Saving money for vacation always seems like such a daunting task. The further you go, the more the costs. However, if you start early and apply at least one of these tips, it will make the task so much easier.
Here are 4 tips to help you jumpstart your travel fund:
1. Have a dedicated travel fund account
When I first began traveling, this was one of the best decisions I made to save money. I opened a new checking account solely for travel. Even after I went on my first trip, I was so used to putting money in there, I continued and already had a jumpstart for my next adventure. Take it a step further and set up automatic transfers. That way it is out of sight and out of mind. Still need a push? Give the $5 Challenge a try. Anytime you get a $5 bill, save it, don’t spend it. Lastly, you may have heard of the 52 Week Money Challenge. I tried this in 2017 and was really successful.Basically, there are 52 weeks in the year. Whichever week of the year is it, thats how much money you save. For example, week 1 save $1, week 22 save $22, etc. Pro tip: try to do it in reverse so the amounts are getting smaller through the year. I found it more motivating that way.
2. Cut out excess expenses
This is where the real sacrifices come in. How bad do you really want to start saving money? Now don’t fret, these can be temporary sacrifices. That cable bill… cut it. Enjoy streaming like Netflix or Hulu. Eating out for lunch everyday… cut it [or reduce it]. Saving doesn’t have to be absolutely dreadful. Cook more at home and bring your lunch to work. Better for your budget and waistline. That gym membership or trainer… cut it. There are thousands of workout videos on YouTube and many apps like the Nike Training Club App.
3. Get a side hustle or part time job
You may have extra time on your hands. Aside from your 9 – 5, what are you doing outside of those hours? Try driving for Lyft or DoorDash. These are extra convenient since you choose exactly when you want to work. I worked part time at the dollar store for a summer. Since it was additional income, I saved each paycheck for my travel fund. Maybe you’re an excellent writer, find some freelance work or a blog contributor gig. Growing blogs [like this one] would love some help and don’t mind paying.
4. Sell items you no longer use
Selling items is not limited to your closet. Take a look at your kitchen appliances and gadgets. If it still works, looks decent, and you only use it twice a year, let it go. I once sold a quesadilla maker for $15 on Offer Up. Pro Tip: you can increase the price if you still have the box and manual. This list also include books, home decor, clothes, jewelery, coats, and so much more. Another mans trash is another persons’ treasure.
Now get out there and stack up and get to saving money!
[…] Are you thinking to yourself: “Hey these tips are great but I don’t have money for a vacation to even think of packing for.” Not a problem. Head over to our previous post -> 4 Tips for Saving Money for Travel […]
You really make it seem so easy with your presentation but I find this matter to be actually something which I think I would never understand. It seems too complex and extremely broad for me. I am looking forward for your next post, I will try to get the hang of it! Emmi Hanson Sheryle