Tips to Save Money & Plan Your Future Travel

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Tips to Save Money & Plan Your Future Travel

Traveling is an essential part of everyone’s life. We all enjoy any travel vacation. When we think about planning a trip, one thing comes up in mind that how much to spend or how to spend? It could be depending on person to person, but this article is not about that. In this article, we will only tell you how to plan and save your money while planning a trip. It will vary person to person based on income, desired destinations, and expectations of luxury during the trip, but here are our top tips for saving for a journey & plan your future travel:

Plan Your Future Travel

  1. Pick and research your destinations

It will initially dictate the start point for your expected budget. How much will your daily living expenses cost on average? Search on Expedia and Hostelbookers for the accommodation that suits your luxury level in a few different locations then average out your per/night cost. Research food and sightseeing costs, as well as transportation.

  1. Make a travel spreadsheet 

Yawwwwwn spreadsheets, I know. But seriously, you can’t calculate and keep track of all your expenses for a 1o month holiday in your head.

Here is what I calculated on our travel spreadsheet:

  • Pre-trip expenses:
    • Vaccinations
    • Essential travel items
    • The average cost per day:
  • Accommodation
    • Food
    • Local Transport
    • Fun (drinking alcohol, going on day trips, entry to attractions, shopping)

The average cost per month:

Interstate/inter-continent travel (planes, trains)

One-off expenses which for us includes:

Skydiving in the Swiss Alps

Party boat cruise in Halong Bay, Vietnam

Halong Bay, Vietnam

Halong Bay, Vietnam

  1. How much is the bare minimum you can live off while saving? 

Put together a budget of expenses that you cannot avoid (e.g., Rent, bills, groceries, car expenses) then factor in a small amount for socializing. The rest you must now decide is savings! Set up an automatic transfer on your payday that will transfer this money into a separate savings account and you can make plan your future travel. Visit Delta Airlines Reservations to get a high discount on vacation packages with cheap flight fares.

  1. Stop revolving your life around eating, drinking, and shopping

Now, most of overindulging at the best of times and don’t need two nights out on the town per week drinking overpriced drinks at a bar that is playing music so terrible you need six more overpriced drinks to start dancing. Start becoming a master of cheap fun times, and you’ll be surprised how many of your friends want to join in on the saving (probably for more mortgage focused reasons buy hey!). Here are some ideas:

Walking/hiking/running with friends instead of brekky/lunch dates

  • Cook dinner for your friends (they bring the wine!) instead of going out for dinner.
  • Choose house parties over nightclubs – they are more fun after all.
  • Clothes swap dates instead of shopping dates
  • It is a must: Pack your lunch when going to work/university! Every day!
  1. Start thinking of daily expenses as nights of holiday accommodation 

For example, the best accommodation in Cambodia can be as little as $5AUD and one coffee in Australia as much as $5AUD. Every time you buy a coffee instead of making one at home, visualize your ten-month holiday getting shorter and being back behind your office desk sooner. URGH. Now put away that purse!

Set a date and a phone countdown

When time is ticking, it a good reminder that you best get your saving boots on! Also, it increases your excitement for your trip. Download a phone countdown app, load it with photos of your best travel memories, your favorite travel tune, and look at it each week. Time will fly.

  1. Cancel any expenses you don’t use

GYM MEMBERSHIP. If you have one, I doubt you need one! Go for a run outside or do some gardening. Figure out how much it costs you over 12 months and then figure out how many nights accommodation is on your trip. Then cancel it. Or transfer it to some who isn’t planning a fabulous holiday!

Downgrade your phone plan to the cheapest one possible.

Stop visiting beauticians and hairdressers so often! Go back to your natural hair color and DIY eyebrows.

  1. Rent sucks away your savings!

If you live in a super desirable suburb, consider venturing to the outer suburbs or moving into a share house with more people. You may end up saving $50 per week, which is $2,600 in 1 year or what I like to refer to as 520 nights accommodation in Cambodia!

OR if you are as young and shameless as we are, you may consider moving back with the parents for a few months before departure!)

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