So you've booked your flight, now it's time to save up money to spend on your next trip. This is the daunting part of traveling. Constantly wondering how much is enough or too little. No matter what amount of funds you need for your travels, you can save. It won't be easy, but it'll be easier than you think. Before you know it, you'll be salsa dancing in Cuba.
Here's five ways to budget for your next trip:
1. Envelope Method
This one's a bit old school. The envelope method works by separating your money into different categories with each occupying its own little home. So, you'd have your bill money in one, travel in another, food, fun etc. By keeping your monies separate it helps to deter from mindless spending. As for your travel envelope, this out-of-sight-out-of-mind technique is helpful to avoid dipping into your savings.
2. Money Jar
Keeping a money jar is great for someone who's more visual. You'll literally be able to see your money piling up, rather than stowing it away. This can be great motivation to keep saving. Perhaps you put in one dollar (insert your currency) everyday for one week. The next week add two dollars and keep increasing the amount overtime. Try to think of it as paying yourself and by the end you will have so much money to spend on your trip.
3. Money Saving App
If you're more of an app lover, then downloading an app where you can digitally transfer your funds might be best. There's a bunch of piggy bank style apps out there, but one of my favorites is Qapital. It's a money-saving app that allows you to set a money goal with a specific reason in place.
Start saving by picking a type of savings goals: "Do Something", "Go Somewhere", "Get Something", "Pay off debts", "Just Start Saving". I choose Go Somewhere, but whatever your reason is for saving setting intentions from the beginning is necessary.
4. Cut Out Something
One of the biggest ways that I was able to save for my latest Europe trip that I planned one month before going (don't be like me), was cutting out the unnecessary. For me this meant saving the money that I spent buying food. I am a full time university student and also a senior without a meal plan, so I spend a lot of money buying $9 tacos.
Before my trip, I decided to cut out this luxury and only ate food from home. I would pack my lunch, dinner and snacks before leaving the house. If it was a short day, I would bring fruit or other healthy snacks to hold me over until dinner. For longer days, I brought two meals along, lots of water and fruit.
The money that you will spend shopping for a weeks worth of groceries is far less than you would spend buying expensive food on the go. Because do you really need an $11 poke bowl when you're about to be eating fresh pasta in Italy? I think not.
What's your favorite money saving method? Comment Below!
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