Sometimes saving money is easier when there is a specific, short-term goal in mind. For some people, it’s an object like a new TV or pair of shoes. For me, it’s a big trip somewhere in the world. Spontaneous day or weekend trips are one thing, but I plan major travel with enough time in advance to save some funds. Here are some tips:
- Break it up into chunks: paying off airfare, then saving money for the hotels, then food, then spending money
- If you want, combine the food budget & spending money into a “cost per day”
- Estimate a “cost per day” budget for your destination by checking travel guides or websites
- Keep the money in a savings account, charge your hotels to a credit card with good rewards, and pay off the entire balance when you get back
- Bonus points for keeping a designated online savings account with a fun name like “jetsetter” or “best trip ever”
- Remember to call your bank/credit card company & alert them you’ll be using your card overseas
- Consider where you want to be frugal (buy lots of souvenirs, or take lots of photos?) and where you want to splurge (fancy dinner?) - it’s an extension of how you spend money normally
- Think of how great it would feel knowing your trip is paid for rather than racking up debt
- Enjoy your trip!
