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I love love LOVE to travel. But let’s be honest, traveling, especially when you have a slight tinge of bougie is not always cheap. Traveling not only allows me to explore and learn about places and people I’ve never come across, but it also allows me to disconnect and also reconnect with what life is about – living.
So how exactly do I save for travel? Well for starters, I plan. I rarely last minute travel unless the deal is just too good to be true. Even then, I have funds set aside just for the purpose of traveling. Basically, I have a high interest savings account that is literally marked “Travel Savings Account”. I start saving before a trip is even planned.
Claim It!
Figure out where you want to go and create a realistic budget for where you plan to go.
Research
Research to figure out how much (realistically), it is going to cost you go there. Factor in flights, hotel, foods, local transportation, shopping, etc.
Budget
For instance, if I plan to go on a $2000 vacation, I will break down my budget to how much I need to save monthly to get to $2000. If that means going on a vacation in 4 months from today, then I need to find a way to save $500 a month for the next four months.
How am I suppose to save $500 extra a month for 4 months? First, start today and start small. Open up a dedicated travel savings account. And if $500 a month sounds crazy, you need to plan your vacation for maybe 6 or 9 months out. The point is that you have to PLAN ahead.
Cut Costs
Planning includes cutting cost in other areas of your everyday spending to save for your travel. It can also mean finding ways to make a little more money over the next few months. Maybe chill on the Starbucks or big lunches. Stop buying items because they are “on sale” for the next few weeks. Any extra unexpected money that comes in can go towards your travel savings account. You’ll be surprised how quickly that $5-$10 savings adds to up.
Deal With It
Planning also includes finding the best deals on flights, hotels, excursions and anything else you plan to do. I will admit, there is an art to finding great flights and hotels. Look for deals and catch sales, or ask your savvy friend to help you. Don’t just book the first thing that pops up on your search. Also, some airlines and hotels allow for price adjustments, so keep that in mind when planning a trip.
Be Responsible
Lastly, please don’t go into debt traveling. What I mean is this…if you know good and well that you are not responsible with a credit card, DO NOT book your travel on credit and go into debt. Credit cards should be used only as a cost savings tool when traveling (for example: saving on foreign transactions fees), but not as “buy now, pay more later” tool. Don’t do it! Your trip will end up costing you more than your original budgeted trip.
So in a nutshell, you if love to travel, you have to claim where you want to go, plan ahead, set funds aside in a dedicated travel savings account, and find areas to reduce everyday spending for the next few months.
Where do you plan to travel next, and when? If you don’t have an exact place and date in mind, why not get a head start today. Open up your travel savings account and deposit money towards your next trip!
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