How to save money for travel tips and tricks! The kids are off school so your thinking should we take a family vacation? Your stressed at work and need to plan a trip? The weather is so cold and you are dreaming of relaxing at the beach? If the answer is yes, the next step is to start saving, but how?
How To Save Money for Travel -Questions to Ask Yourself First.
Do you have large credit card debt?
If yes, unfortunately, I recommend skipping any expensive travel. For know and focus your savings on eliminating it. Here is a good article if you need help. You could also speak to your bank or credit union for a consolidation loan. Try a staycation, check out Pinterest for great ideas. Experience your own town or city as a tourist. You might find some new wonderful areas you have never seen before! Try a hiking or camping trip at a nearby state park!
Do you have an emergency fund?
Covid has shown how important an emergency fund is. You should have around three to six months of expenses in saving. This is in case of emergencies you can create an account you will not be using for your trip.
How to Save for a Vacation:
What are your dream vacation spots?
First a list of trip ideas, and your vacation goals for each. Relaxing on the beach? Theme park? Cooking tour? Hiking in the mountains? The possibilities are endless.
Next, write an estimated cost or vacation budget for each idea.
Some of the travel costs you’ll want to think about include:
Your vacation rental or hotel room cost
- How much you will spend on food and snacks
- If you need to buy any specific clothing
- If you need an international phone plan or wifi
- car rental
- ATM fees or exchange rates
- Extra cash for souvenirs
How much money you need?
Know that you have your ideas check your current savings, what can you use for your travel fund? Subtract this from the estimated expense of your vacation ideas list. This is the amount you need to save. Divide it by the months left in till you would like to take your trip.
Know you need to make a monthly budget. Figure out the amount you have available to put into your vacation savings? Cross out any of the vacation ideas that are too expensive for your budget.
Create a Vacation Saving account.
Depending on your bank or credit union you can call and ask to open a second travel savings account. Or you can add one yourself online. Next transfer any current savings you already have saved in your vacation fund.
Next, create an auto-transfer for the amount you are saving each month.
This will help you cut back on unnecessary spending. Because your spending lower.
How to Save Money for Travel – Cut Expenses
Here are some saving tips if you need to save more money to put towards your trip. Having a budget allows you to know exactly what you need to save on your expenses.
- Skip your next haircut, and/or cut your and your kid’s hair at home.
- Stop buying coffee and brew your own at home.
- Try and save money on your internet, tv, and cell phone plans.
- Skip eating out – try inviting friends over for an outdoor potluck
- Negotiating your bills, such as your cell phone, insurance, etc.
- Create a meal plan and order groceries online for pickup
- Talk to your bank or credit union to lower interest rates on loans or mortgages
- Workout outside or at home instead of having a gym membership
- Cut down on expensive hobbies
- Start a carpool for work or bike
- Use the library, don’t buy books
- Buy second-hand clothes, with a minimalist wardrobe
These are some ideas and are not for everyone. If some things on the list bring you joy please it might be worth more to you than a vacation. Also, I know with covid you might already be doing some of these already.
How to Save Money for Travel – Make extra money.
The extra income would be a great way to save for a vacation. This will be dependent on your schedule and skill set. If you want to make some extra money to help you figure out how to save for a vacation, here are a few ideas:
- Merch by Amazon
- kindle direct publishing
- Babysit or Pet sit
- Sell items you no longer use
- Sell a product you know how to make
- Uber driver or other company
- Ask for extra work at your company
- Mystery shop
- Teach Online
There are more ways to make some extra money these are a few examples.
Choose Your Dream Vacation and Make it a Reality
Once you choose your Vacation from your ideas. Set a visual goal, you can put your vacation savings in front of you, and motivate yourself to save money. And can curb any old spending habits. This isn’t always easy if your vacation is set for over a year away. Here are some ideas to make your vacation feel more real
- Set your phone and laptop background to an amazing picture of your destination.
Create a checklist for all the expenses you think you could cut or lower. Check it off once completed.
- Create a Pinterest board for your vacation. Pin tourist destinations, what to pack, flight deal sights, beautiful pictures, and travel tips all to your board.
- Have your travel budget and financial goal accessible. Place it on your phone or computer and remember to update it.
- You know you want to go, so why not share your trip plans with family and friends? Invite others to join in the excitement and get their input. This will make it feel real and help you achieve your goal. If they have been before they could have great savings tips.
How to Save Money for Travel – Look for Travel Deals
If you want to save money check out the travel deal website closer to your trip. If your work is flexible about when you can take vacation days you can get last-minute flight deals. You can also use sites like Hotwire or Priceline for booking hotels if you don’t mind which hotel you stay at.
Join a Reddit churning group there is ALOT of information. There are spreadsheets with every credit card and its points. And they are always updating them.
Using a cashback or travel point card on your regular purchases is a great way to add to your travel savings. I know that it’s tempting, but please don’t use a credit card to buy just anything. Still stick with your budget. If you feel like you can’t resist the temptation or are bad at managing your credit cards, then stay away from this. Some people choose to use cash to stick to their budget in envelopes.
You can do it! Saving money for travel can be a challenge. But knowing how to make sacrifices and save wisely will help you meet your goal.
Kelly grew up in a small beach town in the boreal forest. Now she is a mom of two adventurous boys. Before deciding to stay home with her boys she worked as a financial associate at a credit union and has always been very frugal. Living in Manitoba Canada near the Whiteshell, trails were plentiful and outdoor adventures always waiting.
Whether it’s biking on single tracks or swimming at the beach, summertime or winter, she jumps at every chance to escape the city and get back to nature.
Kellys other interests include cooking and more cooking