///15 Ways to Grow your Travel Fund

15 Ways to Grow your Travel Fund

By | 2017-08-10T11:46:34+00:00 June 26th, 2016|Travel Funding, Travel resources|

Even before you hit the road money it’s important. In order to go on the adventure, you have to grow your travel fund. Most of the time you don’t need a big saving for your trip, but think smart, be wise, make a plan so you don’t run out of money quick.

Here is a simple exercise that can minimise costs and grow your travel fund. Write down your expenses like rent, insurance, electricity, water, gas bill, cell phone, car payment, gym, cigarettes…  then write the sum spending on every item. Add that all up and see the final result! Probably much money, many of them you didn’t realise you waste.

Most of the time, we spend money on things that we don’t need. Even the daily basis can be a problem at the end of the month. The main reason why people think they can’t travel is precisely money. Everyone have expenses, some of them we can’t cut. But if you reduce a big part or even cut I can ashore at the end you will have some sum of money for travelling.

Below is some advice to cut expenses, grow your travel fund and go travel soon:

grow your travel fund

Cut the coffee

For most of the people, coffee is a daily expense. This means wasting money every day in something that most of the time can be taken at home. If you start to calculate how much money spending on coffee, you’ll see that is more than you thought.

Eat out less

Eating at restaurants can be quite expensive these days. If you want to put some money aside and grow your travel fund you have to cook more often, dinner at home. I think nowadays there is no excuse for not to cook, you have a lot of TV shows that teach this or simply google the recipe you wish you’ll find an immensity of websites, even with videos. Another trick to save money on food is to keep the leftovers from dinner to lunch the next day.

Gave up on the gym membership

Instead of those passing hours at the gym, exercise in the great outdoors, run in the fresh air. Swallow your pride and utilise those public fitness logs in the park. It’s no shame to do exercise outdoor, you will see lots of people doing the same. It’s better for your health them staying at a gym counting hours.

Reduce or eliminate your car usage

Can you imagine how much you invest a year with your car? I can tell you this could be very expensive. First, you have to do insurance, them the money for loan payments, repairs, and tank filling with gas. If you are living in the city normally there are good public transportation, so take the bus, subway, train, go on a bike or walk. Of course, if you’re living in a small town or village, like me, you don’t have an extensive public transportation system. An alternative to this is to sell your car and buy a cheaper used one, which you will need only until you leave for your trip. I already have done it and is resulting well.

Quit smoking

If you are a smoker stop this bad habit. Not only you gonna save money but also it’s gonna save your life. I understand that for most of the people this couldn’t be easy but, you have to remember your goals. It’s absolutely necessary if you want to grow your travel fund and go travel.

Stop drinking

Everyone knows that alcohol can be quite expensive. If you want an easy way to save money, cutting down the amount you drink is the right way. Normally people have the tendency to drink more when going out. So, try to stay more often at home and when you’re out with friend don’t drink, offer yourself to drive the car so this way you can’t drink at all. Cutting down alcohol will have a big impact on your savings.

Do free things

Remember that you are on a mission, to grow your travel fund. So, go to places on days they are not charging admission, and look for other free things to do for entertainment. I’m sure you’ll find lots of free events and you can enjoy every one of them. Going outside to the park it’s costless and healthy, go for a walk on the beach, go hiking or trekking, it’s free and will be fun.

Stay in at night

Going out to bars and clubs will force your account balance to go down faster than you think. Next morning you’ll have nothing but an empty wallet without even notice. Keep your travel goals in mind and invite your friends over for a game night or watching some movies.

Buy second hand

In a world of technology, you are one step forward when it comes to buying new things. If you wanna put money aside you only have to be smart and use websites like Ebay, Amazon, wholesale websites, clearance sales, etc. Acquiring new clothes can be expensive too but, there are equally lots of online stores. Try vintage/second-hand clothing shops, they are great and always have discounts.

Replace light bulbs

Nowadays electricity can cost much more money than you think. Since your budget it’s important, cutting down on your utility bills will help to have extra money for travel. Replace your old light bulbs for new and economic ones, if you do this at the end of the month your bill will be reduced. Check energy companies offers, invest in a good offer that can save you money.

