Saving for your travels? Try some of these saving tips to boost your savings
May 24, 2019
Congratulations on finally taking the plunge and heading off travelling! There’s so much to look forward to and to plan; the destinations, how you’re going to get there, are you going alone or with friends? Where will you be staying? What will you pack? Are you going to work out there? How will you finance it all?
Ah. That’s the question that usually brings prospective travellers down to earth with a bump. The idea of saving up enough money to go across the globe travelling is a little daunting…you need to figure out how much you’re going to need, how much you already have to put towards your fund and how you’re going to add to it. Daunting as it might seem, you don’t need to cash in all your investments at once – click here for the latest information on investment pieces – to fund your dreams. Here I’ve gathered a few helpful tips that can help add to your travel fund.
Stop the coffee habit
We all love a hot cup of coffee in the morning, or even one to accompany a nice lunch. But that coffee habit we all seem to have is actually costing us a lot of money and it’s money that could be used to save towards your travels. So, instead of dropping by your favourite coffee shop every morning for a fancy coffee with 30 different elements to it – either drop your visits to once a week or brew simple coffee at home and take it to work with you in a travel mug. You’ll be amazed at how much you can save within a short space of time.
Opt to eat in
Eating out will put more holes in your savings than a woodpecker. So, instead of heading out for dinner every weekend or even a couple of nights a week, opt for meals in instead. If you’re not a dab hand in the kitchen don’t worry – just stick to super simple recipes and enjoy the gratification you’ll get from eating a meal you made yourself.
Reduce or remove your car use
Depending on your circumstances and your location, you’ll know whether or not this is a viable tip. But if you can reduce how often you use your car, you’ll need to top it up with fuel less often and if you can get rid of it altogether and use public transport instead, then you can save all the money from fuel, insurance, repairs, MOTs and valeting and put it towards your travel fund instead.
Reduce your utility bills
With summer approaching, you probably won’t have the heating on. But on those cool summer nights, wear an extra jumper instead. And before you reach for the air con – open a window! It’s also worth seeing if you can switch to a cheaper utility tariff and reduce your bills that way.
Cancel your gym membership
Whether you use it or not, it’s an expense you can live without. Opt for exercising outdoors or even at home instead of paying to use flashy equipment.