People always say that they don’t have enough money to travel. Not everyone can afford to travel, but if you’re serious about it, it just requires some serious prioritising and some disciplined saving.
Is travel a priority for you?
Even before I was a blogger, travel was the top priority for me. I bought a cheap little car, ate out less and shopped even less, so that I could plough all my savings into my travel fund. After two years of work (and saving) at an entry level graduate job, I was able to save enough to travel (on a budget) for 6 months.
Honestly do you really need the latest sneakers (when you have 5 pairs in your cupboard already) or a brand new car every 3 years? Maybe go out for a meal less and start a pot-luck dinner club with your friends instead. Will you even remember how trendy your latest iPhone was 10 years from now or will you remember your dream holiday in Mozambique with your bestie?I like to prioritise memories, not things. When I’m 70, I doubt I’d care that I had the latest gadget back in the day, but I will look at those photos of me jumping on a beach in Mauritius and remember the good times.
Lose the debt
The first step to saving is to lose the debt. Putting your holiday on your credit card is never a good idea. There’s no point paying interest on your travels after the fact.
I never live beyond my means. The only credit I’ve had is a home loan and a credit card account that I manage and pay religiously. Of course a credit card is useful when you’re actually on holiday and you need to pay for small expenses – but don’t overdo it.
Draft a Holiday Budget
You need to budget for your travels. Take into account ALL expenses – flights, accommodation, travel insurance, food, tours and activities, visas, vaccines, souvenirs and entertainment costs. It all adds up.
After your pre-travel costs (flights, accommodation, insurance, visas, vaccines) set up your daily spend budget for the rest of your expenses and stick to it. Don’t forget to keep a contingency stash available for an emergency.
Stash your Savings!
A coin jar was fine when you were a 5-year old, but even as an adult you can save money in a jar until you have enough money to open up a proper savings account. This way, you can earn a bit of interest on your stash and you won’t be tempted to spend the extra cash that’s in your current account.
Check out Absa’s Click to Save campaign which makes saving super easy. Whether or not you are an Absa online customer, you can start saving for your dream holiday with just a few clicks.
Ready to make your travel dreams a reality? If you have any other great tips for saving for your travels let me know in the comments below.