June 20, 2023 | Eul Basa

Money Saving Tips To Help You Travel The World

The hardest part of any trip is saving enough money to actually go. After all, you have to save for the plane ticket, accommodation, your insurance, a backpack or suitcase, visas, and then, of course, you have to have money to spend once you get there, too. It's a lot, and the daunting thought often makes many people think that travel is expensive and there's no way they can save for it. But that's not true!

The truth is that everyone, regardless of their income, can save. Even if you save a dollar every day for two years, you'll have $730. Sure, it's not a lot, but it's enough to get you out of the house. The real problem arises when people want to travel right now. They need to save a lot of money in little time. So, how do they do it? As someone who has spent the last six years periodically saving and then travelling Asia, Oceania, North America, and Europe, I'm equipped to tell you. Here are five money-saving tips to help you travel the world:

person standing with holding luggage bagUnsplash/hamsterman

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1. Make a plan

First things first: Figure out how much money you need to save for your dream trip. Are you planning on climbing Mount Everest? You can be sure that's going to cost a lot more than spending three months backpacking around Southeast Asia. What you want to do will depend on how much you need to save. Once you've figured that out, make a budget plan and stick to it. Determine how much of your paycheck you need to put away in order to get to your goal.

three people overlooking mountainsUnsplash/@eddybllrd

3. Change your food habits

Do you tend to eat out often? Do you buy lunch at work every day? Do you shop at expensive grocery stores? If the answer is yes, change your food habits. But don't go cold turkey. If you do, you're likely to binge and blow all of your hard work on a few extra-large pizzas and a big night out. Start small and go from there. Try eating out once a week instead of three, buy your lunch only when necessary, and purchase your most expensive grocery items at a bargain grocery store to save on your weekly shop.

person looking at white buildingUnsplash/@ploywanasiri

5. Sell what you don't need

Sell, sell, sell! Sell the couch, sell your bed, sell your pots and pans, sell your doormat—sell everything that doesn't fit in your backpack or suitcase. Of course, if you're planning on a shorter trip, this step isn't necessary. But for those looking to escape the 9-5 lifestyle for life (or at least a few months) on the road, selling what you don't need is key to putting a huge dent in your travel saves.

woman wearing backpack walking on roadUnsplash/@airguitarbandit

Dear reader,

It’s true what they say: money makes the world go round. In order to succeed in this life, you need to have a good grasp of key financial concepts. That’s where Moneymade comes in. Our mission is to provide you with the best financial advice and information to help you navigate this ever-changing world. Sometimes, generating wealth just requires common sense. Don’t max out your credit card if you can’t afford the interest payments. Don’t overspend on Christmas shopping. When ordering gifts on Amazon, make sure you factor in taxes and shipping costs. If you need a new car, consider a model that’s easy to repair instead of an expensive BMW or Mercedes. Sometimes you dream vacation to Hawaii or the Bahamas just isn’t in the budget, but there may be more affordable all-inclusive hotels if you know where to look.

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