I have met very few people in my life who do not share my passion for traveling around the globe. Apart from those, the rest of us loves to travel, to discover the stunning sceneries and visit the beautiful islands.
But here comes the reality check, traveling requires money.
So, how much do you actually save throughout the year to plan a vacation? Well, if you are like the other travel fanatics who have planned a vacation a long time ago but still have not enough money to plan a vacation, then this blog is just for you.
Here we have listed some tips that would help your saving for future travels.
So, without further ado, let’s get started.
1. Budgeting is Essential
So the first thing you need to do to save for future travels is to create a budget. You need to do a detailed study of the place you want to visit.
Decide your holiday destination and count all the expenses you need to finance, including fare, traveling cost, accommodation, food, and shopping.
Try to stay as realistic as possible while listing all the expense. Calculate the amount you need for the vacation.
Mark the date on the calendar when you embark on your vacation and count the days you have for the savings. Divide the amount require on the number of days you have to count how much you need to save in a month to finance that vacation.
2. Create a Savings Account
Once you calculate how much money you required, the next thing you need is to ensure you do not use the savings. So, create a vacation account to drop your required savings every month into that account.
You can also opt for the automatic transfers to ensure you do not spend the needed money on some other endeavor.
In my case, since I plan so much ahead of my desired travel time, I even invest my travel fund in a short term investment in the bank. Not only I am saving, but I am also earning from the interest.
Additional budget for me!
3. Cut the Convenience Out
While saving for future travels, you not only have to save money but also to cut off some of the incredible comforts of your life.
Think for a moment how much money you spent every day on petty items like snacks, newspapers, milk tea – haha- etc.? While there are alternatives available, why not save even the single penny to have loads of fun on vacation?
You can skip dine-in for few months for enjoying an amazingly unique food while traveling.
4. Enhance Your Income Stream
While saving for a vacation requires you to cut on the unnecessary expenses, it also requires you to find ways to enhance your monthly earnings.
You can opt for various ways to create extra income streams, including Tutoring, Online selling, or renting out your home on Airbnb and many more.
Discover other income streams from your passion. As for me, I love helping other people to have the best travel experience they could have. So I studied intensively and became a travel advisor.
Consider earning income from something you love doing. If you are looking to be a professional travel advisor as well, simply drop me a message.
5. Involve Your Family on Saving
The family that travels together, stays together. And the family that saves for travel together, go to more destinations together.
This is very true.
If you are planning on going on vacation with your partner or family, then try to indulge your partner or family members into the saving hike. It would make quite a difference when you combine the saving of all the members.
My Takeaway
You do not have to be rich to plan travel, but surely you have to be wise. Use the tips mentioned above for saving for future travels and materialize your vacation dream this year.
Hassle-free family budget tracking?
