How to save for travel this year

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When was the last time you went away on holiday? If you can’t remember, you’re not alone. Many of us feel stressed-out and overworked, and it can be easy to write off travel as ‘too expensive.’ But it’s completely possible to save for travel and have an amazing holiday without breaking the bank. Here’s how:

Understand Your Finances

If you’re saving for a particular goal, it’s key that you know exactly where your money is. That means that if you’re the type of person who’s scared to check your bank balance, you’re going to need to get real familiar with your logins.

Make a list of the debt you currently have and the money you have coming in each month. Write down exactly how much you should be paying back on debt like credit cards or car repayments for you to actually be paying down the balance (and not the interest). Next, account for all of your monthly bills like rent or mortgage, utilities, and your weekly grocery shop.

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Track your spending

For one week, write down absolutely every cent you spend. This can be illuminating in many ways, especially if you find yourself complaining that you never have any money. Once you’ve done this, take a good look at your spending habits and consider where you can cut back. Maybe you won’t really miss that daily Starbucks latte or you never watch Netflix anyway. Small things can make a big difference when you’re overseas.

Plan smart

If you’re planning a trip on a budget, there are a few ways you can make sure you don’t end up spending more than you need. Travel packages can be super budget-friendly, since they’ve been put together in order to offer a cheap deal. Cruises can also be a great option since they’re almost entirely all-inclusive and can also be paid off throughout the year.

It’s also a good idea to keep an eye out for cheap flights and look for destinations where your money will go further- like Southeast Asia.

Take a friend

Travel is cheaper when you’re with another person. Not only can you split hotel rooms, but you’ll often find that you split food as well. Even if you don’t have a significant other (or they don’t’ want to travel) you’re likely to be able to find a friend or family member who is also in desperate need of a holiday.

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