The hardest bit about travelling is figuring out how you’re going to fund it. It can be an uphill struggle, but if you look closely at your situation and put some easy money saving tips into action, there may be a bit of extra cash right under your nose. Saving money is all about being organised and sacrificing a few unnecessary costs on a daily basis to reach your end goal – TRAVEL!
‘Travel is the only thing you buy that makes your richer‘
To get you in the right mindset for saving, we’ve put together 10 easy money saving tips that you can start implementing today and start working towards something that you’ve always wanted to do. It’s not going to be easy, but it’ll be worth it in the end.
Easy Money Saving Tips
1. Create a 5-Step Savings Plan
Assess – Look at your financial situation and make sure that your adventure is feasible; create an excel sheet that documents your income and outgoings and see how things are looking before you formulate your plan.
Set Goals – Small, short-term goals and large, long-term goals should make up your overall savings plan. Get specific and calculate your numbers. Be realistic!
Create a plan – This is the nuts and bolts of how you’re going to save the money for your travel adventure. This will usually involve cutting out needless expenditure and setting strict daily spending guidelines for yourself. It may also include generating additional income.
Test and Evaluate – Record your results on a monthly basis and compare these to your plan. Did you hit your monthly target? If not, readjust some stuff and keep going.
2. Start a Travel Fund
Set up a new account with your existing bank and call it something cool like, “Ticket to Freedom”. Pay your savings into it weekly or monthly and watch it add up with an app.
3. Spend Less Money on Food
Cut down on the take-outs and convenience food and spend that extra time buying real ingredients and cooking up your own meals from scratch. You’ll most likely have more energy during the day and it will bring yourself one step closer to travelling the world.
4. Ditch the Takeaway Coffees
Coffee is a huge monthly expense for a lot of people. A few dollars here and a few dollars there often prevents people from doing awesome stuff like travelling. If you’re out and about, try and take your own travel mug or flask full of home-bought coffee and take a jar of instant coffee to refill it while you’re out. Ditching a coffees a day at $5 each is a total saving of $1,825 per year!
5. Cycle to Work
Reduce your driving expenses by cutting down ion driving and bicycling to work. Even better, if owning a car isn’t totally necessary, sell it and put the money in your “Ticket to Freedom” account. Owning a car in the western world is often a reflection of status and many people buy expensive cars to impress people they don’t like. When we travel, we start to realise that crap like that doesn’t matter and become happier with less. If you really want to live your adventure then you need to start adopting that mindset right now and get rid of things you don’t need.
Minimalism is a movement about the realisation that material stuff doesn’t fulfill our lives in a sustainable way. the less material stuff you have to more you return to the basics of our needs and to experiences. This lifestyle, or parts of this lifestyle, can help tremendously to save money for travelling.
6. Sell Your Crap
The above philosophy starts here. If you root through your cupboards you’ll probably find a whole load of crap that you no longer need or, that you haven’t used, touched or looked at for a year or longer. Besides, if you’re planning on travelling the world, what purpose will your belongings serve while you’re away anyway?! De-cluttering gives us a great sense of simplifying your life. It brings peace and freedom to a certain level and is a big step on the journey to living life more simply. Let go of material possessions and start exchanging them for epic experiences abroad.
7. Use the Right Resources to plan Your Trip
You can either plan your trip the right way or plan it the wrong (expensive) way. Use the right resources that make planning your trip a lot cheaper by reading our guide, How To Plan My Adventure, and save money on flights, accommodation and travel insurance. This is by far one of the easy money saving tips that most travellers overlook.
8. Cancel Unnecessary Subscriptions
Examine your bank statement and look out for those recurring payments that are preventing you from living your dream. Things like Netflix, Spotify, and any other online conveniences that you give your hard-earned money to every month.
9. Get a Side-Gig
Earn some extra pennies by getting a second job. Everyone is good at something… consider what knowledge and skills you have and think of inventive ways of monetising them. One potential money-spinner is to join a freelancing site like Upwork and exchange your expertise for a little extra cash by choose from a range of gigs such as freelance writing, video editing, photoshop work, teaching English online and more. Alternatively, you might consider starting a blog about your passions and make money from affiliate marketing by using something like Wealthy Affiliate.
10. Visualise to Materialise
Stay on track by reminding yourself why you’re sacrificing small daily comforts for a long-term goal that is totally worthwhile. Collect some pictures, videos or articles to put them on your dream board. Our dream board at Viral Dreaming is the collection of the adventure dreams of random people with an adventure mission. You can see all dreams on the ‘inspire me‘ page. Visualise your adventure dream by sharing it with us and let’s make your adventure dream come true free of charge.
Easy Money Saving Tips [Bonus #1] – Decide How You’re Going to Make Money Whilst Travelling
Although you don’t necessarily have to take this step, it may be a good idea to plan how you’re going to support yourself whilst you’re abroad by either making money online or getting a job abroad. Having a money-making strategy in place could seriously prolong your trip and see you travelling full-time.
Easy Money Saving Tip [Bonus #2] – Make Your Travel Money Go Further
Avoid making the huge mistake of not covering yourself with a good travel insurance plan. This travelling blunder could end up costing you a fortune in cancelled flight expenses, hospital bills or on replacing stolen items abroad.
Easy Money Saving Tips – Putting it All Together
The easiest way to save money for travelling or whilst travelling is develop a minimalist mindset and be happier with less. Travelling is all about living for the moment and letting go of possessions that we spend money on just to give us short-term happiness in the places that we live. Living without these needless possessions and without the creature comforts we all enjoy means we can go on epic journeys and create life-changing moments.
Good luck… and stay focused!