5 Tips For Saving Money for Travel

 

Get a Piggy Bank

I own a piggy bank and not just any piggy bank. This pig counts my coins as I place them in and gives me a total of how much money I have inside. Not too long ago, my boyfriend informed me that he also has a similar one but unlike mine his just isn’t shaped like a pig. We decided that we’re going to hold a competition, our competition would be to see who could get to $100 dollars first in our piggy banks. Like I said before, each time we place a coin inside it tells us our grand total which makes it fun and makes you want to place more inside unlike a conventional piggy bank which has you guessing.

Get a Travel Credit Card

Get a travel credit card or even a credit card that will give you some perks. Travel credit cards give you free hotels, free flights and even free money. Other credit cards like the one I have give me free groceries once I reach a certain limit with my points. What I do is I ask my family and friends if I can use my points to pay for their groceries in exchange for the cash they would have paid and throw that right into my travel savings account.

Get a Side gig

Whether it be working at a retail store for 10 hours a week, that extra loot you’re racking in will get you at least $400 a month (depending on the wage). There are also gig’s like Uber, Lyft, Airbnb and Foodora just to name a few where you can use your car, bike, and home to make some extra cash on the side.

Make your own meals

Listen, I’m very much a foodie and living in a big city where there is a huge variety of different types of food makes it hard to want to go home and make a meal. But cooking may be an option you’ll want to consider if you’re trying to save money for travel. Let me give you an example: Bob goes to work 5 days a week, he buys lunch which on average will cost him $8 a day, at the end of the week Bob would have spent $40 a week, by the end of the month the total amount Bob spends $160. If Bob decided to save $160 a month, at the end of the year Bob would have $1920 in his savings account which could equate to a round trip to Thailand with money left over for whatever he chooses to spend it on.

Create a strict budget

List your income after tax, expenses and spending. You then need to create a savings goal so you can decide how much money you need to achieve your travel goals. From there you need to create a savings plan which means you’ve gotta pay yourself first. A simple way to create a savings plan is each time you get paid, ensure that a certain amount gets allocated to a separate savings account you don’t touch until it is time

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