How to save money to travel?

Travel is a good way to relax, enjoy life and meet new people, places and countries. However, travel can be expensive, because you have to pay for flights, hotel reservations, food, transportation, etc. For a good trip, with no worries, you should make a reserve for your trip. The main goal is to have money to cover all expenses you may have. Here are some tips on how to save money to travel, see below!

Set your destination

The first step you should take is to set your destination and trip goals like which activities you want to do, places to visit, etc. For example, you can choose to travel for two weeks in Mexico, with the intention of tasting local food.

See all related costs about restaurants, transportation, hotels, healthy care, groceries in the destination that you have chosen. On the internet, it’s possible to see all the information you need.

A good planning will offer peace of mind to you. Set destination and activities previously will show the upcoming costs of your trip and you can know which amount of money should save for it. 

Create notes about the trip on your smartphone or computer for help with your trip planning. 

Create a Budget

Now you have an idea about setting the trip destination, it’s time to create a budget to know how much money you will need for travel. So, separate the obligatory costs like flight tickets, hotel reservations, food, and non-essential expenses like parties, souvenirs and expensive events.

See how much you need to cover the essential costs. After that, take a look at your monthly income, to set the amount that will be necessary to save.

In addition, you should determine the period of time to reach your saving goals, for example, $500 per month for 3 months, a total of $1500.  If you have some trouble in your saving journey, it’s possible to readjust the goals.

Review your expenses

Take a look at your monthly costs before planning the trip, it’s important to cut unnecessary expenses to save money. You should follow your main goal: travel. 

If you have a financial plan, it will be easier to understand what the expenses need a review. Travel isn’t cheap, so you should evaluate your monthly expenses.

It’s important to remember that you won’t save money for your entire life, it’s just for travel, after that you can return with the old spending patterns. This stage is important to understand in which areas you can save some money and achieve your travel goals. After a careful review on your expenses, it’s time to cut expenses to save money.

Cutting unnecessary expenses

Now, with the destination chosen, activities and events selected, hotel booked, budget created and expenses reviewed, it’s time to see which expenses are possible to cut and how to do it.

Cutting expenses isn’t an easy task, it will change your habits for a period of time  in many ways. You must have in your mind simple things like the priority is your main goal, in this case it’s travel.

Here we separate which unnecessary expenses you should cut and how to do it to save money to travel.

1. Leisure

Leisure is important for everyone, but you can cut costs in this area. A good alternative to save money is to cancel subscriptions of streaming channels like Netflix or Youtube Premium.

You can enjoy the cheaper events, in Canada, it’s possible to take advantage of free parties, concerts, rehearsals or low-cost events too, so that you won’t spend a lot of money and search to look for it.

In addition, you can enjoy free options in the comfort of your home, the free version of Youtube is an alternative to listen to music, podcasts, watch basketball matches, etc. Individuals are always overspending with leisure, so take a look at your bills in this area.

2. Food

Food is essential for everyone, but it’s possible to overspend on it. Prepare your own meals instead of ordering food, it will be cheaper and you can save money to travel.

Try to buy products from cheaper brands instead of buying from big brands, with that action, you can save some money. 

Also, it’s important to reduce your dining out days, prepare your own meals, you can look for recipes on Youtube.

Reducing costs with food will give you some money to achieve your saving goals.

3. Shopping

You can cut some costs of shopping with a good mindset, don’t buy unnecessary things, only essential products for your day-to-day. 

Bad shopping habits can be a burden to your saving journey, pay attention to your expenses with shopping. Put in a paper all the costs related to everything you have bought.

Only buy essential things, this is the key for a good spending with shopping.

4. Transportation

Cutting costs with transportation is a good alternative to save some money, you can use public transportation instead of using your car or motorcycle.

Public transportation is a good way to save money, because it’s cheaper than using your own vehicle. You won’t spend money on petrol, gas, maintenance or insurance. 

It’s possible to use public transportation services like bus, train, subway and light-rail trains. To get access to it, you just need to buy a ticket or a transit pass.

5. Electricity

You can cut costs by reducing the electricity use, which is easy to do. These costs account for about 12% of the average household budget.

We have an array of alternatives to do it: you can power down all lights when are sleeping, turn down the thermostat, and don’t leave the TV or computer running when you don’t use them.

Electricity is essential, but you can cut expenses from bad usage habits, and try to improve your good consumption habits everyday.

Earn extra money

A good way to save money to travel is earn extra cash, there are a lot of alternatives to do that. You can create a Youtube channel and post some content that you are a specialist, invest your money, get an additional job, etc.

Saving money with your stable income can be a difficult task, so you have to look for other sources of income to have a peace of mind in your savings journey.

Investing your money can be the best option for you, but be careful, choose the low-risk investments. Selling things that are unused can be an alternative to earn extra cash to travel.

Open a savings account

One great tip is to open a savings account to help in your journey to save money to travel.It’s easier to have the control of your spending in this period of time, because you will put cash aside until the trip. 

You should transfer some money to your savings account each month in the period of time set. Furthermore, if you don’t have a savings account, contact your bank to initiate the opening.

Use credit cards with benefits

One good option to save money to travel is to use credit cards with benefits in your day-to-day spending. Some credit cards offer an array of benefits for your cardholders like cash back, points program, lounge access and discounts on flights and hotel reservations.

Look for credit cards with cash back rewards in Canada, to have a good return of money on your daily purchases like groceries. That money will help you achieve your goals in this saving journey.

The discounts on travel related costs can be useful to you, because they give an opportunity to pay less than you have planned in initial stages.

In addition, you can get a credit card with a points program. With this product, it is possible to redeem your points for flight tickets, discounts on services, money, etc. 

Also, you can enjoy travel insurance with a credit card, it will help you to cover that cost.

With the tips above, you can get a complete guide of how to save money to travel. Plan your trip with patience, understand what your goals are, look for places to visit, cultures to learn and people to meet.

A good plan to travel will offer peace of mind to you, a budget will be like a beacon for you in the entire trip. So, follow all the tips and you can save money to travel and realize your dreams, this is the main goal, enjoy life.

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