How to (Actually) Save Money to Travel

Devyn
Jan 7, 2019
7 min read

Updated: Feb 1, 2019

Travel isn't free. I'm not going to pretend I've cracked some secret code to make it happen. If you have discovered some magic way to travel for free - please start your own blog and send me an invite ASAP.

You'll see plenty of travel bloggers promoting ways to travel on the cheap through ways that just aren't possible (or desirable) for where my life is at. When I search for "travel for free", this is what pops up:

Finding a job abroad, like working at a resort, in exchange for room/board (I have a solid job with benefits and a salary and PTO. I'll save this route for when I have a midlife crisis)
Couch surfing and backpacking (I really like my nice duplex with its pretty granite kitchen island, thank you very much)
Opening tons of credit cards to use travel reward points (yeah, check out THIS post)

Chances are, your reactions to these ideas are like mine. If so, great - you found a friend in me. Bad news - it means you need to actually save money to travel. Shocking, I know. Anyone can save up for an amazing experience abroad. It comes down to making traveling a priority in your life and being diligent about saving money. Anyone can use the saving suggestions below, regardless of your income and situation. The only difference between you and someone else is how fast you can save. BUT, in theory, if you stick to your saving plan, you can eventually take your dream trip.

You'll find bits and pieces of advice on how I make travel affordable throughout my blog posts. From airfare to accommodations to literal trip mock-ups that show you how you can score a great trip for a price point below what you might expect - it's written somewhere. Once you know how much you need to save up, you can use these tricks and tips to make saving easier:

1.) Setup a Savings Account

It's gonna be really difficult to track your travel savings if it's co-mingled with all your other funds. Open up a fee-free, simple savings account that's dedicated to your travel funds. It'll feel much more rewarding to see that balance grow and you'll be less likely to "accidentally" spend it.

2.) Take the Thought Out of It

It's payday (wh-hoo!!!). First thing I'm doing - checking my bank account balance. Then I think about what bills I have to pay and things I need to buy. And guess what? That paycheck is basically accounted for real quick. What is the likelihood that I consciously transfer money into my travel savings account? Not too great because in my head, I've already determined where my paycheck is all going. First, figure out how much you need to save from each paycheck to make your trip happen in a reasonable amount of time. For example, if I want to travel one year from now and my trip will cost me $1,200 (like my mock-up London itinerary HERE), I need to save $100 a month, or $50 a paycheck. Then, set up an automatic transfer from your checking account into your travel savings so the funds are pulled out right away. It'll keep you more consistent and on track with your savings plan.

3.) Make the Money Impossible to Spend

Want to make sure you don't spend your savings along the way? Make it impossible (or as impossible as possible) to do so. Some banks will give you an opportunity to get an ATM card for your savings account. Don't do it. Or better yet, open up a travel savings at a whole new bank. Most employers will let you split your direct deposit between different accounts - simply set it up so your $50/paycheck (or whatever it is) is direct deposited into this isolated bank account. This forces you to have absolutely no way to access the cash unless you drive to the bank and withdraw it yourself, which is hopefully too much work and convinces you not to.

4.) Tell Everyone about Your Trip

Be that person. Post statuses. Reshare photos taken by others (give credit!) of your destination. Coworker asks what you did this weekend? Tell them you researched hotels. Family member asks for a life update at Christmas? Say you're super excited to be going to XYZ. It'll hold you more accountable. You'll probably feel really silly if you never go on your trip after talking it up to everybody. Sure, you might mildly annoy people, but consider them your secret accountability partners.

5.) Save in Obscure Ways

Maybe you want to save up faster than just a set amount per paycheck. Set up an odd saving rule - one you can remember - and stick with it. Maybe you'll save every $5 bill you come across from now on. Make a cute jar, slap on a picture of your destination, and start squirreling away those dollars. Put a dollar in the jar every time you skip your daily Starbucks run. "Round Down" your month-end checking account balance and stick it in your savings (ex. I end the month with $1,083.74, I save $83.74 and bring my account to an even $1k). It'll seem small but it'll add up in the long run!

