dreams come true in 2024!
- Set your intention
- Plan your travel budget
- Set up a direct debit to your savings account
- Cancel unnecessary subscriptions
- Look for offers in shops
- Limit online shopping
- Save on energy bills
- Give yourself a cooling-off period for purchases
- Swap and borrow
- Make packed lunches
01. Set your intention
First of all, set your intention. Here’s an example: “In 2024, I am going to go backpacking in Central America for three months”, or “I want to travel to South America to learn about other cultures.”.
Having a very clear idea in your mind of what you want to achieve will help you plan how to save money for travel. You can make your intention more powerful by writing it down in a journal or even by creating a vision board.
Believe that you are going to travel in 2024 and watch your dreams become a reality.
02. How to save money for travel?, Plan your travel budget
Now that you have set your travel intentions, you should work out how to plan your travel budget.
Find out how much it will cost to get there and how much money you’re likely to need every week (taking into account local transportation, accommodation, food & drink, and leisure expenses).
Once you know how much money you’ll need, take a look at your monthly budget (or create one) and see how long it will take to save up. Don’t worry if it looks like you won’t be able to save enough money at first. The tips below will help you!
03. Set up a direct debit to your savings account
Another great tip about how to save money for travel is to set up a direct debit to your savings account. If you haven’t done so already, contact your bank right now.
This is money you are not allowed to spend until you go on your trip! By putting money aside each month, no matter how much or how little, you’ll soon see your savings grow.
04. Cancel unnecessary subscriptions
04. Cancel unnecessary subscriptions
Take a critical look at all your monthly subscriptions and ask yourself the following questions: Do you need them?
If you watch Netflix or something else 99% of the time, it’s probably time to cancel that cable TV subscription.
Are you using these subscriptions enough? One example that comes to mind is gym membership. If you only workout once a week, it’s time to cancel it.
Can you find a cheaper alternative? It may be easier to get a Hello Fresh box or one delivered to your door, but going to a local market and looking for deals can save you a lot of money.
05. Look for offers in shops
Before you go out to shop, check out the websites of different supermarkets and stores to see where you can get the best deals.
For example, you may find that the crate of beer you wanted to buy at your regular store is half the price at another store. And you may find that the store you wanted to buy new clothes from is having a sale next week.
Doing your own research really helps you save money on travel.
06. Limit online shopping
Another way you can be more sustainable and save money for travel at the same time is to restrict online shopping.
It can be so easy to spend your cash from behind a computer or smartphone screen; just a few clicks and your new purchases are on their way.
Unfortunately, a lot of people end up unsatisfied with their goods and end up sending them back. This is a waste of time, energy, and money.
Try to spend money using cash in actual shops; you have a better idea of how much you’re spending (because you see the money in your hands) and a better idea of the products too.
07. Save on energy bills
Another thing to research is how to save on your energy bills. One way to do this is to switch suppliers when your current contract comes to an end.
Go online and see if there are cheaper deals to be found or to find out which suppliers offer new client discounts. You should also learn how to save on gas, electricity, and water; you’ll spend less money while being more sustainable.
08. Give yourself a cooling-off period for purchases
How many of you have bought something on impulse, only to regret the purchase later? This is extremely common. A useful tip to try and prevent this from happening is to allow yourself a cooling-off period whenever you think you want to buy something you do not need.
For example: you see an amazing pair of shoes when you’re at the mall. You don’t need new shoes, but these are just so gorgeous that you want to buy them.
Instead of following your impulse, go home and wait three days. If you still want the shoes, you can go back and get them. What you’ll probably discover is that your desire to have these kinds of impulse buys fades away. More money saved!
09. Swap and borrow
Perhaps you do not even need to buy or even own the item you want. Why buy a new dress for a party (which you’re probably only going to wear once anyway) when you could get one for free from a friend?
Try organizing a clothes swap party with friends; you’ll get rid of items you no longer wear while getting new ones without spending any of your hard-earned cash.
And why buy expensive items that you don’t often use when you could borrow them? Ask your neighbor if you can use their hedge trimmer rather than going to the garden center to buy something you’ll only use a few times per year.
10. Make packed lunches
You’ll save a lot of money on travel by taking packed lunches to school/work instead of buying food from the local convenience store.
According to some estimates, savings could reach up to $1000 per year! That will most likely be enough to pay for your flight to your chosen destination.
Moreover, why would you pay $5 for a tasteless pre-packaged sandwich when you could make a delicious one at home for a fraction of the price?