Are you seeking a simple strategy for saving money for travel? Let’s see if the team at Fair Dinkum Traveller can help you to travel more often.
It’s a wise saying that needs to be adhered to in any aspect of life, “you work out what is important to you and hold onto it as much as possible.”
Travel is essential to many people around the globe, and so it is in my life too. Therefore, I understand when people say to me that travel is on the high end of their priorities.
Naturally, the challenge can come with having enough vacation money, it’s not always cheap to travel, a feat I know all too well coming from the land down under. Moreover, when an adventure abroad is so important to my life, I must simply find a way to keep saving money for travel.
No ifs, no buts, no questions.
How can I save money for more travel and avoid getting any sort of withdrawal symptoms? Well, I may be able to give you a few secrets to be a travel money saver, strategies I use to fund the next trip, hopefully helping you in the future too.
Who knows! Perhaps once you have read the article, you’ll be able to provide a few extra cheap travel tips in the comments below and keep me on the road more regularly. A win, win for everyone involved.
Helpful advice on Saving money for travel
It’s important to realise; this only works if travel is indeed is what is important to you. Sacrifices must be made to save money, and if those sacrifices aren’t willing to be made, then it may not work for you.
Simply because, that will mean your priorities are not to travel, you sure like it a lot, who doesn’t, but not at the expense of other things you need to keep in your life. Which I must admit is fine, it is each to their own and not all of us want to be travelsavers.
Of course, that means the first cab off the rank when it comes to a travel savings plan is to prioritise.
Prioritise what is important to you to save money for travel
Prioritise has been the first theme of this article, and wherever your number one priority lies, is your personal choice.
What I usually do is make a chart from the highest priority to the lowest priority, and over the years the list has changed, but travel has always remained number one. Well, number one behind family, but that is a given.
By prioritising, you’re making a list of what luxuries you must have, to those added luxuries you can live without. You’ll be amazed at what is appearing before your eyes when making your list and what is affecting your budget for a travel savings plan.
Give it a try! Make your own list and categorise your essential priorities.
Pay subscriptions to items that are truly needed
Cable television, newspaper subscriptions, magazine subscriptions, Netflix and other internet or regular subscriptions you may be paying that could be having an effect on your bank account. Heck maybe having a few of these subscriptions don’t hinder your savings plan for travel, then fine, move right along.
However, because you are reading this article on saving money for travel, I assume you want my personal advice.
Most of these subscriptions are entertainment value, it is hard to say goodbye to a few of these luxuries. What I did a couple of years ago was to work out a better way to reduce spending, instead of getting rid of them, because I do need some of these entertainment packages in my life.
I felt cable television was my most significant waste of money, with over 200-channels to watch, I found I would spend my time watching five of those channels. I got rid of it, and I don’t regret it.
To keep me entertained, I began subscribing to Netflix at $12 per month, that was no bugbear on the budget, and I’m treated watching great movies and dramatic TV shows.
Of course, I have a couple of other entertainment subscriptions, but they are packages that don’t hinder my travel plans. It’s all part of the idea of working out what is right for you. Do you need it, or do you not? That’s for you to decide.
Fewer Luxuries, Means More time to travel
You must think by now I have no life in between trips, it’s far from the case and often I get out to socialise.
However, because hopping on a plane and going abroad means so much to me, I minimise going out to a nice restaurant and choose home cooking instead. I avoid paying outrageous prices at the movie cinemas and choose to watch a film on Netflix. You get the drift of where I’m heading with this.
The way I say see it if I can get the same value for fun doing something cheaper over doing a similar experience which is more expensive, the money saving options wins every time. I mean why not? It makes sense, doesn’t it?
Open a separate travel savings account
With the ease of online banking, it’s not hard to open a different account which is used correctly for travel funds. With a click of the finger, you can transfer the delegated travel money between accounts with the use of an App on your smartphone.
Decide how much you would like to give to the travel savings account on a weekly, fortnightly, or monthly basis, be it $10 to $50 a week. On odd occasions, you may be able to seize the opportunity to add a higher amount if the budget allows for it.
From the time you have that secondary bank account, watch the funds grow, and in no time, you’ll be booking that flight which is currently on special. Whatever you do, don’t touch the travel account unless it is to be used for travel related purposes.
Put loose coins into a Travel Fund Jar
Coins can be a nuisance, so if I have any leftover at the end of the day, I generally chuck the coins into a travel fund money jar and leave it until it’s full. When I can’t stuff any more coins into the box, I go to the bank and cash the coins in, depositing the money straight into the travel savings account.
A great incentive is to purchase a travel fund jar, specifically for this purpose, and it will help to put those loose coins to good use for when you next travel. You can buy your very own travel fund piggy bank at Amazon!
Reduce the spending on your weekly shopping bill
I am not going to teach how to save money on food, how you conduct your weekly shopping is up to you.
For me, it’s about reducing cost in any way possible, so I can travel more often. I make a point only to spend a certain amount on shopping to get through the week. Therefore, I shop for a budget and try not to exceed the limit.
By sticking to a budget, it means I do forfeit a lot of snacks, chocolates, soft drinks and other junk that I find unnecessary, probably a good thing too. I buy what I need to buy in that given week, and I still manage to have three fulfilling meals a day.
Alcohol is not essential – At least to me
I am not a non-drinker, I do enjoy the occasional beer, wine or scotch, but I drink so rarely that I’m often recognised as a non-drinker. My alcohol consumption is usually reserved for Southeast Asia, where the beer is cheaper, and I want to enjoy a few more niceties on my vacation.
Why? Because alcohol, at least in Australia, is not cheap, and if I am prioritising alcohol over travel, then travel will happen less frequently. Personally, I would probably spend around two to three hundred dollars a year on alcoholic drinks, mainly because I buy a couple of bottles of Chivas Regal at Duty-free stores in Airports and it’s enough to keep me satisfied.
It doesn’t mean I don’t socialise, of course, I do, and if the situation arises, I will have a drink without hesitation. I just don’t drink for the sake of drinking.
Anyway, I look at it this way, my reduction in alcohol intake means a healthier balanced lifestyle and that cannot be a bad thing on the mind and physical appearance.
Go on holidays when specials are happening
You can still be a money saver and go on holidays at the same time, with travel, promotions are a regular occurrence for airline companies, and if you show a bit of patience when booking, along with right timing, a bargain can be found.
When you are planning a trip, have some dates in mind when you wish to travel, avoid school holidays if possible, sign up to email alerts of airline carriers and wait for the promotions to arrive.
Don’t be fussy – Downgrade from luxury to standard for cheaper travel
Do you always need a luxury hotel by the beach? Of course not, some of the best holiday experiences are had because of the decision to use the room as only an overnight sleeping area, rather than relaxing around the hotel all day.
The rest of the world is too good to be holed up in a resort, and while that choice is ideal from time to time, exploring your chosen destination is what travelling is really about. So, find a cheaper yet suitable room at Booking.com and go exploring.
The conclusion for saving money for travel
Travel is essential to some people and not to everyone, I understand. If you’re like me and a journey is your life, you’re always going to find ways to save a few coins to go on the next trip because quite merely, travel is in the blood and once you have the bug, it can never escape.
I would love to hear from you about your travel plans, what do you do to save money for travel? Please let me know in the comments below!