15 Simple Ways to Save Money for Traveling the World
So you’re getting ready to plan a trip! The number one concern when it comes to travel for many people is the financial bit. Not everyone was born next to a tree full of money, nor does everyone make six figures a year. Does this mean you can’t travel the world? Of course not!
We rounded up 15 simple ways to help with planning for a trip of any size, and some of these tips will also simplify your life, which is an added bonus!
- Take a look at where your money goes each month. Yep, you will have to take a close look at your bank account if you haven’t already. How many subscription services are you paying for? Can you cancel all or some of them, or even place them on hold? How many times do you go out for coffee? How many times do you go out for dinner or drinks? Figure out what you are spending on necessities vs. non-essentials, this stuff adds up! Take a deep breath, tally up your extra expenses, and you might be able to finance your whole trip!
- Cook at home and invite friends over instead of going out. If you want to get out of the house, have everyone meet up at your local park for a potluck picnic! You can even start growing your own herbs or veggies at home to save even more money.
- If you must buy, buy used. It is amazing what can be found at second-hand stores. Dishes, boots, clothing - chances are, you can find a new outfit for a fraction of the price if you hit up your local thrift store!
- Walk or bike. If you live in a city with public transportation, look into the cost of driving vs. the cost of buying a transit pass. You might be surprised at how much you can save!
- Carpooling, don’t forget about the good ol’ tradition of sharing rides to work! Even if you don’t work together, if you and a friend are heading in the same general direction, ride together and take turns driving!
- Limit how often you buy a $5 cup of coffee. A bag of coffee beans costs as much as a cup of coffee these days! Brew your own at home, then take it along with you to work or school.
- Take a break from upgrading your cameras, computers, phones... if it works, you probably don’t need the shiny new version while saving for travel!
- Switch your phone plan to prepaid or use wifi only. In some cases, you can save yourself nearly $50 a month by switching to a prepaid plan! While abroad, it’s actually pretty easy to rely on wifi anyways, so having a phone plan where you only pay for what you use is ideal!
- Sell your excess stuff. Do you have clothing, shoes, outdoor gear, or electronics that is in working condition? Take the 3 month challenge, if you haven’t used it/worn in that time, throw it online and sell it!
- Create a separate travel saving account and DO NOT TOUCH IT! Make sure there is not a debit card or easy way to transfer money out of this account.
- Cancel your gym membership and exercise outside or at home - it’s free! You could even exchange those coffee dates with your friends for a hike!
- Host a game night instead of going out with friends. This is another potluck situation, plus a fun-filled night with friends without breaking the bank at expensive bars or restaurants!
- Split as many bills as possible with roommates- including music and video streaming services.
- Is moving back in with your parents an option? This can be a temporary but impactful solution to saving a large chunk of change before a big trip.
- Think outside the box! How creative can you get about having fun, making food, and reusing things without spending money? You’d be surprised at how easy saving money can be when you start to notice where it’s all going!
Have you ever saved up for a big trip? We’d love to hear what you did to pinch your pennies beforehand!
Peep these BONUS TIPS from a couple of our favorite travel bloggers:
Adventurous Kate - How I Saved $13,000 for Travel in Just Seven MonthsWorld of Wanderlust - 50 Ways I Saved a lot of Money to Travel the World