Written by Jay Sparrow
Dreaming of traveling more but not sure how to pay for it? Taking steps to cut back on some of life’s little luxuries and non-essential items can help. In this post we will share 23 tips on how to save money to travel. These tips are actionable items, and almost anyone can try them!
Saving for travel starts with a dream. Where do you want to go? How long do you want to go for, and what do you hope to achieve from your travel experience?
Once you have outlined your dream, you need to come up with a target for how much money your trip will cost. Don’t worry, your number does not need to be 100% accurate at this point, you just need to do some quick research to get a rough idea. Planning a big trip can take a long time. Don’t spend too much time on the planning right now. Get a number in mind, and start taking steps to save money so you can travel more! You can hone your budget later.
Here are four key budget items to consider when calculating your target number.
- Cost of transportation: flights, boats, trains, car rentals, etc.?
- Cost of accomodation: vacation rentals vs hotels, House Sitting for FREE accomodation?
- Spending money for entertainment and souvenirs. Take time to think about your bucket list items, excursions, and shopping!
- Spending money for food: eating out, groceries, coffee, and treats!
If you are planning long-term travel, also account for any expenses that you will still have back home, for example, mortgage payments, utility bills, property taxes, etc.
Related Post: How to plan Long Term Family Travel
Okay, now that you have a number in your head, let’s dive into the 23 actionable tips on how to save money for your dream trip!
1. Start a savings fund dedicated to your trip
Keep your travel savings separate from your day-to-day spending money. Set up a separate savings or money market account and give it a name!
When we decide we want to take a trip, we utilize a dedicated account just for our travel savings and name it. For example, our “12/18 account” was for saving enough money to travel to 12 countries over 18 months. Yours could be “Trip to Bali account”, “Family trip to Disney account”, “weekend adventures account”, “anniversary trip account” “get me out of here account”… you get the idea!
Giving our travel account a name really helped us focus on our goal to save money for our travel dreams. The account was more than just an account number; it had a real name, and it was part of the family!
2. Automate your savings
Now that you have a separate account for your savings, if your budget allows, set up an automatic transfer from your checking account to your new travel savings account. Just do as much as you can afford, but try to make it a weekly or bi-weekly occurrence. Set it and forget it. The money you decide to transfer is no longer your day-to-day spending money. It now has a goal, and it’s there to help you achieve your travel goals!
Bonus saving Tip: If you stop drinking 3 x $5 Starbucks coffees per week and instead set up an automatic $15 weekly transfer into your new travel account, you will save an extra $780 per year towards your travel goals. For those of you that grab a Starbucks every day, (like I used to!), that’s a savings of $1,820 per year!! You can apply this math to other spending habits in your life.
3. Sell the big stuff
One of the best ways to get a head start on your travel savings is to take a look at some of the larger (and more valuable) items in your life that you could consider selling.
Before you start, focus on why you are doing this. You want to save more money to travel. Now start thinking about all the larger, expensive items you own.
For example, if you are a two-car family, could you become a one-car family? Do your kids have any gaming consoles they don’t use anymore? Maybe you have some furniture that’s no longer your style? Or, how about that boat or RV you’re paying to keep in storage? (Sorry to bring up a touchy subject!)
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4. Sell your stuff online
Take advantage of free online sites and apps for selling personal items. Most are very easy to set up, and they provide an easy way to market your stuff to the public. We personally like to use Craigslist, OfferUp, and Facebook Marketplace and have had success with each.
5. Have a garage sale
If you’ve never held a garage sale, consider having one soon. You will be amazed how much stuff you have accumulated that you no longer need or use.
Set aside a couple of hours and literally go through every drawer, cupboard, closet, garage, shed, and other storage area you own. Pick up and touch EVERY item and ask yourself two questions: 1. Do I REALLY need this item in my life? 2. Does this item bring joy to my life? If the answer is no to both of these two questions, put the item in your garage sale pile.
Related Post: How to run a successful garage sale
6. Save your bonus, don't spend it!
The next time you get a bonus at work, simply deposit some or all of the money into your travel savings account. Stay focused on your travel goals.
7. Eat more meals at home
We all know that eating out can be expensive. With this in mind, cut back on the number of times each week that you eat out for breakfast, lunch or dinner.
Bonus saving Tip: If you truly enjoy eating out, consider eating out for lunch instead of dinner. Restaurant lunch menus are typically less expensive than dinner menus.
