Saving Money for Adventures: Proving You Don't Need Fortune to Roam
Hey there! Fancy yourself a globe-trotting adventurer, but worried your bank account won't handle the dream? No sweat! Here's how I, an ordinary Joe, managed to see the world without breaking the bank.
Everyone thinks travel is reserved for the rich and privileged, right? Truth is, regular folks like you and me can pack our bags and explore the earth's wonders. The myth of travel being expensive is just that - a myth.
I hail from the USA and honestly thought international travel was unattainable for someone like me. But after spending the last 10 years gallivanting across the globe, let me tell you - it IS possible for the rest of us too!
Hundreds of emails poured in from readers curious about my money-saving secrets. I'm happy to share these tips and tricks that have helped me save up for my adventures.
Here's a peek at the advice I'm about to drop:
- Become Fiscally Responsible
- Track Your Spending
- Budget Like a Boss
- Cut the Fat
- Adopt Savvy Habits
- Reduce Lodging Expenses
- Sell Your Junk
- Get Creative with Your Saving Methods
- Ditch hobby expenses
- Go wild with grocery coupons
- Lower utility bills
- Cancel expensive services
- Sell your wares online
- Make Extra Coin
- Revamp Your Job
- Earn as You Explore
- Saving Might Be Tough... But It's Worth It
- Snag Helpful Resources
- One Last Piece of Advice...
Becoming Financially Fluent
Before I started earning a living as a blogger, I had to dig deep into my own pockets to save up for my travels. I didn't have trust funds or lottery winnings. I didn't work at a fancy job. I was a photographer in South Florida, making just $28,000 a year.
Living in an expensive part of the country and working for car dealerships and nightclubs didn't reap much, but I managed to squirrel away about $7,000 in a year by slashing my expenses and earning cash on the side.
I learned quick how to spend less, save more and be resourceful. It wasn't always easy, and it required some hard work and sacrifices, but it's all possible. Whether you're aiming for a few weeks or years of travel, the principles remain the same.
1. Learn to Play Financial Adult
It's okay, schools might not have taught you finance 101, but it's never too late to educate yourself. Money management is like learning a new skill - one that we all need to master. Chances are, your knowledge is sketchy at best, and you may have some bad spending habits that you've picked up along the way.
Traveling is a significant commitment demanding time, effort, and discipline. You've go to be determined and genuinely want it. Don't expect a fairy godmother to wave her wand and make it happen. It's all on you.
2. Log Your Expenditures
Money itself isn't stressful; disorderly finances are. To steer clear of unknowns and uncertainties, dedicate a day this weekend to go through all your accounts. Break out the wine and do some deep diving.
Tracking spending is crucial to identifying unnecessary expenses. You might not even realize the extent of your spending on daily expenses like meals out, bottled water, and last-minute purchases. By logging every penny, you'll soon discover areas where you can reduce expenses and even eliminate them altogether.
3. Budget Like a Pro
You've now got a comprehensive view of your finances. It's time to create a budget - ruthless and precise.
You'll need to figure out the cost of your travel, which can be as low as $50 per day if you're smart about it. The cost will vary depending on where you go and your tendency to splurge, but for budget travel, I suggest setting a monthly target of $1,500. That means you should shoot for a bank balance of at least $9,000 if you're planning a six-month backpacking trip.
By planning carefully, you can cut costs on accommodations, flights, and experiences. To learn the best budget travel tips, start here.
Now that you know your travel budget, make a realistic monthly savings goal based on the amount and time left till you hit the road. Then commit religiously to your budget. Assign strict numbers to your essential and variable expenses and don't deviate.
Budgeting isn't about restricting yourself, it's about making informed decisions and being mindful of your money. It's about taking control of your finances, and gaining confidence in your ability to travel.
[Enrichment: Free online budgeting classes are available online to help you master the basics of budgeting.]
4. Shed Unnecessary Spending
Sit down and classify your expenses as either "Needs" or "Wants." Be brutally honest - do you NEED Netflix at this moment? Is that cappuccino daily fix a necessity? What about beer and cigarettes?
