Do you know how to save money for your trip? Do you know how to handle personal financial savings?
If you usually struggle with the answers to these two questions, then here is a good read that will enlighten you on how to save funds for your travel destinations wisely.
Travel involves traveling to a different geographical place for leisure, business, work, or adventure. It also affects people, funds, destinations, and modes of transport. Travel can be by foot, bicycle, automobile, bus, truck, rail, or air. It can be a one-way or round trip, long or short stay. The focus of this guide is for you, especially if you intend to travel for short stays during your next destination. As funds and plans are required to make a journey, you must save well in advance, especially if you are a budget-conscious traveler.
Well, with funds and plans in place, you are ready. Wake up. Go out and eat. Meet people. Adventure, do things and see things, and enjoy. The common denominator is movement.’ Scott says that I have traveled to lose myself and find myself; I’ve traveled for silence, peace, and time.
6 Ways to Save Money for your next destination
Several ways can ensure that you save money for your next travel destination.
- Make your plans with concrete goals.
Put a budget to it. Decide when and how, as well as where you want to go. Search hotel costs, travel, meals, and other logistics like shopping, park fees, and snacks. This will give you a specific idea of how much you will need to meet your goal.
- Start saving and make it easy.
Make it as easy for yourself as possible. Start saving months in advance. Set up a separate travel savings account with automatic savings, if possible. You can save in bank accounts that do not allow frequent withdrawals or ask your employer to be deducting a certain percentage monthly. You can also pay in advance for travel tickets and hotel. Set aside a portion and save for your vacation if you receive a windfall. The windfall comes in as bonuses, dividends, tax refunds, salary raises, or a business boom.
- Find ways to add income.
There are only two ways to make money; making more money or spending less. It is easier to cut expenses than find time to increase your income. Easy ways of making extra income are having a yard sale, doing freelance jobs, selling unused furniture, and taking up part-time jobs. They all add up. Remember your goal and set it upon yourself that extra income is for savings for your next travel destination.
- Write it down and go public.
What is written is achieved. Research has shown that you are more likely to achieve your plans if you write down your objectives. The reported goal should be posted in visible areas in your house. Also, go public and tell your family, friends, and colleagues about your upcoming vacation. This way, you will be more committed and focused.
- Cut down on recurring expenses.
You need to analyze and sacrifice what you need to cut down to save funds for your next travel destination. These are frequent, period, and regular expenses that we all incur. These recurrent expenses include car expenses, phone expenses, pay-TV subscriptions, dining out, movies, home phone line, and coffee (a difficult one!).
- Subscribe to newsletters and online booking sites.
These two platforms provide you with guides on when fares are low or when hotel rooms rates are low. They guide you on special rates and discounts, which makes you save money that can be translated into meals or other amenities.
Above all, please take travel insurance, a phenomenon that is increasingly becoming a necessity. This is a cheap way of cushioning yourself against risks, dangers, or medical problems that may come your way.
[1] Wikipedia, Travel; Retrieve https://en.wikipedia.org/wiki/Travel [2] Matador network, Travel Stoke, What is Travel? And What is A Traveller?, Scott Hartman; Retrieve https://matadornetwork.com/bnt/what-is-travel-and-what-is-a-traveler/ [3] Travel + Leisure, How to Save Money for Your Dream Trip (February 24, 2016), Caroline Hallemann; Retrieve http://www.travelandleisure.com/articles/how-to-save-money-for-vacation [4] Let’s Go Bear Travels, Family Travel Made Easy, 7 Tips to save money for your next family holiday; http://www.letsgobeartravels.com/7-best-tips-save-money-next-family-holiday/
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