Image from Visit My Smokes
With the 2017 holidays and long weekends published, I am sure that many are now looking for ways on how to maximize it. And one way to do just that that would be to travel. As early as now, I know you are arranging where to travel and when to travel. But the bottom line is, you need money for it.
Good thing you bumped into this post as early as now. This is the perfect time to save up for it since it is still months away from your next vacation or trip. Let me share my ways on how I save money for my future trips.
#1 Plan it out.
The first thing you would need to do would be to plan. Since you already have the list of holidays by 2017, that can most definitely help to identify when. Begin by knowing when will you go, how many days and where. Make a goal that is relatively concrete. And start the search from there. Also identify how many people will be in the trip. Are you with your family or perhaps with your friends?
#2. Put a number.
After knowing where to go and when, the next thing to do would be to put a number to it. Begin by identifying how much would you need to shell out on this trip. If you are travelling with loved ones, know the bigger number and divide accordingly. This would be pretty easy when you are with your friends. Know the following details, modes of transportation going there and around the city, where to stay, spots to visit, food budget, pasalubong budget and a contingency budget.
#3. Realize the number.
After you have identified exactly how much you need to save, it is time to do the work to reach for it. Every time I need to save on an expensive purchase like a vacation, I tend to divide the number and the months I need to save. For example, if I decide to go on a vacation by August, with a budget of 30,000, that gives me nine months to save up from December to August. Hence, I will divide 30,000 by 9. Starting December, I would need to save as much as 3,333. To help me with saving, I can auto deduct this amount from my ATM every payday. Since I am paid twice a month, I would need to save 1,667 during the 15th and 30th. With that, I don’t need to worry on savings since it is auto deducted from my payroll straight to my travel fund. And by the way, I still have a 13th month coming up so that can help me speed up my 30,000 goal by putting a certain percentage to my travel fund.
#4. Look for cheaper alternatives.
Travelling and going on a trip doesn’t need to be expensive. There are items that you can always downsize in order to get more for your money. For one, you can subscribe on cheap airfares and hotel deals. You can also travel when peak season is over as the cost of fare and lodging is relatively lower. You can always find friends in another city who can serve as your host throughout the entire trip. This can definitely save you a lot. In case you don’t have a friend in that area, look for houses or rooms that you can rent out rather than staying in hotels. Research on ways that would help you move around the city by going on public transportations rather than riding a taxi every commute. Go on travel or package deals and dividing it amongst your family members and friends.
#5. Cut less on expenses.
To further stretch your savings and add more to your travel fund, you might want to cut on some expenses that you are used to. You can forego your everyday latte trip in order to afford that August trip instead. You can also save all your coins at the end of the day. Get rid of the clothes in your closet by selling it to eBay or other online shopping sites. Remember, make more money and spend less.
Going on a vacation or a trip can be costly. However with proper planning ahead of time, you can make this a challenge instead. So always do your research where you can cut expenses today and even on the day of your trip. It doesn’t have to be expensive. You just simply have a dedicated fund that you have saved up for x number of months enough to get you ready on the road for that truly memorable vacation.
P.S To those doing the 52 Week Money Challenge, did you deposit the next amount yet?
P.P.S Want to know more about investing, savings, stock market and more, check out my reference here. You can download free ebooks and resources too.
P.P.P.S I am also sharing my stock market secrets and information via these resources.