8. Skip the coffee shop and make your own!
Hopefully you took note of the saving tip under ‘Automate your savings’. This is a quick win for saving some money!
Buy yourself a nice travel mug and make your own coffee or tea in the morning. The next time you shop for coffee or tea at the grocery store, take note of the price per cup. Depending on your preferred coffee/tea, you can often get 25+ drinks for the price you would pay for 2 drinks at a fancy coffeehouse.
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9. Spend less on lunch (pack a lunch)
Consider packing a lunch to take to work. You might not think $8-$10 per day is much in the moment, but if add it up over a 5 day week, you can easily spend $40-$50 on eating out for lunch. Now consider saving this money for all the weeks you work in a year.
For this example, 48 weeks x $40 per week = $1,920 per year on lunches alone! That’s crazy!
Make this change to your lifestyle and you just paid for a flight or two or three!
Don't Forget Travel Insurance
10. Cut the cable
We live in a very progressive world of technology, and the days of cable television being your only entertainment option are over. There is no reason to pay $150+ per month for cable these days. With Netflix, Hulu, Amazon Prime and other streaming services, there are plenty of options out there.
11. Start a side hustle
One of the best ways to save more money for travel is to earn more money for travel! Start a side hustle or consider a second job. Below are just a few ideas to help you brainstorm.
Start your own blog
Admittedly this may take some time, but if you enjoy writing and sharing your ideas, why not make money doing it! You will need to find your niche, register your domain and website, build a website using platforms like WordPress, Wix, or Square and start writing content! Be sure to take a blogging course, it will save you so much time!
Become a freelancer
Got a skill that you can market to others? Editing, writing, photoshop, social media marketing, data entry, web design, etc. There are many websites that you can use to sell your services. We’ve hired freelancers on sites like Fivver, but there are others out there.
Teach a skill or tutor
Do you have a skill you could charge to teach? Music, sports, academics, etc.? Before we set off on our travels, I did individual soccer sessions as a side gig and charged $50 per hour. There are so many ways to make some extra money. Get creative!
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12. Reduce your cell phone bill
Make a quick trip to your cell phone provider to discuss your service options. Be very clear that you want to try and reduce your monthly phone bill. Cell phone service providers change their packages all the time, and sometimes if you don’t ask, you don’t get!
Bonus saving tip: Take a look at how much data per month you are ACTUALLY using. Do you really need unlimited data? There are providers that offer month-to-month payment plans with limited data for much less than the major carriers.
13. Lower your utility bills
It’s hard to negotiate your utility bills, probably more bother than it’s worth. Instead, just introduce some simple habits into your lifestyle to reduce your utility usage.
Examples: Turn the lights off when you leave a room. Turn off your AC when it’s cool outside and open the windows. Adjust your AC settings to reflect the temperatures you want when you are home and when you are out of the home. Shower more, bathe less. Limit the number of loads of washing you do each week, etc.
Think about your current lifestyle habits at home that affect your utility bills and consider changes.
14. Cancel your gym membership
Working out and staying healthy is important, and for many, there is real joy in going to a gym and spending time with like-minded people. But does it really need to cost you $150+ per month ($1,800 per year)? There are many gyms/YMCAs that offer monthly packages from ~$10 -$50 per month.
That said, there are many ways to stay healthy and in shape without heading to your local gym.
Enjoy running? Hit your local running trails and enjoy the outdoors. Love lifting weights? Head to an affordable store that sells fitness equipment, and pick up some affordable dumbbells to lift at home. Like biking? Buy an affordable bike and explore your city. Enjoy swimming? Find a local recreation center or school district that offers pay-to-swim sessions for $3-5 per swim. You get the gist!
15. Review your subscriptions
Make a list of all the subscriptions you have. Netflix, Spotify, Pandora, Amazon Prime, Apps, Magazines, other… then ask yourself the same two questions we asked when gathering items for your garage sale: 1. Do I REALLY need this item in my life? 2. Does this item bring joy to my life? Again, if the answer is no to both of these questions, cancel the subscription and add the money you save to your automatic transfer into your travel savings account.
16. Take advantage of your local library
Don’t overlook the free benefits that local libraries offer. There are literally thousands of books, (print and electronic), and movies that you can rent for FREE. Granted, they might not always have the latest movie releases; however, if you are an avid reader or movie lover, there is plenty of selection to keep you occupied.
