The key to save money on travel is to being smart with your money, and you should adopt this money saving mindset even before you hit the road. It is very important to know how to save up for an upcoming trip so you don’t end up running out of money when you’re on the road. You’ll be surprised to know that there are ways to earn airfare and accommodations. Here are some of the smartest ways you can save up and fund your thirst for traveling.
Make up a budget and then search for a place that you’d like to visit within that budget. A lot of people usually stress out when planning a holiday because they’ve picked a destination that is out of their budget and obviously it makes it that much harder for you to save up for it. There are so many travel destinations that won’t break the bank once you’re there. You’ll be surprised to know that there are some places like Thailand where you expenses can be as low as 30$ per day. Look for airfare that is cheap and the countries that despite being popular tourist destinations don’t have to break the bank. Bali, Sri Lanka, India and Thailand are excellent choices.
If you love traveling more than anything than you have to be firm with yourself and cut a few expenses. If you, like me, love coffee then you might have noticed that it slowly drains your bank account without you even noticing it. A coffee at your favorite coffee place is for about $5 and if you add that up it makes up to $1,800 per year. This, my friend is a lot money. You can spend two month in Southeast Asia in this amount. Switch your cappuccino for a standard brew or replace your caffeine with tea, it’s cheaper.
Instead of eating out every night or getting take away why not learn to cook instead? Restaurants these days are a luxury not everyone can afford. Have you seen the price of the pasta lately? It’s expensive! To keep your food bill low, the only option is to cook more often. Instead of eating out every night, change it to two nights a week. This will not only keep your bank account afloat but you’ll be living a healthier lifestyle.
This might be controversial to some, but getting a roommate will cut down your housing costs in half. You can either downsize your apartment or get a roommate. You can also move in with your mom and dad but we know that is not everyone’s cup of tea. A friend of mine who was a travel enthusiast moved in with his parent, and he ended up saving $3,000 in rent as a result.
Open a savings account which will help your savings grow every month. You can cash in a few hundred dollars this way. Even though interest rates are low these days you can still get 1-2% interest on your savings.