15/03/2017 Charlene Robles-Abando

The Best Way To Save Money For Your Travel Fund

“How to save travel funds”? We know that you want to make your travel dreams possible! And we are all aware that traveling costs money, and money takes time to earn. That’s why the key to any trip is being smart with your money. So we’re here to help you with the proven ways to save for your next adventure trip, in that way you can travel as often as you want!

Proven Ways To Save For Your Travel Fund

Step 1: Track And Analyze Your Spending Habits

You need to know your next travel goals and what you would like to achieve within a particular span of time. Then realistically analyze your needs and requirements along with your current income and lifestyle. Ask yourself if you need to cut down in certain areas like your shopping, spending and other expenses. Writing down everything you spend, from a stick of gum to a magazine is a good way too! Studies have shown that once you see your habits written out, you’ll self regulate, and cut back. Once the above is done you will be able to understand your own financial status.

Step 2: Save And Then Spend And Not The Other Way Round

Most of us spend a part of the income and then end up saving the rest, if any. However the “healthy” habit is to go the other way round.  Like Warren Buffet has mentioned, you should save a part of your income before you start spending. Incidentally most financially inefficient people end up spending most of the income and then saving a part of it, if anything is left after spending.

Step 3: Self Control

The thing is that a big part of saving money has to do with exerting willpower and self-control, which you have a limited amount of. You can start by not purchasing items on impulse and identify your needs from wants. And always remind yourself why you’re doing this!

Step 4: Make Extra Income

This is the key for you to have continual flow of money. Plus, it gives you lots of security in case you lost your other source of income. You can try Online Jobs and Selling Different Stuff Online. Another way  is to tell your friends that you are looking for extra work and be sure to specify what your skills have, whether it be painting houses or babysitting.

Step 5: Travel Smarter

Travel smarter but not cheaper. You can save a lot of money by travelling smarter! How? Simply by spending less in expensive locations, save money on flights,  pack smarter to save excess baggage fees, rent an apartment instead of expensive hotels (so you could cook and wash your clothes without paying extortionate hotel fees), and visit Inexpensive Countries.

Step 6: Go Against The Crowd

Go at the right time or it could actually also read “Go at the wrong time” since your goal is to travel when it’s least convenient for everyone else. This means going before or after holidays, during the winter as opposed to the summer, and even flying on the right (wrong) days – Tuesday, Wednesday and Saturday. It’s also cheaper to book a hotel room in the middle of the week. Also consider traveling during the shoulder season or off-season, when hotel prices drop and the crowds thin out.

Step 7: Save With Package Deals

A vacation package is a combination deal that includes airfare, hotel stay, and sometimes car rentals. You could book all of these separately and possibly pinch a few pennies in the process. In addition, some vacation packages are all-inclusive, meaning you pay one price that covers all of the lodgings, food, drinks, gratuities, and even some of the services offered by the establishment (such as night performances and entertainment).

Step 8: “Like” And “Follow” For Savings

Keep up with social media pages of airlines, hotels, cruise lines, and travel sites to stay informed of tips, deals and giveaways. Search hashtags like #giveaway #traveltips to uncover trending deals.

Step 9: Download Travel Apps On Your Phone

We all know that there’s a lot of applications on phone that we can download which make our lives more convenient especially when travelling. You don’t have to spend money on buying loads to communicate with someone while you’re on your trip, instead you can use the free apps on your phone to call or message. Just find a free WiFi and that’s it! You can use the most popular apps with free call and message like, Skype, Facebook and Viber.

Step 10: Go Read and Follow The Step 1-10.

Good luck on your saving routine for your next dream vacation! Don’t forget to leave a comment if you have any suggestions or tips on how to save for travel fund!

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Comments (13)

  1. These are great tips! I’m currently in the saving phase, ready to take off come this summer, so I’ll definitely be implementing your tips. Thanks!

  2. Going against the crowd always helps to make things cheaper! Great list of ways to save, now I just have to get better at number one!

  3. What great tips! I didn’t know that hotels were cheaper during the week- I’ll definitely be a little more strategic with my bookings from now on!

    • Ken

      Yes Janine there are a lot of ways to save like this. Keep checking back for more location specific ones 😉

  4. A great post with some really useful tips. We definately find the self control part the hardest. 🙂 so many temptations out there. Thanks for sharing and we will be taking notes for sure 🙂

    • Ken

      Yes Nicola it’s always a challenge to get the most out of your trip while remaining on target for you budget. We love to use a few tools to help with this and make it the best time spent possible.

  5. Nice one 🙂 For #1, we use an app called Andro Money, there are many of them, but essentially you just keep your records all in one place and can then review on it 🙂

  6. Great post! I am all about going against the crowd! It may not be the “ideal” time to visit in many cases, but it pays off in the end. One of my favorites is Paris in the winter!

    • Ken

      That’s for sure Joel. I haven’t been to Paris in winter. It certainly up for it ☺️

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