Travelling can be costly regardless if you choose more affordable destinations. The cost for travel not only include ticket plane but also other expenses such as foods, ticket entrances, transport, accommodation, and more. Not to mention that travel expose you to various risks of accident and injury. Hence, you also should keep emergency funds for the trip. There are many ways you can afford a trip to your dream destinations. One of them is save money until you are sure that you can all of expenses of your dream trip.
Managing your money to afford a dream trip
Saving money is not as daunting as it may sound. It seems so for those who are not used to do it. However, you can develop a habit of saving money gradually. For your dream trip, here are some money saving tips to consider:
Manage your money
Managing money is the key to successful financial security regardless of your goals. No matter how much you earn every month, it may go to waste if you cannot manage it well. When managing your money, there are important factors to consider. How much money you need to last for a month, how much money you earn, how much you spend, and how much you can spend. Assess you finance thoroughly from extra income to small expenses. Then, make your own calculation of it.
Once you know the detailed calculation, you can start creating a budget. Make sure to categorize each spending so you know where your money goes to. Then, determine saving potential that doesn’t require you to change your lifestyle. Commit to your commitment to save money and it will gradually become a habit. You may also save money with the equal amount you spend for buying item. For example, you buy a pair of jeans for $34 then you should put money into your saving account or moneybox in the same amount.
Cut down unnecessary spending
There is possibility that you spend more than what you need. Making cut is necessary to optimize the potential of your money in more effective ways, especially to make your dream trip come true. Categorize each of your spending into two main categories; want and need. Reduce your spending on ‘want’ category and see if you can survive with that. You can cut down your budget by making coffee at home, staying in at night, eating out less, etc. Then, allocate the money you usually spend on those activities into your saving account.
Increase your income
Aside from managing your money better and cutting down unnecessary expenses, you can also save more money by earning extra income. This way, you may be able to afford your dream trip sooner. Earn extra income from selling stuffs, working extra hours, taking a second job, finding more alternative for passive income such as investing, completing paid online survey, tutoring students online, taking some freelance works, etc. You can even find a job while travelling to help you earn extra money for the trip.