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

money savings

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.

Save for travel

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 savings

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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5 Money Saving Tricks to Help You Travel More

Stephanie

I'm a Canadian gal with a passion for wildlife, the great outdoors and travel and hope to inspire others to feel the same way! Travelling mostly solo I love to explore Ontario Gems in my own backyard as well as exotic cities around the world.

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18 Responses

  1. Love this article, Steph! I, too, have always saved up my coins. Some tricks I have for saving cash are basic frugalities: cutting/dyeing my own hair, rarely shopping for clothes, and not buying superfluous items. In addition, the cell phone service I use is month-to-month (and super cheap!). My car insurance is pay-by-mile, which helps greatly since I don’t drive much when I’m in the States. Also, being a single woman whose main priority in life is to be on the road, I stash away 25- 50% of what I earn for future travels. Minimalism and frugality go a long way. I’m definitely going to download the Acorn app! Thanks for this post. 😀

    • Stephanie says:

      So happy you enjoyed it! You’re right, being frugal and cutting out unnecessary spending. But your car insurance sounds amazing! That certainly doesn’t exist here in Canada. lol

  2. I’m also a big fan of Ebates, I do a lot of my shopping online, and around the big shopping holidays like Black Friday I can do my gift shopping online and earn cash back for later. Great tips! 🙂

    • Stephanie says:

      I’ve never used Ebates, but have only heard great things about it. Plus, I always say, if you want to travel bad enough, you’ll make it a priority.

  3. Lindz says:

    I’ve never tried the dime bottle – I think I’ll have to give that a shot. At least then my change won’t be all over the place! Hahah 🙂

    • Stephanie says:

      I just amped up my coin savings by adding loonies! And if you’re going to do the dime bottle I recommend the 2L to make it worth your while! 😉

  4. Carolina says:

    This is a life-saver right now, as a PhD student I need this in my life! I have a friend who uses those apps that round up your expenses and invest those little cents in various businesses. Not sure I’m brave enough to invest yet with the little $$$ I have but might be worth looking into it!

    • Stephanie says:

      So happy to hear that this is exactly what you’re in need of. I totally feel your apprehension to the investing app but some banks will do something similar. Every time you use your bank card it will round up and place the extra in a savings account. Hope some of these tricks help get you on your next flight!

  5. Kristy says:

    These are actually really helpful tips – better than the usual, ‘take your lunch to work’ which I do anyway! Thanks for sharing!

    • Stephanie says:

      Thanks Kristy! It’s true, many of us know the average tips to save money, so I was happy to share some different ones that fellow travel bloggers use. Happy saving!

  6. This post was super helpful! You can never have too many money saving tips 🙂

  7. I like the reverse saving idea and I def need to use more cashback websites – i ahve a habit of forgetting about them until its too late! They are especially good for big payments eg car insurance

    • Stephanie says:

      The reverse saving idea was a big interest to me too! I’m the same way with cashback websites. I guess it’s a matter of making it a habit of using them.

  8. Great article. I am always looking for new ways to save money especially for travelling. Im very interested in the trying out the reverse budgeting technique. Some very helpful tips here.

    • Stephanie says:

      Glad you found the tips helpful Louise! I’m going to try the reverse budgeting technique too, that was one of my favourites from the list.

  9. Wow! These are some exceptional and very useful tips, Stephanie! I will definitely try to bear them in mind!

    • Stephanie says:

      I’m so happy to hear you found them useful Agness! There are so many money saving tricks out there and I’d love to learn more.

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