There has been 3 times in my life when i have had to save for a extended travel trip. The first was when i was 25 and traveled europe, the 2nd was when i was 29 and i traveled Asia, South & central America and the third time is right now, for my trip to South east asia and then onto Barcelona for the for see able furture.
These tips are for everyone, but probably aimed more towards the “financially challenged”. I manged to save for all the above trips on a very average salary.
Each time is just as hard as the other however, I have now developed a methods that make it just that little less painful 🙂
WORK OUT HOW MUCH YOU’LL NEED.
- Cost of flights
- average cost of accommodation
- How much your need for fun money ( knights out and excursions)
- Pre trip stuff – basically the contents of your backpack – clothes, shoes, books, toiletries ( everything you’re going to have to buy to go)
Of course, these costs will differ depending on what you plan to do, what type of accommodation better suites your comfort level etc however, Research costs of accommodation, and the places you plan on going so you don’t get any surprises that eat into your budget.
If your like me i would also reasearch the following
- Cost of internal travel , Trains Planes and automobiles
- my daily spend on food drink and local travel
- set aside some emergency money
SET A SAVING TARGET , A TIME FRAME & A SAVING STRATERGY
Right, now you know exactly how much your need, the next step is to work out how long you have to save it up its important to be realistic at this stage and the best way to do that in my experience is in simple steps
Step 1 – The Easy Part – write down the sum of your total in come then subtract all your essential out goings ( rent, food, bills, travel. etc)
Step 2 – The hard part priorities & Cutting way back on you spending. The sum left after all your bills etc are paid is basically what you can save each month. Unless you have no social life outside of work, which is not likely, then you wont be bel able to save it all. You will need to prioritise but most importantly cut riggggght back! .
* Tip – I set my self a daily allowance to cover my non-essential (i.e going out with friends, cigarettes, buying a snack) . This means i might only be able to afford going out to cheap dinner once a week or sometimes not at all but hey no one said it would be easy but i can say it will be worth it.*
Step 3 – The Real part – once you have deducted your “allowance” from the sum after essentials, you ‘ll have the figure that you will save each months, divide that figure by the total saving target figure and bobs your uncle, your know exactly how long its gona take you to reach your target.
Step 4 – Put that monthly sum into a seperate account, preferably one you can touch.
I like to do this excercise each month, that way I can see my progress and also stay on target.
STAY STRONG AND STICK TO THE PLAN!
my moto is – if it’s not in the savings pot then it’s not money saved. So make sure any money no matter how small is put into your holiday fund account. Remember it may seem never-ending and that your missing out in the short term but trust me, you can not put a price on the experience you will have! the saving up is totally worth it.
A FEW HANDY TIPS TO BOOST YOUR WEEKLY? MONTHLY SAVINGS
- if you do as I do and set an allowance amount, then at the end of the month IF there is any left over then put it straight into the savings account no matter if its £5, if you didn’t use it then you don’t need to use it.
- Make your own lunches for work and cook your dinners – no take aways no going out to dinner -go out for a drink or coffee instead.
- Dont buy that daily coffee from Starbucks.
- Do a car boot sale or three – I do everytime im going on a long trip – Get rid of all the stuff i don’t need or want and get a little cash.
Before you know it this will be you setting out on a life changing adventure Good luck and happy travels:)