Sell your stuff

I think this is one of the first steps if you wanna make some money for travel. Go through your stuff, closet, garage and boxes to find items you are no longer using, get rid of everything. Sell it all, you can use the money to grow your travel fund. There are lots of places where you can sell them, online on Amazon or Ebay. Selling your unwanted things can boost your savings dramatically, after all, you don’t need them while travelling.

Skip the movies

With the exception of certain blockbusters, most movies play just as well on the small screen as the big. Wait a few months and rent the movie rather than seeing it in the cinema. Cancel your in-store rental memberships and go for online channels like Netflix or Blockbuster. If you only rent occasionally, you can do it online, there are plenty of sites for this.

Do your own lunch meal

It is very simple, instead of buying lunch, you can do it yourself. Make healthy snacks at home and bring them with you, so when the time for lunch came you can eat it and save money. Prepare your own lunch can be a good thing because this way you going to eat healthily and the savings will add up.

Downgrade your phone plan

Having the ultimate phone can cost big money. Everyone knows that nowadays smartphones can be handy devices. You will need one if you are travelling. My advice is not to rely only on renowned brands, search online for others brands that aren’t well known. Check phone plans in diverse companies and adjust one good for you.

Set up an online savings account

Create a new account for saving and feed it monthly, weekly, daily! Make it easy to transfer money over from another account and every time you go online to check your balance, transfer some money. This will be fun so make it a habit and natural. It painless and will help you grow your travel fund.

This advice can make you save a lot of money to spend on your trips. For more saving money tips or travel resources in general visit the respective links.

grow your travel fund

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  1. Anonymous October 4, 2017 at 1:31 am - Reply

    Good summary and all relevant. Not sure I am going to follow all those, but some I do follow already. (would never give up my gym 🙂

  2. Paula Morgan October 4, 2017 at 6:18 am - Reply

    This is fantastic advice, and each one can make a huge difference, but if you can manage to do them all, you will be away in no time. I would add joining a library you can even borrow ebooks now from many libraries and read online newspapers for free.
    The main thing I gave up was buying things new that you can easily get second hard. Especially furniture, kitchen stuff, travel gear and books. I also ditched my shoe habit.

  3. Nicole October 4, 2017 at 6:26 am - Reply

    These are great tips! Downsizing everything is a great way to get ready for a trip. And coffee definitely adds up.

  4. stephanie Frias October 6, 2017 at 7:58 pm - Reply

    I love each and every one of these tips! Especially the one about getting a used car just to get buy..and staring an online savings account 🙂 Everyone really can travel if they prioritize it!

  5. Lydia Smith October 7, 2017 at 5:27 am - Reply

    This is one of the best advice I’ve read in years. I’ve been planning for a visit to Iceland and I’ve been saving but I keep calling off. I think I’ve found my mistakes now from your post. Instead of cutting down on what I don’t need logically, I’ve been basically switching this for that so it’s a bit hard. Now that i know better, I’d do just fine. I’d also consider tge online account. That’s really a good idea.

  6. Diana October 7, 2017 at 9:29 pm - Reply

    Stop drinking is probably the best advice. Not only because the savings it yields but also for the clarity and change in priorities it offers. Bonus points for weight loss a more healthy lifestyle!

    Great list 🙂

  7. Bruce Schinkel October 8, 2017 at 1:47 am - Reply

    Really great tips in this post, and I appreciate that you went past the standard responses people normally include in these types of recommendations to be truly helpful!

  8. Adrenaline Romance October 8, 2017 at 3:48 am - Reply

    Cool advice! We don’t skip on the gym though; we’re health buffs. 🙂 Another thing we do is to allocate a certain amount of our monthly salary for our travel fund.

  9. Paula - Gone with the Wine October 8, 2017 at 4:54 am - Reply

    Good tips! Just cutting the coffee for me would make great savings… ha ha! Many of these are doable and for sure would help a lot. Thanks for the great post!

  10. Eve Kay October 8, 2017 at 2:30 pm - Reply

    This is a great list! I am already following most of it (never a coffee nor alcohol person to start with, my building has a good gym already so no extra expense on that, etc.) I do fail at NOT eating out though as we live in a city where the restaurants are piling on top of each other and it’s just difficult to pass on trying every of it :p And I love your tip on replacing light bulbs. We did that a year ago and it indeed made a difference, not to mention it’s more environmental-friendly so everyone should definitely start with that if they haven’t already 🙂

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