Five Ways We Save Money to Travel
Updated: May 12, 2023
Before we started traveling as much as we do now, I would come across photos and blog posts of travelers and ask, “how do they afford this?” What may work for one person may not work for another. I will share our FIVE money-saving techniques for travel. Start small to see what works for you!
1. Start a travel fund and contribute weekly. To consistently start planning and budgeting, I started adding $20 a week to my travel fund. Although I can do this with tangible cash, it is just as easy to do it electronically. We all have a banking app on our phones, right? Do you check your bank account on payday to ensure that direct deposit went through? So, when it clears, transfer that $20 into your new travel fund account that you made. If you start noticing this amount is doable, maybe add a little bit more. Be consistent with it. Remember that it will be worth it!
2. Don’t spend five-dollar bills. As mentioned in my previous post, this is our fun little technique. Why fives? Well, because one dollar isn’t enough, and ten dollars is too much (plus I get more five-dollar bills in my tip jar). Nowadays, we rarely get anything for under $5 anyway, so stash those away and save them for a rainy day. (in Iceland or Hawaii or anywhere else your heart desires!) Most of us rely on plastic and electronic payments in modern society, but there will always be times when you will take out cash for something. If five-dollar bills don’t seem realistic for you, try saving any change amount you receive when you use a cash payment. Did any of my fellow millennials have a “Disney jar” growing up as we did? Your parents saved one of those 5-gallon water jugs and when it filled up with loose change it meant, “we’re going to Disney World!” We have a fun jar labeled “Vacation!” for our five-dollar bills. Some larger and smaller bills sneak in there too. So maybe I have my parents to thank for this money-saving technique. Hmm...
3. Make cutbacks. How many subscriptions do you pay monthly? You don’t even realize how much those tiny amounts add up. Most people are jumping on the trend of canceling cable, which we did years ago. Limiting your TV subscriptions also eliminates binge-watching and frees up our time for productivity (which also improves mental health). Make a night out of hanging out with friends who have access to the TV shows you want to watch.
Another cutback I have made is with shopping. I have never been a big shopper, but we all have those moments. If it is not something I need, that brings me joy or can replace an item I already own, I do not buy it. My newest rule for clothing is that anytime I buy something new, I get rid of something and donate it. Apartment living forces us to be minimalistic, which is also freeing. Too many purchases increase clutter. You know all those random objects you buy for under $10 because they seem like a deal? You’ll end up throwing most of them out in a year. RESIST THE TEMPTATION! Overall, become mindful and intentional with your spending. I don’t cut out things I enjoy and pay attention to unnecessary purchases.
4. Be frugal when going out. We started tracking what we spent going out to eat and drink. Once we saw our monthly spending, we cut back and saved significantly. Start small by cutting back on those Starbucks or Dunkin’ runs. Make your own coffee and bring a second in an insulated thermos for that afternoon pick-me-up. Meal prepping has been beneficial to our money-saving habits too. Some nights when we are not inspired to cook because we watched too many episodes of Gordon Ramsay yelling in the kitchen, we will grab a rotisserie chicken from the grocery store and sauté some veggies. Quick, cheap, easy, and leftovers! (Our favorite) Pack your lunch to bring to work. If a friend wants to meet for dinner and you are tight on cash, but still want to go out, eat at home and order something light for dinner. Happy hour is also your new dinner date. For us, there is a balance between going out and saving money. Recently, going out feels like more of a treat than before.
5. Start a side hustle. Ours is dog-sitting. It keeps us active, our dog entertained, and dog cuddles > human cuddles. If this isn’t something you can do or are interested in, try something like getting a restaurant job. Additional perks are discounted meals, cash income (think about all those five-dollar bills you’ll save!), and you will meet some of the most fascinating people in your life. (Diaries of a Bartender, coming soon!) If you have creative skills, seek freelance work like writing, photography, or graphic design.
Remember that money you will always make back, the time you don’t.
