5 Ways to Save Money for Travel

how to save money

Whether it’s a relaxing stay in the Bahamas or an adventurous trek through the Adirondacks, everyone has at least one trip they’ve always wanted to take. And if insufficient funds are stopping you from checking your spot off the bucket list, you’re in luck. Because today we’re here to help you move your most wishful travel trip off the bucket list and into the plane ticket checkout cart in no time- with five money-saving tips.

 

Create a Budget   

This might sound like the simplest tip, but a budget will undoubtedly be the most helpful tool when it comes to saving money. And the best part is that you don’t have to drudge through the budgeting process alone! There’s tons of tools and websites out there. One great example is the free finance app, Mint. It’s an effective all-in-one resource for creating a budget, tracking your spending and staying organized. It will keep track of your bills and due dates (no more late fees!) and provide suggestions for staying within budget. Another helpful app is Wally. It’s also free, and tracks personal expenses- making it easy to create a realistic budget.

 

Sell Your Stuff

If you’re thinking, “how is selling stuff saving money?” Here’s how: you can make money off of the things you sell, and then save that money for future travel! Go through your closet, shoe shelves, kitchen drawers, garage, book shelves, etc. and sort through anything you no longer need. If you haven’t used it in the last 90 days and you don’t plan on using it in the next 90 days, say sayonara. Then sell those items online, using platforms like Facebook Marketplace, Letgo, eBay, or Poshmark (for clothes). You can even go above and beyond and list your things on local buy, sell trade Facebook groups. Spread the word with friends and family, or host a garage sale at your home.

 

Automatic Transfer to Savings

Saving money isn’t easy for everyone, especially when the money is easily accessible. So if spending your savings is just too tempting, make it more difficult to access. Set up a certain amount of money to automatically transfer from your paycheck to a savings account in a bank that you don’t normally use. You won’t see or think about the savings as often, and thus won’t be tempted to spend it on a new pair of shoes.

 

Needs vs Wants

Here’s another simple strategy to help you cut back on spending: Create a list of your expenses, categorize them into needs (essential to living) and wants, cut out your wants. Even if it’s temporary, all of the money spent on your “wants” can now be saved towards your next major travel excursion. Essential needs are things like hygiene products, groceries, utilities and a car payment. Wants could be weekend date nights, an Apple Music subscription or the newest video game. Eliminating wants might not be easy, but it’s an effective money-saving tactic.

 

DIY Gifts

Our last money saving tip relates to upcoming birthdays, weddings, graduation parties, retirement celebrations, you-name-it. Holidays and special occasions get expensive if you’re handing out huge gifts. While you’re saving money, try to make your own gifts rather than purchasing exuberant ones. It’s the thought (and saved money) that counts.

 

Does your next trip feel a little closer now? Take advantage of these money-saving tips and get ready to cross that dream vacay off your bucket list!