15 Easy Ways to Save Money for Travel

I will admit that I am the worst with money. If I have it… I’ll spend it, whether in travel or on my family, I have difficulty holding onto cash.

It’s like I play the game ‘hot-potato’ with $20.00 bills.

However I learned several tips on how to save for travel from the book; How to Travel the World on $50.00 a Day’ by author and well known travel blogger Matt Kepnes or also known as Nomadic Matt.

I read his book and found some great ideas for travelling on a budget and have since taken that knowledge with me through the years.

I have discovered with the right motivation and set priorities I could save money for travel without a huge change in my lifestyle.

Considering money is always tight for me, and I live a frugal lifestyle, I feel qualified to speak on this topic.

Have a clear goal

Be sure to set your priorities and know what you’re working towards. This is the first step to saving money.

This is easier said than done when my daughter is away from home as an exchange student. When she’s home I want to take her shopping… go for dinner and drinks and order Skip The Dishes.

Obviously, I would never save this way.

I have to be disciplined, which is difficult for a Gen-Xer like me. We invented the ancient proverb ‘work-hard\play-hard’.

However, a clear and disciplined goal keeps me on track.

Cancel those fancy coffees

Starbucks was officially my first cut-back. I needed to stop drinking vanilla lattes anyways for obvious reasons, but when I began brewing coffee at home I started saving a few hundred dollars. I’m embarrassed by the number to be honest.

It’s easy to grab a latte, just one, while at work. But that one latte… by the end of the month would pay for my frugal accommodations abroad.

A friend also gave me a moka pot for espresso, and I bought a $35.00 CAD milk foaming machine, and now I can make any drinks I want at home.

It’s genius really…

Photo by Sonalika Vakili on Unsplash

Cancel those painful subscriptions

I was so frustrated with random apple charges on my credit card each month. I finally figured out how to find the subscriptions I forgot I had and cancelled them all.

Except Medium of course!

The amount of charges for the apps and channels I had was depressing.

It felt great to finally get rid of those charges.

Sell your vehicle?

I suggest this cautiously because I know for a lot of people, and depending on location, getting rid of their vehicle isn’t an option.

But if you live in a city with a good transit system then minimizing this cost could be substantial. Especially if you’re leasing your vehicle.

Imagine deleting gas, car, maintenance and insurance payments. That’s a lot of money saved! Again, just an idea.

Profit from your hobbies

Anytime I think of a new hobby or art idea I can’t help but wonder how I can sell it on marketplace.

Right now I’m into punch needle rugs and I’m slowly building an inventory of handbags crafted from them.

If you have enough inventory and a unique and wonderful item, you could be a vendor at a market, or sell on marketplace as well.

Etsy is another option, many people have been successful, I just haven’t had much luck with the site.

Photo by Keisha on Unsplash

Deliver food

Why not work for Skip-the-Dishes or Uber-Eats? I believe you can earn fast cash and make your own hours. Aside from the cost of gas… you could make decent money.

If you’re an avid cyclist you could really profit.

Sell your old stuff

We all have old stuff to sell, my sister and I both make a few hundred dollars a month selling on marketplace. You could even check out the thrift shops and flip items.

Buy Pre-Loved

Because why not? It’s good for the environment to reduce, reuse, recycle. I’m currently looking for good affordable winter boots. I’m sure to save about $100.00 buying used.

Part-Time online work

If you have typing or data entry skills there’s always jobs looking for part-time temporary employees. The opportunities are endless when looking for online work.

Find a side-hustle

This could be anything from flipping items on Facebook Marketplace to starting a dropshipping business. There are tons of articles on side-hustle ideas which can even be done from the comfort of your home.

Reduce alcohol or drink at home

I stole this little saying from my ex-husband. In his youth he and his friends would ‘prime’ at home, and spend less at the bars.

I think the younger people today sneak in their own alcohol. Whatever way you can save money on going out, other than avoiding it altogether would be a huge money saver.

The way my daughter and I save money now, on the off chance we do go for dinner is to not order alcohol. It makes a big difference! Wine at home is always nice.

Embrace your cooking skills

One noticeable change during the lock down of 2020 was the collective interest in baking, especially sourdough bread. We had no choice but to save money during that time. Why not browse through online recipes or cookbooks at the used bookstores and find new favourite restaurant-quality meals? Pretty much any recipe you have a craving for can be found, and all it takes is a little practice to perfect that special dish. If you have a craving for Indian food… why not make it?

Automated savings

Another idea is to have a pre-determined amount deducted from your bank account each payday and transferred into a travel fund.

It depends of course on each individual’s financial situation but anything from $25.00 per paycheque will add up. $25.00 x 26 bi-weekly payments would come to $650.00 saved.

There’s also the option to have your travel fund deposited into a high yield savings account (HYSA). This is a savings account that offers a much higher interest rate than traditional accounts.

TFSA (Tax Free Savings Account)

Another great way to save money is to open a TFSA. Although the interest return is not as high as with an HYSA, it’s convenient and you can withdraw your savings without paying tax on it.

The TFSA can hold investments such as stocks, bonds, mutual funds, Exchange-traded Funds (ETFs) and Guaranteed investment certificates (GICs). With a TFSA you are also free to withdraw at your convenience.

Create your budget and keep track

If you find it difficult to keep track of your spending then jot down each and every expense you have in a month and decide what costs can be eliminated.

There are a plethora of budget apps to help you keep track of spending and motivate you to save.

If you’re disciplined and dedicated then you will be surprised at how quickly your savings will add up. Each saved dollar can go toward your dream vacation, so if you’re serious about travel, it’s time to start saving now!

As a Canadian, I wanted to share Gerald’s story of how he helped a Canadian return home! Thank you Gerald!

Thank you also to the editors of Digital Global Traveler : )

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This post was previously published on MEDIUM.COM.

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