Save Now, Fly Later: Building a Travel Fund

savings for travel

Everybody knows that traveling is a luxury. Still, people are willing to pay for it — and for a good reason. Traveling opens their eyes to new sights, tastes, faces, and cultures. It helps them broaden their horizons, and it allows them to create memories they can cherish forever.

If you are a budding traveler, you know too well that creating a budget can be such a strain. It’s stressful, especially if you have other important matters in life to attend to. Nevertheless, saving up for your dream holiday is always possible. You need to know your priorities, and you may need to be strategic when making and handling money.

Here are some of the pointers you may want to keep in mind:

Start dropping money in your piggy bank

The best thing you can do is start now, and what better way to do that than to start dropping extra money into your piggy bank. When you’re allocating budget for your food, utilities, investments, and auxiliaries, such as condo assessment insurance, there will always be a spare amount left. That specific amount, whether it’s a one-dollar or ten-dollar bill, should go directly to your piggy bank. If you want to be more dedicated, set up another bank account, and automate your savings.

Give up other luxuries

Sometimes, it’s always a question of this or that. You need to set your priorities straight, so you will be able to avoid unnecessary expenditures. This means giving up certain luxuries, such as your monthly splurges at malls or fancy dinners with friends every Friday night. If you want to go backpacking across Japan next year, you may think twice about purchasing that large overpriced latte. You may also give up any local travel within the quarter and use the savings to fund a much bigger and grander trip.

person using laptop

Get another stream of income

When your monthly income is just enough for you, your daily expenses, utility, and savings, you may want to get another stream of income. This is ideal, especially if you have a lot of free time on your hand. You can make use of your skills to make money. For one, if you write well, you can work as a freelance writer online. You can also be a dog-sitter if you want a relatively stress-free job. If you love baking, you can sell cookies and cupcakes to your friends and officemates.

Sell stuff

To add more money to your travel fund, you may rummage through your belongings and set aside those that can be sold online and offline. Hold a garage sale to sell your old items, such as books, shoes, clothes, and even pieces of furniture.

Fly high!

To achieve your travel goals, you need to have savings goals first. Traveling is a luxury, but if you are willing to pay for it, you must also be willing to find ways to make extra money and build your travel fund. Just stick to your plan, and you’ll get there in no time.

About Faye Gonzales 1659 Articles
Meet our chief explorer, Faye Gonzales. With over a decade of travel experience, Faye is not only a passionate globetrotter but also a loving mom who understands the unique needs of family travelers. Her insights into family-friendly destinations and travel tips make her a trusted guide for parents seeking memorable adventures with their children.