Many people hesitate to go on a journey and prevent themselves from having the best trip because they think they can’t afford it. However, with proper planning and saving, you can travel with a small budget. Take a look at this article to know how to save money for travel.
10 Tips to save money for your vacation
1. Set clear a plan
First and foremost, you must have a clear plan and stick to it.
You can start by making a list of what will happen during the trip. Think about where you’d like to go, how many days you spend on the trip and what you would like to experience.
- How much money do you need to save?
- What is the minimum amount you will need without starving or trapped?
- How can you manage your finances when you return home?
For example, if you’d like to travel to Vietnam for a month, you’ll need to spend $700. Therefore, you’ll need to save at least $1000 in case of emergencies.
With this outline, it’s easier to plan what to do to make your trip come true.
2. Arrange your finance
A few months before traveling, make sure that you avoid paying for unnecessary things while abroad.
Call your car insurance company to tell them that you will not be using a car and need them to lock your account until you return.
If you do not intend to use your mobile phone, you can tell your service provider to lock your account so that you will not be charged. You should do the same with Internet services.
For other bills, make sure you have enough money in your bank account to pay. Double-check if you can log in and pay your bills online with your credit card.
3. Write down your income and spending
Before going to bed at night, make a list of the expenses you spend during the day. This action will help you control your spending and easily grasp the financial situation.
I use an app called Money Lover to monitor my income and saving.
4. Have a to-buy list
One of the easiest ways to save money is to have a list of things to buy when you go shopping.
Because if you don’t have a specific list, you often shop unplanned and easily fall into the over-buying situation.
Making a list helps you ensure your spending and not buying unnecessary things as shopping is easy to get addicted to.
5. Eat breakfast and dinner at home
Cooking at home only costs a few bucks, while having a meal at a restaurant costs way more.
You should spend time on the weekend for meal planning, shopping, and preparing basic dishes for a week. You can quickly microwave these packs and have a budget breakfast/ dinner at home.
6. Cut the unnecessaries
We all indeed love comfort and luxury, but if you cut back, you’ll save more money than you think.
Stop using taxis, stop drinking expensive Starbucks, stop the unnecessaries you don’t need. You can start making your coffee or use public transportation instead.
Cutting back on these spendings will save you a lot more money than you think. When you realize how much you save, it’s easier to get rid of your needs.
7. Save from the smallest actions
Start by doing little things to save money.
- Turn off lights or electrical equipment if not needed
- Choose a store with a discount program
- Use your membership card to get more incentives
- Walk to save gasoline and improve your health
8. Reuse your stuff
For example, if you are bored with old things, improve them.
Instead of having a pair of long jeans, cut them into shorts, and wear them at home. You can also use broken pots to grow plants.
Besides, things that can no longer be used can be sold cheaply at secondhand shops.
9. Have a saving
Create a bank account to save money on travel. You can have daily savings and monthly savings. Not touch that account.
For monthly savings, you can use half of the salary for spending on monthly essentials. The rest is divided into two parts: one for saving and one for hobbies and interests.
You can try to put in a jar $5 per day for daily savings. At the end of the week, you will have $150.
10. Save every penny
We often disregard small currencies, throw them somewhere, and then forget.
However, it would help if you kept these small changes. Although they are low in value, the more you collect, the more you will get.