Take a close look at your daily expenses and ask yourself if they are really essential. Will your life grind to a halt without them?
Total up your "Wants" and consider eliminating them from your budget.
[Enrichment: Cutting costs in the areas of entertainment, food, and alcohol can help you save money for travel. Check out alternative ways to have fun without breaking the bank, like inviting friends over for movie nights or going on hikes together.]
5. Embrace Habits that Save Money
What small changes can you make in your daily routine to save money? Could you walk or bike instead of driving or taking public transport? Can you prepare meals at home instead of eating out? Be open to lifestyle adjustments that save you money in the long term.
One example is learning to cook your meals. By ditching pre-made meals, you could save thousands of dollars per year on food alone. Plus, cooking can be an enjoyable hobby!
6. Save Big on Accommodation
Are you ready to think outside the box? Cutting costs on rent and utility bills can speed up your savings process.
If you have a few months before your departure, consider moving to a less expensive neighborhood or town. Share accommodations with friends or roommates to save on rent and bills.
[Enrichment: House sitting or pet sitting can provide free accommodations while traveling. Check out apps like Trusted Housesitters and DogVacay for a start.]
7. Liquidate Your Hoard
If you've got goods and gadgets that are collecting dust and aren't essential, it might be time to unload them. Sell anything valuable online on eBay, Craiglist, or even Amazon Trade-In.
8. Explore Other Ways to Save
Cutting back on daily expenses like dining out, entertainment, and shopping can make a dent in your travel savings. But it will take more than eliminating avocado toast to fund a long backpacking trip.
You'll need to get creative to make up for the shortfall. Consider taking on additional jobs or side hustles to earn extra income. Deliver pizzas, work as adog walker, offer your services as a virtual assistant, or teach English online for some quick cash.
9. Audit Your Employment
Not earning enough from your current job? It might be time to ask for a raise or explore job opportunities that pay more. Look for positions that fit your skills and experience and are bound to offer better pay.
Examine your current job situation critically and identify areas for improvement.
10. Earn while You Explore
Ideally, you'll be able to generate income while traveling. I built up a small online business before I embarked on my journey, which not only funded my travel but also provided a source of income on the road.
While my current revenue stream comes from my travel blog, the world of online entrepreneurship is vast and offers numerous ways to make money while gallivanting the globe.
Affiliate marketing, freelance writing, graphic design, computer programming, and working as a virtual assistant are just a few options. The possibilities are endless, and you can find the perfect fit depending on your skills and interests.
[Enrichment: Have a look at this list of The Best Travel Jobs** for inspiration.]
The Long Road to Traveling
Saving money for travel is no walk in the park - it requires effort, dedication, and sacrifice. But with the right approach and a positive mindset, you'll be on your way to exploring the world sooner than you think!
[Enrichment: Here are some useful resources to help you get started on your money-saving journey:
- YNAB - Fantastic budgeting software to help you conquer debt and save more efficiently.
- Mint - Popular app for tracking your finances, budgeting, and keeping tabs on your expenditure.
- I Will Teach You To Be Rich - A great book on becoming financially independent and responsible.
- The $100 Startup - An inspiring book about people who built successful businesses with minimal investment.
- The 4-Hour Workweek - This book encouraged me to delve into the world of online entrepreneurship, and it might do the same for you!]
So, shitty day job getting you down? Think about the adventures that await you if you take control of your finances and start planning your dream trip! Good luck - I can't wait to meet you on the road! ✪
Here are two sentences that contain the given words and follow from the text:
- To keep track of your travel expenses and save more, you can adopt the habit of budgeting, which is one of the crucial money-saving tips mentioned in this text. This could help you lower your spending, as demonstrated by the writer's success in saving $7,000 in a year while earning just $28,000.
- Another suggestion to fund personal finance for lifestyle choices such as travel is through adopting savvy habits. This can denote reducing unnecessary expenses, like those mentioned in the 4th point such as daily coffee or entertainment, or embracing habits that save money, like cooking your meals at home.
