Wondering how to save money for travel? Here are 15 great tips to help you save up for your next trip. Keep on reading and start planning your travels soon!
Who already has travel plans for 2022? I know I do! Whether you want to visit family and friends abroad, revisit your favourite holiday destination or do a cultural exchange program, you’ll need some money.
We previously published a blog post about how you can make money while travelling, but this one is all about how to save money for travel. Here are 15 money saving tips to help you make your travel dreams come true in 2022!
How to save money for travel?
1.Set your intention
2. Plan your travel budget
3.Set up a direct debit to your savings account
4.Cancel unnecessary subscriptions
5.Look for offers in shops
6.Limit online shopping
7. Save on energy bills
8.Give yourself a cooling-off period for purchases
9.Swap and borrow
10. Make packed lunches
11.Buy generic brands
12.Create home restaurants
13. Do some DIY
14.Plan meals and shop once a week
15.Use alternative transport methods
1. Set your intention
First of all, set your intention. Here’s an example: "In 2022, I am going to go backpacking in Central America for three months", or "I want to travel toSouth America to learn about other cultures".
Having a very clear idea in your mind of what you want to achieve will help your plan on how to save money for travel. You can make your intention more powerful by writing it down in a journal or even by creating a vision board.
Believe that you are going to travel in 2022 and watch your dreams become a reality.
2. Plan your travel budget
Now that you have set your travel intention, you should work out how to plan your travel budget.
Find out how much it will cost to get there and how much money you’re likely to need on a weekly basis (taking into account local transportation, accommodation, food & drink and leisure expenses).
Once you know how much money you’ll need, take a look at your monthly budget (or create one) and see how long it will take to save up. Don’t worry if it looks like you won’t be able to save enough money at first. The tips below will help you!
3. Set up a direct debit to your savings account
Another great tip about how to save money for travel is to set up a direct debit to your savings account. If you haven’t done so already, contact your bank right now.
This is money you are not allowed to spend until you go on your trip! By putting money aside each month, no matter how much or how little, you’ll soon see your savings grow.
4. Cancel unnecessary subscriptions
Cast a critical eye on all your monthly subscriptions and ask yourself the following questions. Do you really need them?
If you find yourself watching Netflix 99% of the time, perhaps it’s time to cancel that cable TV subscription.
Are you actually using these subscriptions enough to merit having them? One example that springs to mind is a gym membership. If you only work out once a fortnight, it might be time to cancel.
Could you find cheaper alternatives? It may be handy to have a Hello Fresh box delivered to your door, but going to the local market and searching around for deals may save you a lot of money.
5. Look for offers in shops
Before you go out to do your shopping, check the websites of various supermarkets and shops to see where you can find the best deals.
You might find that the crate of beer you wanted to buy at your regular store is half the price at a different one, for example. And you could discover that the shop you wanted to buy new clothes from is having a sale the following week.
Doing your own research really helps you to save money for travel.
6. Limit online shopping
Another way you can be more sustainable and save money for travel at the same time is to restrict online shopping.
It can be so easy to spend your cash from behind a computer or smartphone screen; just a few clicks and your new purchases are on their way.
Unfortunately, a lot of people end up unsatisfied with their goods and end up sending them back. This is a waste of time, energy and money.
Try to spend money using cash in actual shops; you have a better idea of how much you’re spending (because you actually see the money in your hands) and a better idea of the products too.
7. Save on energy bills
Another thing to research is how to save on your energy bills. One of the ways of doing this is to switch suppliers when your current contract comes to an end.
Go online and see if there are cheaper deals to be found or to find out which suppliers offer new client discounts. You should also learn how to save on gas, electricity and water – you’ll spend less money while being more sustainable.
8. Give yourself a cooling-off period for purchases
How many of you have bought something on impulse, only to regret the purchase later? This is extremely common. A useful tip to try and prevent this from happening is to allow yourself a cooling-off period whenever you think you want to buy something you do not need.
For example: you see an amazing pair of shoes when you’re at the mall. You don’t need new shoes, but these are just so gorgeous you want to buy them.
Instead of following your impulse, go home and wait three days. If you still want the shoes, you can go back and get them. What you’ll probably discover is that your desire to have these kinds of impulse buys actually fades away. More money saved!
9. Swap and borrow
Perhaps you do not even need to buy or even own that item you want. Why buy a new dress for a party (which you’re probably only going to wear once anyway) when you could get one for free from a friend?
Try organizing a clothes swap party with friends – you’ll get rid of items you no longer wear while getting new ones without spending any of your hard-earned cash.
And why buy expensive items that you don’t often use when you could borrow them? Ask your neighbour if you can use their hedge trimmer rather than going to the garden centre to buy something you’ll only use a few times per year.
10. Make packed lunches
You’ll save a load of money for travel by taking packed lunches to school/work instead of buying food from the local convenience store.
According to some estimates, savings could reach up to $1000 per year! That will most probably be enough to pay for your flight to your chosen destination.
Moreover, why would you pay $5 for a tasteless pre-packaged sandwich when you could make a delicious one at home for a fraction of the price?
11. Buy generic brands
There’s no need to pay top price for branded products. After all, you pay a lot of extra money just to have a well-known label. You want to have good-quality goods of course, but generic products – like over-the-counter medicines, cosmetics and staple foods – are often just as good as their branded counterparts.
12. Create home restaurants
Eating out can be a very enjoyable experience, but it isn’t always easy on the wallet. Try to limit going out for dinner and instead set up a network of home restaurants with a group of friends.
Take it in turns to cook for each other, but make it extra special. Create the impression of eating out by writing the menu on a chalk board, lighting candles and serving wine in the proper way.
It’ll be so much fun and you’ll be able to put more money aside for your travels.
13. Do some DIY
Instead of buying new stuff, see if you can make things or mend them. Search the internet for video tutorials and learn some new DIY skills.
Are you bored of your old kitchen table? Perhaps you could paint it in a funky colour instead.
Want to throw out pair of jeans that are all frayed at the bottom? That would be a waste! Turn them into a stylish pair of denim cut-off shorts.
14. Plan meals and shop once a week
Another tip for how to save money for travel on food expenses is to plan your meals and do the groceries once a week.
Figure out what you want to cook over the coming 7 days and then write down the ingredients you’ll need on a shopping list. Add other essential items to that list and then head to the supermarket.
When you’re there, stick to the list and don’t give in to temptation. By doing one big weekly shop, you’ll buy fewer things you don’t need compared to when you go to the grocery store every couple of days.
15. Use alternative transport methods
Before ordering that taxi or getting on that bus, ask yourself if you could get to your destination on foot or by bicycle. And before you make that long car journey, see if anyone you know happens to be going in the same direction at around the same time. Not only will you be saving money, you’ll be travelling in a more environmentally friendly way too.
These are some very effective ways if you wonder how tosave money for travel in advance, but certainly not the only ones.
Now if you want to travel right now an alternative way that requires less planning is volunteer programs with Worldpackers. Check out those awesome articles on how to volunteer abroad with little money.
- How to satisfy your wanderlust without spending a fortune
- 7 actionable ways to save money while traveling
- 6 types of volunteer work abroad that gives you free accommodation
Do you have any money-saving tips to share with us and help other readers save up for their next trip? Let us know in the comments!
