“Travel is the only thing you buy that makes you richer,” the saying goes. By that logic, travel is an investment, sought after for many different reasons. It introduces us to new people, places and ideas. Travel broadens our horizons, but it always comes at a cost.
Saving up for your next adventure can be tough when you’re dealing with daily expenses, and even more difficult when you have student loans or other debt. The less than perfect economy is another damper on plans to voyage the world, but in spite of all this, people still save up enough and take their trips.
Small daily changes make all the difference, but without a plan those changes will only get you so far.
The first part of the plan is opening another savings account, hopefully you already have a primary savings account, but the additional account is important to your saving goals. Give the new account a name related to your upcoming adventure, set an amount to be automatically transferred into this account depending on when you get each paycheck and watch as your savings pile up. The new account symbolizes a fresh start, it’s a source of motivation and it will be a way to objectively track how prepared you are for your upcoming trip.
In order to know how much you can afford to transfer into the new account, you should write out an honest and detailed budget. This part isn’t fun, but your trip will be, remember that. After you’ve figured out exactly where your money is going, read our list of easy ways to save for your trip and cut any excess you can from your current expenses.
Saving up to afford travel is anything but glamorous, but when you’re enjoying your time away, you’ll be glad you made the effort.