Who wouldn’t love to save extra money for travel? Vacations are often on people’s minds but coming up with the money is the hardest part. Wouldn’t it be nice if the hardest part was choosing where to go? It doesn’t have to be a daydream. Let’s look at how to save extra money for travel.
Sock Away Bonuses and Refunds
Bonuses at work and tax refunds are wonderful for vacations. Instead of spending the money on something frivolous, why not put it in the bank to start saving for a vacation? Bonuses and tax refunds can be a large chunk of change that can go a long way towards travel costs.
Use the Envelope System
Want to encourage yourself to work harder to save money? Use the envelope system and save anything that’s leftover at the end of the month towards your vacation. You’ll be amazed at how careful you are with your money when a vacation is on the line.
Try a No-Spend Week
It’s amazing how much the average family spends in one week. Instead of spending, why not try a no-spend week? During that week, you cannot buy anything that isn’t absolutely necessary. This means that you’ll rely on the food in your pantry, entertain yourself with things you already own, and stop getting that morning coffee. At the end of the week, take the money you didn’t spend and put it toward your travel fund.
Do It for Free
What if you could do more things for less? What would you do with the extra money? Not only could you fund your travel, but you could have a healthy retirement fund, pay off debt, and more. Think about what you do during your day and think of ways you could do it for free. For example, do you watch TV? Why not cut the cord and watch free options like YouTube? Do you love to read? Consider downloading free books from Amazon – there are literally thousands to choose from. Instead of driving to work, walk or bike (or carpool with a friend).
It doesn’t take a magic wand to save extra money for travel. All you need to do is rethink your spending habits. Instead of spending money, look for ways to do things for free. Save those bonuses and refunds for something you really want – a vacation. You don’t have to take a second job, if you don’t want to. You can travel without making huge sacrifices.