How to Save Money for Your Travels?

Written by Freedom Strider

On February 11, 2019
How to Save Money for Your Travels?

How to Save Money for Your Travels?

by Feb 11, 2019

Saving money is not usually a person’s idea of a fun task but it is all forgotten once you’re out there spending your hard earned pennies.
so how do you save money for your travels?

Everyone has different approaches to saving. Some don’t spend a single penny and work through sleep deprivation to save as much as possible, whilst others struggle to budget and feel as though they are getting nowhere.

Saving money for your travels is going to take some work…

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Saving is about practicality and compromise. The key is finding the balance between working and enjoying yourself whilst still getting enough saved every month to make you feel like you are making progress. Budgeting will be your new best friend, and this is the guide to help you.

Let’s get started!

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​Budgeting 101

The basics of budgeting are as follows:

You have money coming in in the form of a salary. You have money that you need to pay out – bills, rent, food, transport. Then you have money which is used for other things that aren’t absolute, like entertainment, cinema, football games etc…

Hopefully, money coming in is greater than the total money leaving your bank account. If not, or if the numbers are close (ie you’re not saving a lot), then it is time to have a look at what you can do about it. This is where the balancing comes into effect, this is best shown through an example.

Example: time signature – 1:16

Do not make yourself miserable if it means saving an extra £50 a month, enjoy your time whilst saving! Travel is exciting and you should look forward to it but do not just work and survive until your travel date comes.

Go out, enjoy yourself and you’ll feel a lot better, even if it means having to save for an extra month or two.!

Using the numbers from the video example:

Personally, I would put aside £50 – £70 each month to enjoy yourself and go out. Of course, some months you may spend more or spend less, but let’s say £60 as an average per month you put aside to spend on entertainment.

This leaves £287 a month. This is the money you can save for your travels. Of course, everyone’s situation is different and sometimes money will be needed for other things. A trip that would cost £1000 will take 3-4 months to save up for, and you can work from this basis.

QUICK TIP: Put the £60/month onto a Debit card. If you use a Credit Card, it is much easier to go over the £60 limit. Always have a credit card handy for emergencies but if you’re tight on money, this is all it should be for.

How else can I earn money?

So, if you can’t cut down on your expenses, then the other option is to increase the money coming in. Salary from a job is the obvious source of income, but there are other places where you can get some money coming in…

IS ALTERNATE LIVING FOR ME?

Download your FREE eBook

Here is the complete overview of What alternative living is, Why it’s a good idea and How you can get the ball rolling.

Get a Second Job

Obvious, but if possible, try and see if any of these are viable to do. Even a £0.50/hr increase means an extra £10/week, but don’t burn yourself out with work though! 40-48 hours/week is probably the limit. Look into evening jobs, maybe you can cut hair or teach another language twice a week?

Start a change jar

Coins always get lost, down the sofa, on the floor, in the washing machine. Simply get a jar and put all your loose change in at the end of every day, and over time it builds up. After a few months, you could have £50 or more build up, it almost seems like free money! … it isn’t, but just pretend it is.

Sell you clutter

Sort your whole room out. Go through everything and decide whether you actually need it. If not, put it on eBay/Gumtree/Trademe/Craigslist and get some coins for it, it’ll add up quickly. Also, try selling your CD’s/DVD’s/Clothes and the like. You’ll clean your room out, and earn something from it.

Sell more COSTLY clutter

An old TV set or laptop, maybe even a sofa that isn’t useful or perhaps your car (if you have one). Do you need it that much to justify having it? If not, maybe it’s time to sell it. Selling things that also have their own expenses (i.e. cars need taxing, fuel, repairing which is more money out of your pocket), then this can be doubly rewarding.

If you are saving money for your travel, this might be a worthy investment.

Turn things OFF

Instead of just putting your PC on hibernate, or flicking your TV box onto standby, go to the wall and switch it off completely once you’ve finished using it. Do this for all electronic appliances you use. Track your power usage,  you will see just how little power your house uses when everything is switched off. Less power used = less money paid.

Cut your gym PAYMENT

exercise at home or outside

Paying £10 a week to go and use some fancy equipment is not worth it. Clear a bit of space at home, and do a workout in your house. If you want to go for a run, run outside round your neighborhood. If your home is too small or not convenient, go to your local park, or the beach, anywhere with space.

Save money, think outside the box.

News-letters

Sign up to email newsletter from your favourite companies (use a different email address from your main email though). Pick up flyers and leaflets when you’re out, these will all have savings on. If you’re looking to buy something in particular, you can use these to your advantage, but only buy what you need. Don’t fall into their trap of buying more than what you set out to, this will do the opposite of saving you money.

Use coupons to shop

Those things on the back of receipts, or in the mail or those emails are not just to be thrown away or deleted. Go through them and see if you would normally buy anything. Supermarkets often track everything you buy and send you vouchers and such based upon what you normally get. They will also send you vouchers for other things (making you spend more) but if you only stick to what you need.

Write a list

When you go out shopping, write a list of the food you need. And stick to it once at the shops. It can be so easy to drift off and buy things that are expensive that you don’t really need to buy. If you do pick up something, question yourself whether you actually need to buy it?

Self-Cater

​Eating out is expensive, so always try and cook meals at home and also make them last. Everyone can cook something, whether it be pasta, rice, even just jacket potatoes or soup. Cook a big pot of something and make it last a few days, so that you don’t have to cook every day and also, you have something to take to work to stop you buying overpriced sandwiches.

Move House

Now this one might seem a little more drastic than the others but bare with me.

If you are seriously struggling to live paycheck to paycheck, then maybe it might be time to find somewhere cheaper to live. Look at cheaper apartments or see if you can renegotiate your mortgage. Perhaps consider Alternative Living? (hint hint)

Maybe even ask your friends and family if you could move in with them for a little while whilst you sort yourself out and get back on your feet. Rent/mortgages are the most expensive thing and often is where a lot of your earnings go, so make it cheaper.

And, of course, alternative housing solutions are the hidden gem here; converting a vehicle like and van or bus can quickly do the saving trick.

Alternate Living Solutions

Adding onto the above, alternate living solutions such as converting a van, building a tiny house instead of paying a mortgage on a big house/apartment can be great long term investments but also an excellent short term solution to save money and get you out of debt. To find out more about it, check out ‘Converting Your Car into a Camper‘ and ‘What is the tiny house concept?

Don’t Forget

Download your FREE eBook

Here is the complete overview of What alternative living is, Why it’s a good idea and How you can get the ball rolling.

Got ANY SAVING TRICKS UP YOUR SLEEVE?

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There are plenty of other ways to save up and earn some extra money, and everyone’s situation is different. However, following these simple steps might surprise you how much you can put away.

We’ve had to go on very tight budgets before, and it is sometimes hard and you feel as though you’re never going to get anywhere. If you put your mind to it and play it smart, then you will see the results.

​If you wanted any other help on this, then feel free to contact us. We’ve had to do some serious saving ourselves, and we can give you some advice on what you can do in your personal situation.

Vanlife Security 101

Vanlife Security 101

Vanlife security is a BIG thing when it comes to converting your own DIY campervan – we all know those stories of vans being broken in to. So we run through some of the essential security features you should have in your van conversion, and how to protect your valuables and van from being broken into.

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