Ready To Save Money For Travel?

Posted on August 18, 2021 by in Home.

Many people love to travel, but not everyone believes that they have the funds to do so. So how do you save money before a trip?We are aware that all family and financial situations are not the same so here are some tips.

Photo: Unsplash

Step 1: Inventory of your expenses and income

First of all, before you start saving money for your upcoming project, you will need to establish an accurate inventory of your budget; what is your income? What are your expenses? Do you want to invest? Have you thought about investing via cryptocurrency to help fund travels in the future? You may want to look a little further into Bitcoin regulation first but you should always keep track of all investments and savings in a spreadsheet. Excel table or pencil paper, take the time to open the application of your accounts and classify your expenses into several categories: Accommodation, transport, leisure, withdrawal, bank charges, insurance, telephone package etc.

Step 2: Define the budget for your trip to set a sum of money to reach

Save money for travel, yes, but exactly how much do you need to save? Before your departure, you will have to go through the steps of asking yourself these questions: How much will the trip cost me? How much will my life cost me there, accommodation, transport, food, activity, visit? Do I need a VISA? There is thankfully plenty of information on blogs or directly from travelers. By taking stock of your expenses and your income, you have achieved a result. This result is a sum of money that you can already set aside for your future trip (and why not in a bank account dedicated to your trip elsewhere?).

Cut your unnecessary expenses

This first tip is not the most revolutionary, and yet! Start at the beginning by going to the most obvious: Cross off your list of expenses that you can do without, those that you deem unnecessary in your daily life. As we told you earlier, saving money starts with not spending any more than you need. You don’t need that pass for an airport lounge, or perhaps you don’t really need to spend so much money on accommodation as long as it’s clean and central. Perhaps you don’t need to buy so many clothes for the trip and maybe you could invest in a good pair of shoes so that they are versatile. Versatile options for travel will always be the best bet!

Buy useful / Put some order in your food shopping

Once your unnecessary expenses have been swept away, tackle another expense item: Your shopping! If you want to save (a lot) of money before a trip, you’ll have to look at what you’re buying when you’re there. Changing some of my habits, and that starts with the way you shop and consume:

  • Go to the cheapest supermarkets in your area.
  • To save money as much as possible, consider limiting the purchase of expensive products which are often not necessary for your diet.

 

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