First, you need to know how much money you need to save.
To know this you need to know where you’re going, how long you’re planning to travel, what type of accommodation you’ll be staying in, what transport you need as well as what the main attractions and things you want to do are.
So once you know where you’re going you should do a little research about how much everyday things are such as food, accommodation and transport in that area. If your going to more than one place try to do a mini-plan of where and how long you’ll be spending in that place this will give you an idea of how much money you’ll be spending there.
Figure out how long you want to travel for, you might end up not knowing any way but plan how long you think you’ll need money to last for such as if you are planning to get a job out there you still need to plan for how long you can last with no job as plan change all the time. When I first travelled with my boyfriend we planned to get a job within the first month. We didn’t end up working at all and just lived off the money we saved which for us at the time was the best thing to do. So make sure you’re open to travelling without working too.
Plan on average how much your transport is going to cost you such as if you know you need to get a couple of flights and then a boat etc. Plan how much these will be and always include the price of a flight back home so that you have that money whenever you need, as again plans do change!
If you want to do lots and see lots of different attractions look at how much they are in that area so there aren’t any surprises along the way and if you find the main attraction you wanted to do is just too much out of budget it’s heartbreaking so try to know the prices on average beforehand.
Once you know the prices of all of these things you properly have a little number in your head on how much money you’ll need. Now add a bit of bonus money on to that, this could be an extra £100 for a short trip or £1000 for a trip that’s a little longer.
Now you’ll need to look into how much money you earn and figure out how long it will take you to save that money up, you need to take into consideration what you already spend weekly.
So this trip is important to you and that’s what you have to remind yourself of each time you pull out your purse or wallet. Is this trip more important than this coffee you don’t really need or is it more important than that shirt you won’t even wear there? That way you’ll be able to save by cutting out the things that aren’t necessary. I use this for my life daily no matter if I have travelling plans.
Take your bills (everything you HAVE to spend money on) such as rent, phone bill, petrol etc… and work out how much you are spending monthly. Take this away from how much you are earning monthly and you should be left with spare money that you can put away to save for your trip.
My next tip is to always take the opportunities you are given. What I mean by this is if your work colleagues are wanting a cover for a shift, go for it. Someone needs help with babysitting, offer your time. Always try to earn a little more on the side if you have time to, this will help you hit your goal quicker.
Here are 20 of the best tips to cut your costs when saving for travel
- No more coffee. Don’t buy any coffee when you can make one for so much cheaper at home. You’ll find yourself a little surprised when you realise how much money you’re spending on coffee.
- Beauty services. Things such as getting your nails done, eyelash extensions, eyebrow tints etc. By cutting out these few things you can save up to £70 every two-three weeks. Do it yourself for cheaper if you need them.
- Don’t buy anything you can’t afford. Don’t buy that car on lease just because it’s nice, don’t buy the brand new iPhone on an extortionate plan. Try to never go into debt with things like these as it’s not worth it. Just think of the fun you’ll have when you’re travelling when you want to fork out for a new car.
- Eat at home. Food is so much cheaper when you cook for yourself so try to minimise eating out when you’re saving and you’ll save so much more!
- Clothes. Try to limit how much you spend on clothes and how many you buy. These all add up and if you’re planning to travel somewhere hot you’ll end up in a bikini most days anyway so save that money!
- Drink less. We all know that a vodka lemonade is super cheap to make at home compared to the drinks at a bar. So try to have a few at home to save a little or try to cut down how much you drink which is really good for you anyway.
- Cancel your gym membership. Working out at home will save more money each month.
- Stop smoking or at least cut-down. Not only with your body thank you but your pocket will too!
- Try to cut down your household bills. Use less electricity, water and gas within your home. When you try to cut down what you use your overall household bills will drop dramatically so save money and the environment with this top tip.
- Cut down other bills too. Look at how much your spending on your phone bill, food shopping etc. Try to cut down where you can. Learn some cheaper recipes and they will serve you a lifetime of cheap and easy meals.
- Walk more. Try to cut down how much you spend on petrol and public transport. Where you can walk, cycle or skate. I use this rule ‘if you can walk there in 30 minutes, and if it takes a little longer to cycle or skate’. This obviously doesn’t work all of the time but a lot of the time try it out. It will also benefit your health and if you cancel that gym membership this is a great alternative. This helps save the environment as well as money.
- Pack your lunches. Try to bulk make your lunches for the week and take them to work to save money where you might have been buying lunches daily. When you are making your lunches try to make them healthy too so this is a two in one tip.
- Start a side hustle. Try to earn a little extra money on the side. This could be selling some artwork, selling some clothes, selling a service such as graphics design. This can be anything but research and ensure you can offer something good so people buy it and come back again.
- Do free things. If you’re a social butterfly or just love going out on dates that’s great but try to swap the things you do to free or cheaper things near you. This could be going for a picnic, spending the day at the beach or park, go sightseeing, go for a hike or bike ride, watch a movie at home, etc.
- Look for discounts. Try to buy things when they are on offer or if you have a discount code etc. And if you don’t have one ask for one! If you have a big social media following, see if brands will gift you things for a review etc. Always remember the saying ‘the cheeky boy got the toffee’ it’s basically saying those that ask, receive.
- Make a budget and stick to it. Remind yourself of what the budget is for and this should get you to be able to stick to it monthly, don’t let yourself say well it’s just one coffee or just one lunch I brought this week as everything adds up. And it adds up quickly when you don’t try to keep track.
- Carry a water bottle. When you carry a water bottle around you lose the need to buy a drink often, cutting out that cost as well as the plastic bottles that go alongside it.
- Cancel any unnecessary memberships or subscriptions. I did this when I was saving to travel, this could be cutting out Netflix, Spotify, amazon prime etc. If I’m being honest I cut out all of these and then within a month realised how much I used and loved Spotify so I got it back. This is ok as you need to figure out what you do need in life and these needs and wants are ok but ensure that you are cutting back when you can.
- Invest in spare change. With my spare change around the house, I always put it in a travel jar even if I haven’t got a trip planned. It’s just there for when I need it. Do this with your bank too. Many banks actually do it for you so you might want to look into it and change over. But an alternative and what I do is check my mobile banking each day or every other day and transfer little by little into a savings account.
- Keep yourself motivated. Remind yourself of the trip ahead and get yourself excited to save more for it. Try to picture each bit of savings going towards a beautiful Airbnb on a beach in Bali or flying through the sky to your dream destination. Picture your money as the trip and you’ll find it easier to save.
Save when and where you can. You can take these tips and use them for your whole life when it comes to anything you’re saving for. In my life, I use my tips nearly 24/7 as I think it’s important to have a chunk of savings for your goals in the future anyway. Another tip for this is to always have something you’re saving up for no matter how big or small.
Save everything you can and enjoy your travels!
Keep an eye out for a future blog on getting the most out of your money when your travelling.