How To Save For That Epic Overseas Trip You’re Planning
The 12-month countdown to your trip of a lifetime has begun. You have the time and the energy – but what about the resources? It’s the only thing standing between you and a year backpacking around the world/relocating overseas for a year-long sojourn/a yoga retreat in the Himalayas. But when you’re dealing with $6 lattes and exorbitant South Yarra rent – how are you expected to save money for travel? Easy. These foolproof methods, starting out a year before you travel.
It’s a truth universally acknowledged that saving is boring: it holds a stiff stigma of denying yourself something that you enjoy or that is part of your routine.
One thing that’s worse than saving, however, is running out of funds on your long-awaited trip of a lifetime. Having to go home early is (obviously) out of the question, and having to hold back on the extras you’ve been looking forward to for a very long time is about as appealing as the kilometre-long line at airport immigration.
Don’t despair. There are many ways to save money for travel, and to have your around-the-world-cake and eat it too. You can save for your trip and not miss out on all the little things that make your life that extra bit fantastic. All it takes is some forward planning and some (very simple) adjustments, and you’ll depart your hometown with an enviable kitty.
Here’s your 12-month guide to help you save money for travel and taking that epic trip of a lifetime.
Twelve months to go: Download a spending-tracker app
Not just for the (very) distant future when you’ll finally have to forgo your avocado toast addiction and consider entering the property market – a finance tracking app is good practice for checking in on your spending habits. You’ll be exposed to some striking insights along the lines of: “so that’s where all my money goes.”
Eleven months to go: Create a budget
With your newly acquired tracking app, you’ll be able to see precisely where you can cut costs. Does a disproportionate amount of your income go towards food? Subscription services? Hair appointments? Allocate yourself a certain amount of expenditure per week and challenge yourself to adhere to it. (If you’re competitive in spirit – you could make this fun).
Ten months to go: Start a side-hustle
Now is the time exercise your dazzling talents that have been lying dormant. Spending as little as 20 minutes a day on a potentially lucrative project could parlay into a hefty stash of cash.
Nine months to go: Start selling your crap
Haven’t worn that sweater in over a year? It’s only gathering dust (and perhaps moth holes). Do a sweep of your home to and starting pulling out all the things that you think you could make money off. Listing items on eBay or getting a collection together for a market stall is cathartic and lucrative.
Eight months to go: Eat in, not out
Here is where you can really dispel the myth that saving is boring. Invite friends over for a potluck dinner in lieu of going out. It will also likely encourage you to clean your apartment – a double win.
Seven months to go: Shop around with credit cards
The best type of income is where you literally don’t have to do anything to earn it. Inquire at your local bank which cards and accounts accrue the most interest. Sit back, relax, and watch your money multiply.
Six months to go: There’s no place like home
Is temporarily moving back in with your folks an option? While it may not be ideal, having to unpack the dishwasher every now and then in exchange for savings a month’s rent – is a pretty good deal.
Five months to go: Cease all shopping
Every time you get a temptation to click “confirm” on a seemingly surreptitious online purchase – have a think about where else that money could be allocated during your trip. Now is the time to test your willpower.
Four months to go: End your subscription services
Pull in a solid with a mate and use their Netflix or Spotify accounts and cancel your own.
Three months to go: Eschew expensive exercise
You’re entering the home stretch: your trip is on the horizon. Even if you’re a member of a budget gym, it’s still an opportunity to save money. Every last bit helps, after all.
Two months to go: Bye Bye, Booze
Time to cut out alcohol. It’s expensive, and can all-too-well contribute to particularly unproductive mornings. (Mornings that could be spent working on that side hustle!)
One month to go: Get paid to take your vacay
If you’re staying at any one spot for an extended period of time, look into finding some work within the local community. It will also double as a good way to make some mates. What’s not to like?
No you have some ideas for how to save money for travel, check out other weird savings hacks to get you on your way sooner.
(Lead image: Monica Silvestre / Pexels)