**Updated November 2021
I haven’t met one person who doesn’t love to travel, or at least would want to go on vacation a few times a year.
However, many of us have to save money for travel because things can get expensive.
From the flights to lodging to transportation, it can sometimes put a dent in your wallet.
Fret not, my friends, because I have seven sure-fire tips that you can start doing TODAY to save up for your next adventure!
Dust off that old suitcase, buy some sunscreen and prepare for your next excursion!
***Some of the links in this post are affiliate links. This means if you click on the link and purchase the product or service, I will receive a small commission at no extra cost to you. All opinions remain my own. Click here to learn more.
1. Additional Income
This one may come as a no-brainer to some, but adding another income source to your overall income will help you tremendously with saving money for travel.
If you have a few free hours on the weekend or a little time after work to add on a side hustle/part-time job, you’ll get to your savings goal quicker.
If possible, I’d recommend finding a remote job so you can earn money from the comfort of your own home.
As a result, you’ll also save money in gas because you’re not driving to your next job location.
I know a second job does not look too enticing, especially if you’re already working full time and are tired after the long workday, but remember that it’s only temporary.
However, if you’re looking for steady work, I’d recommend Indeed. That’s the website I use for 99.9% of my job searches.
If you know you’re only looking to make additional income for maybe 3-6 months, consider going through temp agencies or freelancing.
If you have a profitable skill, such as coding or web design, you could advertise your expertise on Fiverr or Upwork.
While it may take a few weeks to get traction from those sites, you’re using the skills that you already have, and won’t have to go through an onboarding/training phase like you would with a regular job.
2. Open a Chime Account
Raise your hand if you’re always swiping your debit card for something (No shame, my hand is raised, too).
We usually don’t realize how much we use our debit cards every week.
Need gas? Swipe.
Want a quick coffee before work? Swipe.
Lulu’s is having a one-day-only sale on cute tops? Swipe (Welcome to my life).
Once I realized how much I was spending each week, I knew some changes needed to be made.
If you want to save money for travel, you either need to swipe less OR be more strategic with your swipes.
I remember that years ago, a friend and I opened a free account with one of those online banks where you connect your debit card, and each time you use your card for a purchase, it would round up to the nearest dollar and place that money in a savings account.
Although I had failed MISERABLY with that approach years ago, I decided to give it a try again.
I was a lot more disciplined, and I had a real savings goal in mind this time (travel).
I’m currently using Chime to help meet my travel savings goal.
With Chime, I transfer money from my bank to my Chime card, which is linked to a separate checking account through the company.
Each time I swipe my Chime card, I have it set to where it rounds up my purchase to the next dollar, and that amount gets put into my Chime savings account.
Other ways you can save with Chime:
– Transfer money from your Chime spending account to your Chime savings account
– If you have direct deposit set up with Chime, you can send a percentage of your earnings to your savings account if you have at least $500 deposited each payday.
So, how does it work?
1. Register for a Chime account
2. Enter your personal info, then connect your bank.
3. To start using the temporary online card they give you, just transfer money to it from your external bank. You can use it for online purchases and even set it up via Apple Pay, which I love.
*They’ll send you the real card in the mail, so be sure to set it up in your digital wallet again*
4. Set your spending “rules.”
*Add the round-up debit feature or automatic money transfer to savings each time you get paid*
5. Watch your money grow.
*There are no monthly fees or minimum balance to open your Chime savings account*
*You can earn .50% APY with your savings account (all you need in your account is a penny start earning interest)*
All this means is Chime will pay you just for saving! How amazing is that!?
USE MY CODE to get $75 when you Join Chime and set up your direct deposit!
If you get at least $200 deposited within your first 45 days, that’s free money you can use for your travel fund!
If that’s not enough to convince you that you NEED a Chime account, I don’t know what will!
3. Stash Your Bills
This is such an easy and fun way to save money for travel!
I know that many people don’t carry cash on them in this day and age, but we have a few bills in our wallets every now and then.
So, here’s what I need you to do.
First, look around your house/apartment and find either a shoebox, one of those big ol’ mason jars (we’re millennials, you know we keep a good mason jar), or even a large manilla envelope.
Then, once you have one of those things in your possession, make a habit of putting any bills that you come across into it.
You’ll be surprised at how quickly your bill stash could grow, and by the time your trip comes around, you can use that money to pay for something!
