How To Start Saving Money For Travel

If you have a desire to travel for long periods of time, all that is standing in your way is your ability to save money. Without money, you simply can’t go anywhere.

However, the chances are that you made up your mind about wanting to travel. After all, you are reading travel-related articles.
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You’re still wondering – what can you do to save enough money in order to book your next plane ticket? First, you will have to decide on what type of trip you want to experience. There is a big difference between volunteering abroad, going on a family vacation and long-term backpacking.

Then, there’s the matter of learning how to properly budget, and other factors you need to account for before you leave on any type of trip. All of these will be outlined below.

Choose the type of trips you want to take
The type of trip that you want to have will impact the amount of money that you need for it. At the end of the day, going on a family vacation will not require you to save as much as a long-term backpacking trip would. Thus, here are three different scenarios, and what they mean for your wallet:

  1. Volunteer abroad
Choosing to travel by volunteering somewhere will be a cost-efficient way of seeing a different part of the world. Depending on the type of volunteer work that you do, you won’t have to pay for your accommodation, and sometimes not even for food.

For instance, this is the case if you were to volunteer in a hostel, and potentially even on a farm or ranch, where you are helping locals with their day to day tasks.

You will not only be traveling, but you will also be contributing to the greater good, especially if you volunteer in a school, and other such scenarios.

  1. Family vacations
Do you want to go on a family vacation? They say that vacations make kids happier, and it’s a great opportunity for everyone to bond together.

However, if this is what you are saving money for, you will not want to stay in hostels, but rather in hotels. Moreover, you will want to consider the age range of all your loved ones, to ensure that you choose a destination that everyone will enjoy. The whole point is for everyone to relax, and to create happy memories together in a new and beautiful environment.

  1. Long-term backpacking
As the third option, long-term backpacking will require you to rigorously save money. Backpacking has been around for a while, and younger people are choosing to adopt this approach in order to see the world.

Of course, a three-month trip will require a different sum compared to one that lasts a year, but the idea remains the same – and that is that you must save a fair bit of money.
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You will also want to consider where exactly it is that you want to go, as certain continents will always be cheaper than others. For instance, Southeast Asia will be cheaper for you compared to spending a lot of time in Western Europe.

Set a timeline for your budget
As soon as you fully determine the type of trip that you want to have, you will need to set a timeline and stick to the budget that you set for yourself. Any time you feel as if you are straying from the budget and want to purchase something spontaneously, remember to think about why it is that you are saving in the first place and the type of adventure that you are going to embark on.

Make a point to understand the difference between your needs and wants, and where your priorities lie.

Getting money for last-minute scenarios and decisions
Imagine a scenario where you are nearing your departure date but are still a bit behind the budget you estimated for yourself. So long as you have been saving up until this point, you may decide to get a small loan for the last stretch of your trip.

Moreover, if something were to happen on the trip that requires you to pay an expensive medical bill, this is yet another scenario where you will need to get a loan.

Now, what if you have the issue of a bad line of credit standing in your way? This shouldn’t deter you from getting the funds you need, and there are always online institutions that offer you no credit check loans, and you can read this for more information about it.

Consider everything you will need to bring
Make sure to make a list, ahead of time, of everything that you will need to pack and bring with you. You don’t want to spend unnecessary money while you are on your trip on items that you have back at home but simply forgot to pack.

Picking travel companions
Traveling with a companion can always be cheaper than choosing to travel alone. When it comes to family vacation, the money will be divided between the adults, but what about for long-term backpacking trips? Although there are many who choose to go solo, there are still others who travel with a friend.

However, it is important to choose the right people to travel with. Your companion can make a huge difference to the type of trip that you will have. You don’t want to spend your time arguing, and you want to discuss, ahead of time, what you are both expecting out of this particular trip.

Many people enjoying traveling or going on vacation, but that doesn’t mean that you should go into debt in order to go on your trip. The whole point is for you to relax, see the world, and open your mind. However, if you have to deal with the stress of paying off multiple credit cards when you are home, you will be far from happy. Also, you don’t want to look back on your trip and regret any of the purchases you made and activities you did.

Thus, learning how to save money for it is crucial. Most importantly– remember to give yourself time to save as well, especially depending on how long you want your trip to be.

1 comment

  1. Comprehensive info shared. Thank you. I learned a lot of new ways saving money for travelling.
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