If you thought that you had to be super rich to be able to travel to most exotic locations in the world, then you are in for a surprise. Travelling the world and discovering the unique places while having experiences worth a lifetime of memories is possible for anyone and everyone who dreams of being a globetrotter.
It does not matter how much you earn or how many loan EMIs you have to pay back. You can start saving money for your next trip by just following some very easy hacks. You will be surprised at how much cutting down on small expenses can contribute towards funding your travel goals. Check out our top ways for saving money for travel:
1. Track your expenses
You cannot start saving money unless and until you keep an eye on all your expenses. This can be determined by simply tracking all your purchases so that you know where you are spending your money.
For this, make an excel spreadsheet and record your daily expenses including the daily commute, groceries, bills, and the likes. At the end of the month, analyse the spreadsheet to determine all the activities where you wasted money so that you can start saving that from the next month onwards.
2. Start a travel fund
Whether you want to open a separate bank account for the travel fund or you just want to put some cash way for travel, it is all up to you. However, having a dedicated travel fund gives you a sense of direction and a goal as to how much money you actually have to save before you can go on your trip.
You will have to make sure that you set weekly or monthly instalments for feeding the travel fund and make sure that you stick to them just like you do for paying off a loan EMI.
3. Cut back on food and drinks
An easy way to save money for travel, or rather for any other plan that requires money, is to cut back the daily spending on food and drinks. It is fairly simple to cook a meal at home if you know a few basic recipes and it will definitely help you in saving a hefty sum at the end of a month.
Moreover, eating at home can also prove to be healthier. If you have a day job, you can simply pack up a sandwich or two for lunch. Similarly, you should also aim to avoid buying Starbucks coffee and instead brew your own coffee early in the morning which you can also carry along in a thermos.
4. Reduce car usage
Fuel expenses are skyrocketing now and it is considerably cheaper to travel by public transport. Another alternative means to save money is to bike to work every day. If your office is not too far from home, you can even consider walking down on a daily basis instead of travelling by car as it allows you to stay fit while saving money that you can use on your travel plan.
5. Get rid of your vices
Are you in the habit of binge drinking or smoking? There can be no better way to save money than to just quit these terrible habits because of which you are not just flushing loads of cash down the drain but are also harming your own body.
Make a pledge to quit smoking or drinking as the case may be and we guarantee that you will be able to fund an entire trip through the savings that you make by this one act alone. If you are not able to quit on your own, you can even seek help from your friends or fellow travel enthusiasts.
6. Look for cheaper sources of entertainment
Going out to a bar or a club with friends results in much lighter wallets at the end of the evening. If you are looking to save money, you can just invite your friends over to your house. Even if you are in the mood to go out, you can search for places which allow free admission.
For daytime trips, you can easily find a lot of interesting places where you can have a good time without having to pay anything.
7. Stop buying things on a whim
When we go shopping, we often end up buying at least three more things simply because they caught our fancy in the store. This is really a wasteful expenditure which we regret later.
In order to save money, you will have to exercise a lot of self-control on yourself so that you do not unnecessarily spend precious money on things like clothes, shoes, gadgets and the likes which you do not need at the moment.
Thus, simply keep these things in mind, and we’re sure, you will be able to fund your next South America cruises, or any trip for that matter, easily.