Tips to help you save money to travel

by Dean on May 12, 2013

Post image for Tips to help you save money to travel

I am a firm believer that anyone can travel the world in some capacity if they work hard enough. There is travel available for almost any budget, however, due to the society that we live in, to many people this just seems impossible. The truth is that all you have to do to travel the world is save money. This is the part that seems impossible to most people, however in most cases it is possible if you know how to cut down your spendings and learn how to really save money. If you are struggling to save money for your trip, here are some tips to help you out.

Figure out your budget

The first thing that you really need to do is work out how much money you earn compared to all of your expenses. I learnt how to do this years ago and it is the real reason why I am able to travel so often. Take your pay check and minus all of the essential bills that you have to pay. What ever is left over, you can put away towards your trip.

Get rid of your debt

Debt is one of the worst things that you can have when you want to travel. It really eats away at your pay check, taking away money that you could be saving towards your trip. Work out whether it is better for you to pay off your credit cards or loans before you start saving for your trip. You will not only save in the interest that you pay, but you will have that wonderful feeling of being debt free when you can finally go on your holiday. Getting rid of your debt gives you all of that extra money to save.

Get a good savings account

This is a very important tip. If you can find yourself a savings account with a great interest rate, your savings will bring you in even more money without you even having to do anything. For some of the best savings accounts around, do some research online. You will be surprised at what you find.

Cut down on your spending

A lot of the time, we tend to waste a lot of money on nonessential items. There are so many ways that you can cut down on your spendings to save money. For example, do you eat out a lot? If so you can easily cut down on this and cook your own meals at home more often. Do you buy things that you don’t really need? Think only about the essential items that you need to buy and cut out those spontaneous purchases. Make a note of how much money you spend each week and what you spend it on, then you can see if there is anything that you can cut out.

How much do you need to save?

Once you have worked out a savings plan, you need to research the trip that you want to go on to work out how much money you need to save before you go. Find a destination that suits your budget and time frame, or if there is a specific destination that you want to visit, work out how much the trip will cost you and then set the amount of time that it will take you to save that amount of money. This is where a good savings account such as Birmingham Midshires Savings will come in handy. You will reach your goal even quicker than expected!

I hope that these tips help you to save money to travel the world. If you try hard enough, you can really do it. You can live your travel dream.

Photo credit: Photo 1

{ 3 comments… read them below or add one }

Leave a Comment

Current ye@r *

Previous post:

Next post: