As I mentioned in the last post, I’m keen to travel more this year, so I’ve been looking at practical ways to bump up the holiday budget.
How do you avoid paying top whack for your trips away? How can you squeeze more out of your available funds? Is there a way to save money and avoid queues? You know, I think there might be.
5 ways to save money for travel
- Track all of your expenses. Yes, all of them
Like calorie counting for the wallet, tracking every single penny you spend works because it focuses your attention on what’s really going on. Plus it’s incredibly boring to do, so you end up not spending to save yourself the tedium of having to record it. Use an app or a notebook (that’s not a green flag to splash out on new stationery BTW).
- Make the most of what you have
First of all, ring-fence some money in case of emergencies. Then consider opening an investment account like the one you can find out about here.
Obviously with investing there is always a risk that you could end up losing some of your capital. But if you choose wisely and things go as planned you can make more than you would if you simply put your money into a standard savings account. Meaning that your travels may take you further in the future.
- Plan and book ahead
The days of last minute bargains are long gone. These days, the sooner you start to plan your trip the better. Put together your itinerary in advance, especially if it’s a once in a lifetime trip. Start with the ‘Musts’ and book them first. This will make it easier to save because you’re aiming at a specific goal rather than chucking your spare change into a vaguely holiday-shaped hole.
- Never book without a discount
The other good thing about planning ahead is that it improves your chances of getting some money off. Especially with major attractions such as the Eiffel Tower or the Colosseum in Rome, booking ahead should snag you a discount and avoid having to queue on the day.
You can also sign up for airline and accommodation websites’ newsletters to hear about bargains. Use an email address that you set up especially for this purpose, so as not to clutter up your regular inbox.
- Have fun for free
The simplest way to save is by not spending, but that doesn’t mean you have to sit indoors staring at the walls. Many of the attractions I visited last year were free, from The Wallace Collection in London to Harry Potter’s birthplace to Brighton’s smallest art gallery. While you’re saving money for travel, look at your local area with fresh eyes. Think about what you might have spent that day and pop it in the pot for your next, bigger trip.
How do you save money for travel? Leave a comment, I’d love to hear from you
* This is a collaborative post in partnership with Wealthify