Travel costs money. Sadly. But there are a lot of ways to save money. From cutting down costs to earning a bit extra.
Everyone saves money in their own way, so I collected some of the most famous ones and how it can help you.
With saving, you really have to try and see what works for you. I, or example, really need to put the money where I can not reach it, otherwise, I will keep stealing some money out of it to go to the movies or something.
Try different things, combine them, make up your own way. There are so many ways to save!
The secret way
I love this way of saving. For me, it is also the best way. You won’t notice that you are saving, but it will go quick.
How it works:
– From now on, take out money every week (I take out €100, – on Monday)
– Pay everything with cash
– Put all coins smaller than €1, – or $1 or just every coin in a closed jar or a piggy bank.
Just make sure you can not open it quickly. I just superglue the lid shut on an empty peanut butter container and make a split on top.
– The week before your holiday, break the jar. Count all the coins you saved. It will be pretty much, and you probably did not notice you did not spend it!
– Now you have a lot of coins. Some of the options
o Take it to the bank and put it on your bank account
o Take it to the bank and change to bigger money
o Take it to an exchange point and get another currency (if you need it)
o Or what I do: Give it to your mom and get her to put it on your bank account. (She loves coins for good causes and stuff)
In the last 6 weeks, I already saved €50 euros this way. From the €600 took out the bank. So, this just shows me that I don’t need €100, – a week and it got me to save some money.
You don’t need it
Do you know those cute sneakers at that one store? And do you remember those perfectly cute sneakers in your closet? You don’t NEED those new sneakers. If you have the strength to walk away, you just saved maybe €100+ euros.
The same goes for a lot of other stuff. Do you need that extra dress, those earrings or that new watch? Are you really going to use or wear it?
Not only for clothes but also books, the newest phone, and the expensive pillows? Probably now, you just WANT them. And that is okay, you can have them. But if you want to save money, you need to prioritize.
Sell your stuff
If you look in your room or apartment, you will probably see a lot of things you actually never use. Or clothes in your clothes with the tag still attached.
I used to buy these collectible items, and they were just sitting in my closet. I loved them, but when I started traveling, I realized that I won’t enjoy them anymore. As I could not take them, all and I would not be at home. So, I decided to sell them to people that do enjoy them. It was the easiest €500, – I made in one day.
The best part? I don’t miss them. Now I wonder why I bought them in the first place. So, search for everything you don’t use or want anymore and see if you can sell it.
Please don’t sell crap, it must have some value. No posters with scratches and kiss marks on them etc.
This will not only get you some money, save you some money, but if you are planning on getting a storage space, it will save you a lot of space and money.
Live with parents or friends
Of course, you want your own place. But if you are traveling a lot, it means that you are not at your own home, but you have the costs. So, what if you would live with a roommate or still with your parents? This will cut down your costs immensely.
I made a deal with my parents: I can live with them if I want IF I am not home for more than 2 months a year. The rest I must be traveling. If I really want to work and stay in one place, I must find something of my own.
This gives me free storage, but also a free place to stay when I visit my family. For me, it is great, because I don’t pay for an apartment that I never use.
And for the last two years, I have been away for 10 months a year, so that is just great!
So, go and make a deal with a friend or a family member. Pay just a little bit (instead of the whole rent) in exchange for leaving a few boxes and sleeping on their couch when you are in the country.
You just sold all your stuff, so you don’t have a lot to store!
Rent out your house
So, if you do have your own place, consider renting it for the time you are away. Look for people that are in between houses or travelers that go home for a while.
Just be very careful about how you look for tenants and meet them once. Just so you know you can trust your place with them. Don’t take the first person you meet on craigslist.
Also, check if your rental contract allows it. This might not be the case.
Rent out a room
If you have a spare room in your house, you can also consider renting it out while you are also there. This way your monthly rent will be lower, you might cook sooner at home and meet someone new.
You don’t have to rent it out to tourists. Every week someone else… ugh I wouldn’t. But maybe there is a student that needs a place to stay for a semester or something like that.
The typical way
You probably know this way already, but I do feel like I must put this in. This is the primary way of saving.
– Calculate your monthly costs and your monthly income
– Give yourself some pocket money (you can still have fun)
– The difference will be the amount you save.
– Put this amount on your savings account as soon as you get the salary.
The trick is to leave it on there!
If your costs are €700, – each month, you earn €1200, – a month. Give yourself some pocket money. So, let’s say you need €850, – each month. This means you can save €350, –
Monthly cost includes bills, rent, groceries, etc. That is already a weekend away!
Cut down your monthly cost
Do you need that car? That expensive phone subscription? Or those magazines you get every month and never read?
You can save a lot of money if you make choices. A little less megabyte on your phone, a smaller and cheaper car or just none! Cancel those magazines.
But you can start even smaller. How about putting on a sweater instead of putting on the heater. Or showering for 5 minutes instead of 10. It does not look like much, but it will save quite some money in the long run. You will even get used to it and not even miss it!
Cook for yourself
By cooking for yourself, you will save a lot of money. Do groceries and cook. Don’t go out or get take out every single day.
Not only for dinner but also breakfast, coffee, and drinks. You don’t need to go to Starbucks every day. Get a Thermos and make coffee at home. This will be so much cheaper. Or just drink coffee before you leave.
If you like going out for a drink and talk with friends, think about drinking at your place next time. Invite your friends, ask everyone to bring something (a bottle of their favorite drink, a bag of chips, pizza or anything else) and enjoy. It might even be more fun than going to a bar for a drink and a lot cheaper!
I also like to bring some games and have a game night. Make it fun and enjoyable.
I am not saying you can never go out again, but don’t do it every day. You can go out once a month or maybe once a week and enjoy it even more! You will be surprised how much money you save and how much or you will enjoy your nights out.
Get an extra job
If you are a student or already have a fulltime job, this one can be hard. But there are a lot of ways to earn a bit extra.
Next, to selling your stuff, you can also babysit, become a dog walker, sell handcrafted stuff or even sell baked goods.
Think about your skills and how you can use them. Because why not?
How to save for your next holiday?
So even if it sounds hard, it is pretty easy to save a bit every month. I won’t say that you can go on a year-long trip after a few months, but all little things help!