The thought of going travelling can be daunting when we don’t have a large pot of money to fall back on. The benefits of travelling, however, in that it can help grow our independence and boost our self-esteem as well as taking us to some amazing places mean that we should never let lack of money hold us back. A bit of hard work and you could be well on your way to making your travelling dreams come true. Here are our 5 easy steps to saving enough money to take you wherever you want to go.
Set a budget
You need to sit down early on into your saving journey and figure out how much money you will need to make your dreams come true. This will give you a total that you need to work towards. Then you can start working out a budget for all of your spending, this should then give you a regular figure that you can save. There is plenty of advice out there laying out the steps to creating a budget if you need it.
Keep your travel money separate
You need to keep any money that you have saved towards your travels separate. This way, you won’t be tempted to dip into the money when something bad happens and you will also be able to watch your funds grow. Investing money that you have saved could be a good way to help it grow even quicker. Why not read our article on investment diversification to see if it could be for you?
Cancel or negotiate your monthly direct debits
Have a look through your regular direct debits to see if there are any that you could get rid of. Some regular payments such as mobile phone contracts or broadband packages can often be negotiated down if you get in touch with your provider. Often you have to threaten to cancel their service but they often offer to make the service cheaper to prevent you from going. You could also use Money Expert’s energy comparison tool to see if you can save money on your gas and electricity bill.
Sell your unwanted belongings
Selling items that you no longer use can give your savings account an instant boost. It’s a great way to get started on your savings journey because you will have some funds that you can put into your account immediately, it can give you the impetus to keep going. There is a lot of advice around online if you are not sure where to start with selling your old possessions.
Pick up extra shifts at work
It can be worth working just that little bit harder to grow your savings even quicker. We realise that it will make life harder but you will be grateful that you did it when you are setting off on your travels, trust us. Plus, the more you work, the less opportunity you will have to spend your hard earned money. See if you can pick up extra shifts at work or maybe even get yourself a second job so that you can grow those savings quicker.