This method will work EXTREMELY well if you’re more of a visual or physical touch type of person because it’ll feel more “real” to you.
You can actually SEE and FEEL your money growing.
4. Where’s Your Money Going?
This is an essential tip to saving money for your next vacation.
You absolutely, without a doubt, HAVE TO KNOW WHERE YOUR MONEY IS GOING.
For instance, if you get paid on the first of the month and by the time the 30th rolls around and you’re not sure where your money went, you will have a lot of trouble growing your travel fund.
I can’t stress enough how important having a budget is.
Ideally, you want to know:
– How much your monthly expenses are (rent, utilities, insurance, car payments, etc.)
– The amount you’re spending on food (that quickly adds up if you don’t cook much – I’m guilty)
– How much you’re spending on personal pleasures (subscriptions, outings, shopping)
If you have a budget in place, you’ll be able to see where you can cut back on your spending.
For example, if you have a Hulu AND Netflix account, determine which one you spend more time on and then cancel the other subscription.
Next, put that extra money into your travel fund each month instead.
Again, it may not seem like a lot now, but it adds up quickly!
If you eat out four times a week, try and cut back to twice a week.
Cook some meals at home, and then put that extra money from the other two days towards your travel fund.
There are many ways you can get creative with your budget just by tweaking some things and making a couple of sacrifices.
By the time your trip approaches, you’ll more than likely keep doing these things because they’ve become a habit now, and you can keep putting that money into your next savings goal.
5. Sell Your Stuff
How many of us have things that we bought ages ago but no longer use, want, or need?
If you want to save money for travel, consider selling some of your stuff.
If you’re holding onto a guitar that you bought four years ago and have only practiced five times since you got it, it’s time to let it go and get some of your money back for that purchase.
Take inventory of all the things you have (big and small, old and new), then determine the items’ condition and the last time you used them.
Once you decide what you no longer want and what you think you could sell, post them on websites like eBay, Facebook Marketplace, and Craigslist.
*Be really careful with sites like the ones mentioned above, especially if you’re meeting with a buyer to make the sale.*
Tips for meeting with a buyer:
– Never meet in a sketchy area. Instead, meet in well-lit, public places
– Always take someone with you when you’re making these sales
– Let your family and friends know where you are
– Always bring two receipts with you for the buyer to sign (one for your records and one for theirs)
– Bring pepper spray or another small self-defense weapon; just in case (better safe than sorry)
*You can also hold a yard sale to cut out the hassle of driving to meet with a buyer.*
It feels good to de-clutter and make money in the process.
Things you could sell:
– Furniture
– Kitchen appliances
– Unused musical instruments
– Old video games/consoles
– Clothes/gently worn shoes
– School textbooks
– Electronics (cameras, phones, TVs)
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6. Look Out for Flight Deals
If you’re trying to save up for your next trip, try checking out websites that compare HUNDREDS of flights each day.
This is a great way to see which ones have the best deals.
The sites I use to check prices are Hopper, Skyscanner, and Momondo.
I’ll get alerts sent to my phone whenever prices increase or decrease.
While I’ve never directly booked through one of the sites, if I go to the carrier’s website, the price is still the same.
Some of these sites may automatically link you to the carrier’s website now.
Google Flights is another good website to use for finding flight deals.
7. Cut Out Bad & Expensive Habits
Now, I’m not trying to tell you how to live your life…
But if you have bad (and usually expensive) habits, you should consider cutting them out if you’re trying to save money for travel.
For example, if you’re a smoker who smokes a pack a day, considering each pack is around $6, you’re spending well over $2000 each year.
That’s A LOT of money to be going somewhere that is taking years off of your life.
Maybe you have other habits that are costing you.
Like gambling, excessive alcohol drinking, or buying coffee every morning before work when you have a coffee maker at home.
All of these things quickly add up.
Take a look into your life and see if there are any bad habits that you can quit to reach your travel fund goal sooner.
Keep in mind that the not-so-great habits will most likely be hard to break, so don’t be too hard on yourself if it takes a little time for you to inch it out of your life.
I can’t wait for you to start implementing these tips so you can have the time of your life on your next vacay! Where do you plan on going next?
CLICK HERE before you plan your next international trip!
Peace, love, and good vibrations.
