Money Saving Tricks to Help You Travel More
The truth is travel costs money. And like the saying goes, ‘if travel were free, you’d never see me again.’ And one of the number one reasons people put off travel is due to lack of money. Most people know some basic money saving tricks like; making coffee at home, bring a lunch to work instead of going out, and having friends over for a fun night in instead of spending money on going out.
But maybe you want to up your money saving game. And here’s a new truth, there are tons of money saving tricks out there. Some may be fun, like getting paid to shop, while others may take more time, but little to no effort. So, I joined up with a handful of other travel bloggers to share with you some of our money saving tricks to help you travel more.
5 Money Saving Tricks
Reverse Budgeting – Danielle Desir from The Thought Card
In addition to automatically saving every pay period, here’s a money hack that can help you afford to save more money towards travel. Reverse budgeting is a manual approach to saving by tracking unspent funds and stashing it away immediately. So next time you opt out of drinks with friends (~$20) or a pumpkin spiced latte (~$6), immediately transfer those savings (~$26) into your travel fund or savings account. Essentially, reverse budgeting saves what you did not spend (but perhaps would have). Last month I saved an extra $300 towards travel by being a little more financially conscious and acting on it. This means that I’m one step closer to ticking off New Zealand from my bucket list!
Related Post: The Art of Travel: Planning
Three Bank Accounts – Gemma Armit from Two Scots Abroad
Craig and I (Gemma) saved £20k to travel the Americas and Europe for 18 months while on a career break. One of the most useful tips I can offer is to analyse your income, outgoings, needs and wants then set up three banks accounts. The first account is for your pay, the second is your main untouchable savings account, and the third? This is another savings account but one you can tap into when you need to buy a wedding gift, get a haircut, buy the kid a pair of shoes because life still goes on while you are saving and you should not feel guilty about that. Remember – junk or journeys, if you can’t pack it then don’t buy it. Find out more in our 5 S’s of Saving guide.
Acorns App – Kate Beveridge from Her Travel Therapy
I save $100 every month by using the Acorns investment app. Half of that is from an automatic direct debit that I barely notice leaving my account. The other half is syphoned from my main account by the app. Acorn works by rounding up your purchases to the nearest dollar, and investing that roundup in a shares portfolio. For example, if I spend $5.50 on my card, the whole $6 will be taken out of my account, and 50c is automatically invested. The returns from investment are very small, but the app is more useful for forced savings. You don’t notice the extra amounts leaving your account, but it really adds up over time.
Cashback Websites – James from Portugalist
Although you should be saving every dime that you can, it’s inevitable that in the months leading up to your trip you’ll have a few outgoings such as clothes, utilities, or purchases for the trip itself like travel insurance or a new backpack.
Saving every cent you earn is never going to be a reality, but you can cut down your costs by shopping smarter. This means using price comparison websites to find the best deals, possibly even waiting until Black Friday to make any big purchases, and using voucher codes or cashback websites when you shop.
Many websites pay a commission to anyone who sends them paying customers, and Cashback Websites like Topcashback and eBates give you back the commission they earn. A hotel booking website might pay 8% commission, or a clothing website 10% commission, or an insurance broker might pay a lump sum of $50 – whatever the amount, they give it back to you.
Most people can expect to earn a few hundred dollars in a year and, since it only takes a minute or two of your time, it’s definitely worth doing.
Dime Bottle – ME
For me, one of my favourite money saving tricks is all about coins. While more and more people are strictly using cards to spend money, I still use cash. Not for everything, but I do give myself a set amount of cash every week. But, I save all the coins I get. I’ve always saved my coins. And while it doesn’t seem like it will add up, it does. Within 2 to 3 months it will add up to $50 to $75. That’s over $300 in a year, just in change.
And after browsing Pinterest I came across another idea to save money. A dime bottle. And I saved EVERY dime I got. My goal was to fill up a 500ml water bottle. When full it would give me at least $100. And it worked, $106.30 to be exact. But if you’re looking for more, try a 2 litre bottle. When full it will be at least $500.
Related Post: The Art of Travel: Before You Go
Like I said at the start, travel isn’t free. But if you put in the effort to find ways to save money, especially ways that are easy and effortless, your dream of that next big trip is closer than you think. And with these money saving tricks you can start saving today.
Do you have any money saving tricks?
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