The average vacation costs $1,145 a person. If you’re going with a family, that can add up to quite a lot of money.
If that isn’t achievable given your current financial situation, then it’s time to hone in on some money-saving tips. After all, it takes time to save and prepare for a big trip.
When you’re learning how to save money to travel, you need to first determine a few key considerations!
Check out some tips to save money for travel below and get started on planning your next vacation.
How to Save Money to Travel: The Basics
When saving your money for an upcoming vacation, don’t go into saving blindly. Following these steps to increase your chances of reaching your savings goal and planning the trip of a lifetime.
- Set a savings goal
- Create a budget
- Identify unnecessary spending
- Decide the lowest amount needed to travel
- Determine your savings deadline
Once you have your travel savings ‘map’ in place, you can set off to add every penny possible to your vacation jar.
Don’t Get Takeout
Over $3,000 a year is spent on eating out by the average American. Making an effort to cut back on or eliminate takeout from your diet will not only help with your health.
You could have roughly $3,000 extra to put in your travel savings account.
Cut Out Unnecessary Bills
Do you really need cable TV? The answer is probably no.
Eliminating this expenditure can add anywhere between $50 and $100 extra to your savings each month. In a year’s time, you could have an extra $1200 toward your dream vacation.
If you don’t want to cut out your favorite TV shows entirely opt for a cheaper option. Options like Netflix and Hulu are a fraction of the cost of cable.
Don’t Upgrade Your Car, Phone, or Appliances
It can be tempting to have all the latest gadgets and shiniest new upgrades. However, these come at a price. Usually a pretty high one.
Bypass updating your car, phone, or other expensive gadgets to cut costs. It will get you to your savings goal quickly. Plus, the experiences you gain from traveling will be much more rewarding than a fancy new phone or a shiny new car.
When You Can’t Save, Book Smart
Reaccessing your savings contributions and cutting back on normal outings will only get you so far.
At some point, you simply need to travel frugally. This could mean picking cheaper hotels, more affordable food, or fewer activities on your trip.
What this doesn’t mean is a less exciting or memorable experience.
Using a service like worldroamer.com to help you locate and book affordable hotels, accommodations, and activities will cut down on the time you’d spending doing the legwork yourself. You’re also more liable to track down incredible deals and hidden finds you’d never know about otherwise.
Getting One Step Closer to Your Dream Trip
When learning how to save money to travel there’s a variety of strategies and suggestions available at your fingertips.
Start by developing goals and from there begin making strategic budgeting decisions. Before you know it, you’ll be traveling the world!
Check out our other articles for more travel tips!