Bonus saving tip. Make sure that when you do set off on your travels, keep your library card activated. Many libraries offer ebooks that you can check out and download to your computer or tablet. This saves money and weight in your luggage!
17. Shop at local resale shops for baby/kid items
Most cities offer some form of a resale shop. These are shops where you can buy used items like clothes, strollers, changing tables, cribs, etc. Needless to say, many of these items can be expensive when you buy them new and often will only be used for a short time.
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18. Shop around
Always shop around. There are very few items where the price is almost exactly the same no matter where you purchase, (okay, maybe Apple products?). If time permits, do your research and find the best deals.
19. Creative social nights
A night out with your friends can cost a LOT of money. After a good meal and a few alcoholic beverages, your weekly entertainment budget, (if you have one), is gone! Pick up some beer or wine from your local store and invite friends over for a take away.
20. Babysitting exchange
Start a babysitting exchange deal with another trusted friend who has kids.
How does it work? Simple: you babysit for your friend’s kids one night for free and in return, they do the same for you on another night. No money exchanged, just time and a little more energy. 😉
If you have family or trusted friends nearby, of course take advantage of any free babysitting offered!
Related Post: Lessons Learned Traveling with Kids: 4 Months
21. Seek out free activities
Every city has an abundance of free activities, you just need to seek them out. Parks, trails, free walking tours, kids story time at the library, wander the local markets, just to name a few!
22. Quit Smoking
Not only is smoking detrimental to your health, but the average cost of cigarettes in the USA is $5.51. Smoke four packs a week, and that’s $1,146 per year. A pack a day will cost you a whopping $2,005 per year on cigarettes.
For those of you that live in New York, your average price per pack is $12.85. That’s $4,677 per year! (Cough Cough…)
23. Stay focused on your travel goals. Make it a priority.
Make your travel dreams non-negotiable. Don’t be one of those people that say “one day” or “maybe when I have more money”. You obviously have a passion for travel otherwise you wouldn’t be reading this post all the way to the end!
The time is now, the time is today. Start taking the steps to save the money you need to realize YOUR travel dreams.
I hope you found this article valuable. Please share this post with friends that would love to save more money to fulfill their own travel dreams. Also, if you have any other money saving tips to add to this post or a future post, please leave a comment below.
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18 thoughts on “23 Tips on How to Save Money to Travel”
Number one has always been the most important for me. Setting aside money in a separate account is the easiest way to save!
Completely agree. It really helps to keep your savings separate from your day to day spending.
You’ve got some wonderful ideas to save money to travel! Love the suggestions especially “Quit Smoking”.
Thank you!
Inspirational piece thanks. Saving on utilities. There are companies in the U.K. that automatically find you a cheaper provider each year and change your provider for you.
Tip- only fill the kettle /coffee machine for the required number of cups needed.
Put heating/ac. on for an hour or two automatic boost first thing in the morning . You may not need it on for longer.
Thank you. That’s great that companies are doing that in the U.K. Thank you for the additional tips for our readers!
These are great ideas, every bit adds up and if you travel wisely it doesn’t have to cost a ton
Thank you. I agree. I am working on a ‘Tips to Save While Traveling’ post… It’s one thing to save for travel, but we also need to be creative in saving while we travel.
These tips are actually doable on a daily basis, well except you were a little harsh on the Starbucks thing:). Seriously, these are great tips, not just for saving for vacation, but being smart about your money every day.
Thank you! I used to have a Starbucks pretty much every day… and then I did the math. Now I maybe have one or two a month as a treat.
Automatically saving money in a separate account has been vital for me! Also, taking a hard look at my expenses, there’s always a way to save! Great ideas!
Thank you.
Great tips! I implemented almost all of them in my life. I still tend to spend my bonus. 😔 But just cutting back on coffee and restaurants is a big help. Everybody can start there and keep working with the other tips in your post.
Thank you. When you take the time to do some simple math on your daily expenses, you can quickly identify some areas to cut back. Coffee shops and restaurants are a great place to start!
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Savings Account is one of the essentials to save money for your travels. There are a lot of great tips here that I can probably inherit, I travel on my free time so this is basically helpful for me.
Wow, wow, wow, wow! Back off my boat 😉
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