Our top tips for saving for travel

  • How to save for travelling

When it comes to saving, patience is most definitely the key. If there was a quick and easy way to save money, we'd all be doing it.

The best ways to stick to your saving goals is simply reminding yourself why you're saving in the first place. If you ask me (and I am sure a lot of you guys reading this will agree), travel is most definitely the best thing to save money for. Of course, when you get older your saving priorities and your idea of what is important will change, but right here, right now, and according to our savers infographic, travel and holidays are important to most of us.

We got together with Monica from The Travel Hack and racked our brains to come up with some sure fire ways to help you save more for your travels.

Pay off your debts

Before you do anything, pay off your debts! That's right, no more digging out that credit card, it's time to pay that bad boy off. There really is no point putting aside some money at the end of month, if you have debts stacking up somewhere else. Once you've paid your dues you can go on the hunt for a high interest savings account (if such a thing exists) and slowly but surely you will start to save.

Have a spending detox

My top tip for anyone saving to go travelling is to have a 'spending detox'. This is where you don't spend a single penny for a set amount of time. Yes, that's right, not a penny!

You'll obviously need to pay your rent and bills, do a big food shop, fill your car up with petrol or buy a train pass but once these necessities are paid for don't buy anything.

Have a spending detox for about two weeks and you'll soon realise what you can live without, how to have fun for free and also where you're wasting money. Once your spending detox is over, little luxuries once again feel like indulgences so you're less likely to splash out and you're more conscious about what you spend your money on.

Go on a spending detox

 

Save with your friends

It's much easier to save money when all of your friends are in the same financial position. You might not be saving the same amount or for the same reason but you can still help and encourage each other.

Swap fancy meals with 'Come Dine With Me' evenings, big nights out with house parties, shopping sprees with clothes swaps and trips to the cinema with movie nights. You'll probably have more fun and save yourself a fortune.

WOWcher yourself

We're all guilty of spending too much on those fancy haircuts, trips to the spa, or treating yourself to a slap up meal in your favourite restaurant. But, just because you're saving doesn't mean you don't deserve a little treat every now again, so why not make the most of discount voucher sites, such as Groupon and Wowcher?

Cut down or cancel

I bet if you were to write a diary of everything that you spend on a weekly basis and after you have accounted for bills, food, and travel expenses there will be a whole list of things that you're paying for, but really you don't need to be. So give those Direct Debits a spring clean.

What about all those memberships you're paying for, the gym? Netflix? Are you making the most of all of them or are you just wasting money on thinking about going to that gym class or watching that TV series.

Surround yourself with reminders

It's time to get crafty and surround yourself with little reminders of the things you're saving for. Create a mood board covered in beautiful images of the places you'd like to travel to. Put photos around your desk and in your car. Set the background images on your phone and laptop to the place you're dreaming of visiting. Watch films and read books about the places you want to go.

Keep reminding yourself of your upcoming travels so every time you have a moment of weakness and want to start splashing your cash, you'll be reminded of what all your hard work and savings will be paying for.

Surround yourself with reminders

 

Save automatically

Now this might seem obvious to some, but there is one direct debit that is your friend and it's the one sending money straight into your savings account. So without even thinking about it you're saving, bit by bit and before you know it your hard-earned cash will start totting up. Get yourself a savings account without a card to withdraw money, that way it will make it inconvenient for you to get to your savings, which means you're less likely to be naughty and keep dipping into them.

Learn to cook

You gotta eat, that's for sure! But, when you're saving you need to start cutting back on all those takeaways and nights eating out. Invest in a cookbook and try your hand at learning to cook, not only will you be learning a new skill you will have fun too. Cooking food at home means you can make sure you have lots of yummy leftovers for work the next day and you can also make up a huge batch and freeze portions for another day.

Also if you learn to cook, any dishes you try and absolutely love on your travels you can try and recreate for your friends and family when you get home!

Currency card

When it comes to saving, it doesn't just stop once you've bought the plane ticket or booked the tour, you need to have enough spending money to make sure you have a great time while you're away. People who travel with us can get a great deal with Fair FX. With a Fair FX currency card you can be sure that you have one of the best exchange rates, so you don't lose out on your precious cash when you're spending abroad. This is a pre-paid card so you can top it up monthly or as much as you like before you go, a great way of making sure you save enough spending money for your trip.

So there you have it just a few tips that are definitely worth considering if you're trying to save for a trip or just trying to scrape a decent amount of spending money together.

Oh and more thing, just remember what they say...

Travel makes you richer

 

Check out our savers infographic

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