Summer is just around the corner and maybe you’ve got a vacation coming up—or perhaps you’re already preparing your travel plans for next year! No matter where your wanderlust lies, you should start strategizing your savings plan to help you make the most of your vacation. Follow these tips to help you save money and boost your travel fund!
Set goals, stick to a budget
Setting a goal for your savings is a great way to hold yourself accountable and get your travel account where it needs to be before you depart. As you’re researching for your trip, take note of how much food, attractions, and your vacation lodging will cost you to help you come up with a daily or weekly budget plan. Once you have an idea of how much your basic needs will cost, you should give yourself a little cushion to allow for some flexibility and room for incidental expenses on your vacation.
After you’ve identified this number, it’s time to start taking action toward your goals. Come up with a budget to help you figure out how much you can spend in order to save up enough money to take on your trip, and have enough set aside to cover those additional expenses.
Use a savings app
Whether this is your first time budgeting or you’re a pro at meeting your savings goals, savings apps are a great resource to help you save extra cash. Some savings apps round up your purchases to shell extra cash into your savings account—the idea is that you won’t even miss that 25 cents or half dollar as you make each purchase. Other apps help you keep track of your saving goals and let you know when you can or can’t afford to spend money on that last drink or meal out to eat.
Use the $10 bill rule
If technology isn’t really your thing, you can go analog with your savings and opt for the $10 bill rule. It works like this: anytime you get a $10 bill, you are required to stowe away that Alexander Hamilton right into your travel savings. Think about the last time you got a $10 bill—it probably doesn’t happen all of the time, but it happens just enough to make a bit of an impact on your travel fund. Plus, a $10 bill isn’t something to shrug at when you’re trying to see the world on the cheap!
Get a side hustle
- Sell your old furniture and tech on OfferUp, Craigslist, or Ebay
- Sell clothes on Depop or Poshmark
- Get a part-time job
- Take surveys online for money
- Donate plasma
Make your lunch
According to the Bureau of Labor Statistics, the average American spends $3,008 each year on going out to eat. That’s $3,008 you could spend on multiple plane tickets, incredible lodging, and meals in different countries all around the world! Making your lunch at home could make a huge difference in your savings plan—and plus, that turkey sandwich is probably going to taste a whole lot better with the Eiffel Tower as your backdrop.
Book travel strategically
Traveling on a budget is easier than ever thanks to access to all of the internet deals and savings travelers have access to! Before your trip, be sure to subscribe to travel savings companies to score great deals on flights and lodging—even vacation packages that can save you a lot of money on your booking expenses.
Travel savings takeaways
If you’re looking for a way to make your next vacation a surefire success, just be sure to follow these savings tips to make the most out of your time off.