SMALL WAYS TO SAVE BIG FOR YOUR NEXT TRIP

There isn’t a lot of travel spending happening during 2020, but there can definitely be some travel saving. Now is a great time to tuck away some cash for your next adventure. These money-saving tips can help make your travel goals a reality.

SEE HOW LONG YOU CAN GO WITHOUT…

Fill in the end of the sentence with anything you like—soda, eating out, new clothes. Try to go a day without it. Then a week. Then a month. There are so many small things we waste money on that we really don’t need to buy if we use a little resourcefulness.  

My experiment was with wrapping paper. I have not purchased wrapping paper in over twelve years. It started out of necessity when I was a college student who could barely afford to buy Christmas/birthday/wedding gifts let alone the wrapping paper. But, even since then, it has been a fun challenge each year to see if I can creatively wrap gifts with things I have available to me like newspaper, the brown paper that comes in Amazon packages, fabric scraps, or even pages from old atlases (bonus for a traveler!).

DESIGNATE A NO-SPEND DAY

Pick one day a week to be your no-spend day. Make a promise to yourself that you will not purchase anything on this day. The key to doing this is to be prepared. Pack a lunch to take to work instead of eating out. Fill up your gas tank the day before. Stay away from your online shopping apps.

There are so many ways to move through your day creatively without spending. Instead of going to a movie, borrow one for free from the library. Instead of eating out with your spouse or friend, enjoy a night of at-home cooking together. Instead of impulse shopping at the grocery store, order online the day before and stick to your list.

Be sure not to go on a shopping binge on the other days of the week!

ALWAYS USE COUPONS

There seems to be a flood of coupons coming to me daily, and, boy, do I use them. Many stores utilize digital coupons which you can “clip” into your account and save instantly. Many restaurants also offer punch cards (Buy 10, get a free meal!) or online promos. Always be on the lookout, and get on the e-mail list for your favorite businesses. If you can plan ahead or wait for a while, chances are you can save using a coupon. For example, my local hardware store offers a 25% off coupon nearly every month. I knew we would be painting our house this summer, so, for four months prior to our project, I bought one paint roller/paintbrush per month. By the time the project began, I had all the supplies and didn’t pay full price for any of them.  

PRACTICE EXPERIENCE EQUATING

This has been one of the most valuable practices for me to save money for travel. Experience equating is my term for equating the thing you want to buy now with the thing you want to buy for your trip. For instance, a meal at my favorite restaurant costs me about $14. When I want to eat out at this restaurant, I think to myself, “What will $14 buy me at my destination?” I can buy a simple lunch in Paris for $14. I can do a mountain luge run in Switzerland for $14. I can stay in an AirBnB in Ecuador for $14. Then I ask, “What do I want MORE? This dinner right now or the travel experience later?” The answer is always the travel experience.

UTILIZE AN ADVENTURE FUND CONTAINER

My first adventure fund container was a metal tin about the size of a soda can that I got at a thrift store for 50 cents. I stuck coins and small bills in that tin until I had enough to pay for whatever trip was coming up next. It helped to put a picture of the destination on the front of the tin to remind me of the goal.

You can use just about any container as your adventure fund, but make sure it has enough transparency that you can see your money piling up. Place your container in a prominent location where you will see it often. Seeing a visual representation of your goal is proven to help you stay focused.

AUTOMATE YOUR SAVINGS

Set up your checking account to transfer a designated amount of money to your savings account on a regular basis. You choose the frequency and the amount, but make it automatic. Maybe you can move 2% of your paycheck each payday. Maybe it’s $50 on the first of each month. Whatever it is, it will add up faster than you think, and you won’t miss the money you never see. Feed that fund!

MAKE THE MOST OF CREDIT CARD REWARD PROGRAMS

Credit cards are a travel hacker’s dream! If you do it right, you truly get free money. Who doesn’t love free money?

Credit card companies offer perks like cash back on travel purchases, points for flights, companion flights, free checked bags, free car rentals, and so much more. My husband and I have only paid for one or two nights in a hotel in the entire seven years of our marriage due to our awesome hotel credit card. We didn’t do anything other than use the card for all our regular life purchases. And, of course, pay off the balance each month.

The key with credit cards rewards is to research and find the cards that best fit your travel interests. Find out which cards are best for you in my post, How to Choose the Best Travel Rewards Credit Card.

GIVE YOURSELF DEADLINES

“Someday” is the biggest killer of travel dreams. If you don’t set deadlines for yourself, the years will pass you by and your trip will still be an abstract entity. Even deadlines for small things can help. For instance, say, “I will sell three unneeded items in my house by the end of the month,” or “I will save enough to pay off all of my trip’s hotel expenses 60 days before my departure.” The more specifically you state your saving goals, the more likely you are to do them.

SAVE WITHOUT SHAME

One of the most difficult parts of saving is confronting other people. The environment of spending is tough to battle. When your friends want to go out on the town in the evening, when your spouse wants to purchase a new car, when your co-worker wants to eat out together for lunch every day—the pressure to concede is intense.  Be candid. Tell them your goals and why you really want to save your dough. Most people will support you and even be inspired by you. The few that aren’t supportive don’t need your attention anyway. You don’t have to be a party pooper, and you don’t have to give up your social life or at-home experiences altogether. Find your threshold and don’t cross it.