Are you dreaming of the day that travel restrictions are lifted and you can take a trip to somewhere on your bucket list?
This can be easier said than done, especially if you struggle to save money for travel. If you’re anything like me, you’re probably asking yourself, “how can I save money for traveling?”
While difficult on paper, with a few lifestyle tweaks, you’d be surprised at how much you can save for your dream vacation.
Don’t believe me? Well, here are 8 ways you can save money for travel and hit the road ASAP
1. Open a Vacation Savings Account
Your first step on the road to jet setting is to write down what your saving goal actually is. After that, open a high-interest savings account so you can earn on what you save.
Then, set up an automatic transfer schedule into your account. You should decide whether weekly, biweekly, or monthly deposits work best, and how much you can afford to set aside at each interval. However, don't let that stop you from adding more funds into your savings account when you can - keep your eye on the prize!
2. Clean Out That Spare Room, Garage, or Basement
Next, it’s time to clean out any spare rooms or spaces you have in your home. A good way to kick things off is to arrange items into four categories:
Once you’ve decided what to keep, it’s easier to sort further. Moreover, for items you want to donate or throw away, you can start bagging them up for removal.
Now for the items that give you that travel funds you’re after. When it comes to selling items, be sure to take good quality photos of them. This increases your chances of selling them in an online marketplace website, such as Ebay, Facebook Marketplace, Craigslist, or LetGo. If you want to kick it old school, you can also sell your unwanted goods at a garage or yard sales.
For more tips on how to declutter your home, check out this blog.
3. Rent Out Your Space for Storage
Now you have cleared out some space within your home, it's time to earn some extra money!
You can do this by becoming a host with Stache. Depending on what you can offer, you can earn thousands per year by letting people store their stuff in your extra space. This could be an attic, spare room, basement, garage, or even a parking space.
It’s less of a headache hosting objects rather than people, and it's an easy way to earn extra cash and save money for travel.
4. Join a Ridesharing App
Speaking of earning extra income, if you have a car in good working order and enjoy driving, why not join a ridesharing app like Uber or Lyft? If that idea doesn’t excite you, perhaps consider becoming a driver for food delivery services such as Instacart or Doordash?
These jobs offer you the freedom and flexibility to drive where and when you want. Moreover, they’re a great alternative to hourly, seasonal, or full-time gigs and offer another way to earn extra travel funds.
5. Ditch Non-Essential Subscriptions
Is your budget being held hostage by non-essential monthly subscriptions? Such as, the gym membership you rarely use or the Amazon Prime service that you never watch?
If so, swiftly cancel these subscriptions and pocket the savings for your next trip.
6. Dine-in More
Another easy way to save money for travel is by simply dining in at home more often. To make your budget go further, you can meal prep on a Sunday or cook a larger amount in the evening and have the leftovers for lunch the next day.
Another fun idea is to host a dinner party and ask guests to each bring one dish. Affectionately referred to as a ‘potluck’, this will help both you and your friends save money and also allow you to try out everyone's best culinary creations.
7. Brew Your Coffee At Home
Dust off the percolator! Buying a daily latte or frappuccino at Starbucks or your local coffee shop really adds up. Moreover, during lockdown, it’s likely that you got quite used to your own brew.
Therefore, why not invest in a basic coffee maker. Spending $4 a day on coffee translates to $20 per week. And, before you know it, this adds up to an eye-watering $500 in merely six months. Ditch that cup of Joe now for that cocktail by the beach later.
8. Be Realistic - Plan For a Trip You Can Afford
You’re longing for a tropical vacation but at the same time, it’s important to acknowledge your other financial obligations. As a result, try not to dig too deep into your wallet, especially if it’s at the expense of a huge life-changing sacrifice. Is it really worth forgoing a long-planned return to study for a career-essential degree in exchange for traveling? Probably not.
So if you find yourself contemplating serious trade-offs like these, you might need to reconsider your travel itinerary or timing. It might be more realistic and achievable to plan and save for a shorter trip or a ‘staycation’.
When it comes down to it, saving money for your dream trip is not as complicated as you may think.With a few lifestyle adjustments and some creative saving tactics that are a little bit outside the box, you’ll be well on your way towards your next vacation goal.