Save, Save, Save! How to Create Savings Plan For Travel

Photo Credit: epSos.de via photopin cc

Photo Credit: epSos.de via photopin cc

Travel is a once in a lifetime experience, however it is something that requires money to fund plans. There is no such thing as a money tree, I know this because I’ve searched extensively, so unfortunately it comes down to hard work, crafty thinking, and cutting corners; it’s all worth it in the end though, because travelling and experiencing everything the world has to offer is one of life’s great pleasures.

So, how can you save that much needed cash to enable you to jaunt off around the world?

Here’s a few ideas.

Planning

Whilst it’s always fun to head off spontaneously and not really think about anything other than where the wind takes you, you will run out of finances at some point, and end up coming home earlier than you might have otherwise thought. It’s for this reason it’s always a good idea to have a rough guide of where you’re going, how long for, and how much money you’re going to need whilst you’re there. Do some research and look at the cost of accommodation and attractions in the places you’re going, and this will give you a good starting point for your savings plan.

Budget

If you’re working and putting money away for your plans, create yourself a budget for your monthly outgoings and work out how much you can realistically afford to save. Put this amount in a high interest savings account, and don’t touch it!

Second job

Weekend or evening jobs will mean you’re taxed more on that incoming cash, but the rest is yours to keep. Look at whether there is any overtime going in your current job, and if not, look at other opportunities you could use to turn into cash. Again, put it in that savings account.

Collect rewards

Have you heard of Avios? Well, this is a very crafty and beneficial way to save money and put towards your travel costs. You simply collect travel rewards though Avios on your everyday purchases, the things you’d be buying anyway, and put these towards your planned travel adventure costs.

Look at your monthly outgoings

Are you paying for something you’re not using? For instance, do you pay for a monthly direct debit gym membership, but you rarely go? Do you have a mobile phone contract that is coming to the end of its life? Look at your outgoings and see if you can reduce them in any way. The money you save can go into that savings account we were talking about.

Saving isn’t fun, and at times it’s going to be painful, but keep your mind focused on what you’re saving for, and the rewards will be more than worth the struggle.

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