6.) Pony Away Extra Money

Lucky enough to benefit from a work bonus? Got a tax refund? Grandma sent you a birthday check? Put it in your savings. Live your day-to-day life off your paycheck and treat all extra money as funds for your future travel endeavors.

Sushi in Vancouver > Chipotle for lunch again

7.) Check Your Spending

To some of us, looking at your bank statement is like looking at your texts after a drunken night out. It's scary what surprises and regrets you might find. Put on your big kid pants and pull up your last month (or two or three) of transactions. Separate things into categories (dining out, "non-essential" expenses like Netflix, "essential" expenses like rent and insurance, clothing/Target runs, Starbucks, etc.). How much did you spend? Anything really jump out at you? I recently did this and discovered I spent about $120 at Starbucks in one month. YIKES. I love my coconut milk lattes, I do, but I also have a perfectly fine espresso machine at home and I love the idea of wine tasting in Italy more. Learn where your money is going, find ways you can cut back, and stick that savings in the bank. Actually, scratch the whole "cut back" mentality and see the next piece of advice...

8.) Change Your Mindset

In the example above, putting my $120 Starbucks spend into my travel savings isn't just "cutting back" on my favorite coffee chain, it's funding my travels. View your savings positively and you're less likely to feel like you're sacrificing and giving things up. Sure, you are making a tradeoff between an immediate gain and something more long term. But see it as an investment in your dream, in expanding your horizons, and in having some awesome stories to tell once you come back from abroad. You aren't turning down a concert ticket, you're just paying for your future cooking class in Thailand. You are being a goal-getter, not a miser.

9.) Don't Save Too Much

Ha, what? Saving too much? Is there such a thing? Maybe you are someone who can minimize spending sooooo much and not care. For me, not so much. I could save half my paycheck. I'd have quite a nice chunk of change to travel much sooner. But I would probably be slightly miserable saving that much. I know myself - if I was to cut myself entirely off of date nights with my husband and Hulu without commercials and my ungodly expensive under-eye cream, I'd be a little bummed. My day to day wouldn't be sustainable for very long. It's not a bad thing by any means. It's like dieting. You could eat nothing but kale salads and lose a lot of weight really quickly. But you're probably gonna cave in a hunger-filled rage two weeks in and eat everything in the pantry. Save enough where you are making good progress, but still give yourself a life so you're more likely to stick with your saving plan.

10.) Book Something ASAP

Once you've hit enough in your savings to book your flights, do it. You can rarely cancel a flight without losing out on some part of your purchase. If you book something like that sooner on, you'll be more motivated to keep up with your savings because, well, there's no turning back. Buy those tickets and post them loud and proud on your fridge because that trip is happening.

11.) Motivate Yourself

Saving sucks. Your enthusiasm for it will ebb and flow. Find little ways to keep yourself motivated throughout the savings process. Get a calendar or whiteboard and countdown the weeks (days, months, whatever floats your boat). Print out pictures and tape them to your bathroom mirror. Buy a new (inexpensive! because we are saving here!) outfit/swimsuit/hat ONLY for your trip and hang it so it's the first thing you see when you open your closet. Set your computer wallpaper to a stunning picture of your destination. Remind yourself often of what journey you are going to be embarking on. It'll keep you motivated - regardless of how long you have to save up.

Remember - very few people in this world can book a trip on a whim and have all the cash they need right then and there. I certainly never have. Most of us need to save up for a trip. When people say that cost is why they can't travel, it's more likely that they don't have the willpower or know where to start when it comes to saving. They lose motivation or think the amount they need is way too staggering to ever happen. You can save for any trip - yes, any trip - at any time and make it happen. The only impact is how long it'll take you to save. I can save $100 a month and take a trip abroad in a year easily. I can also save $100 a month for two years and take an even more luxurious or longer trip. Saving over time takes diligence. Use the tips above to stay on track and make it happen.

What saving tip are you going to start with? What destination are you saving up for?