How To Save Money to Travel
I know that this isn’t easy for everyone, and
I’m not trying to say that it is. For
many people, the largest purchases they’ve used their credit or debit cards for
range in the hundreds of dollars, not thousands, so telling somebody that they
need to fork over several thousand dollars is daunting.
With cost in mind, the question
becomes, “How am I going to afford this trip”?
The answer lies in how important the trip is to you. What are you doing in your daily life that
can be changed just a little bit to make this dream come true? There are 52 weeks in a year. For easier math, let’s say that you saved $50
per week. You would have $2,500 put
aside to be able to pay for next year’s vacation. Can you afford $100 per week? Bam! You have a
$5,000 vacation bought and paid for. If
you could do that for an entire year, then this becomes extra money that you
didn’t need for your bills, and annual or semi-annual travel goes from being a
pipe dream to becoming a reality.
What are some of the changes you
could make? Financial experts always
start with looking at how much you eat out, coffee shops, going to the movies,
etc. Of course this is sound advice, and
it doesn’t have to mean drastic changes to your lifestyle. Do you use Groupon for all it’s worth? Have you checked out Restaurant.com? What about buying discount gift cards at
Costco or online? Nobody says you can’t
gift yourself! Could you eat at home or
pack a meal once a week more than you do?
Are you eating those leftovers you brought home, or just throwing them
away? Without going crazy and brewing
all of your coffee at home or reusing your teabags, does your favorite retailer
have a rewards program? Do you actually
finish (or need) a beverage the size of a small pitcher? Pay for what you’re
actually consuming instead of paying to throw it away. If you’re into makeup or jewelry or clothes
or accessories, how much and how often are you purchasing? If you’re going to make this vacation a
reality, you need to be honest here.
Again, we are talking $50 a week.
If you’re spending that much in these areas, maybe you could invest some
time in searching for better deals, or find those tricks to stretch your
makeup, or take a serious look at your closet and reuse instead of always
replacing. Look for a surplus
merchandise store near you for groceries, home goods, and more. Compare the savings to your regular grocery
store, and put that cash you just saved aside for your trip. Look at subscription services for movie
theaters. Some now offer unlimited
visits to the theater for the price of 1-2 movies per month. As long as you don’t blow it all on the
concession stand, this can add up quickly.
The same is true for cable TV.
Some phone companies are now linked with Direct TV, so you can stream
from your phone to your TV and cancel your cable bill.
One of the biggest costs for most
vacations is airfare. Have you looked
into a mileage credit card? Sure, it
seems a little counterproductive to tell you to open a line of credit while
asking you to save money, but stay with me here for a bit. Several programs offer a hefty mileage bonus
for signing up, and another if you spend a certain amount within a set
timeframe. Find out if any of your home
utilities can be paid for with the card, and only use it for that, and maybe
gas and groceries. Don’t use it for any
purchases you don’t already make on a regular basis; your extra money is
supposed to be going for the vacation, remember? Once you have a mileage account, you can
usually buy miles that you may be missing, which can come out cheaper than
purchasing your ticket in cash. This is
a great way to save a significant amount of money on your vacation, but it does
require discipline.
Do you need help with discipline
once you’ve committed to saving? Talk to
your bank or credit union about a “Christmas account”, which won’t let you
access the account until November each year.
The amount you choose can be automatically deducted from your checking
account according to your schedule.
There are tons of online savings accounts, as well, which can also be set
up to withdraw from your checking account at regularly selected intervals, or
you can make a payment if you happen to find some money lying around. Both of these are good options, because you
won’t see the money every time you check your everyday account balances, so you
shouldn’t be tempted to try to spend them.
How do these thoughts sound to
you? Please feel free to comment. If you’re looking for inspiration for your
next vacation, please visit our websites: www.TourDCwithUs.com and www.VaFeltre.com .