Most of us would agree that traveling is one of life’s greatest pleasures. The opportunity to travel allows you not just to see beautiful sites, but also to interact with different people and cultures. When you have the chance to travel you can gain value from the experiences and people that will shape your views and last a lifetime.
Despite all of the wonderful benefits of traveling, many people don’t feel like they have the financial opportunities to take the trips they’d like to, but the ability to travel doesn’t necessarily have to be out of the reach of anyone, with some smart planning.
The following are some simple, easy-to-follow ways you can start saving more money so that traveling becomes a reality in your life, rather than a dream.
Create Definitive Goals
Saving more money with the broad intention of traveling can make it tough to reach your goals since you don’t actually know what they are.
Instead, create a savings account specifically for traveling, and plan a definitive trip. That will not only make it easier to save, but you’ll also know how much you should be putting aside to get to that point.
Automate Your Savings
When you’re looking at your bank account at the end of each week, you might not necessarily feel inspired to put money in a travel savings account, particularly if you don’t make a lot of money, but the best thing you can do for yourself is to automate your savings.
Set up an automatic transfer each week, even if it’s only a small amount of let’s say $50, and make sure it goes directly into your travel savings account.
You won’t be thinking about it, and eventually, it’ll just become something that always happens, so before you know it you’ll have an accumulated travel savings.
Consider Ways to Earn Extra Money
If you’re really serious about your travel goals, you might think about taking on extra work in addition to your day job. This could mean traditional part-time jobs such as waiting tables, or you could do something such as becoming an on-demand driver for Uber or Amazon’s delivery service.
You could also consider working online through a freelancing service as a writer, editor, web designer or anything where you have skills.
You could then exclusively put the money you earn on the side toward your travel savings.
Put Your Money in a High-Yield Savings Account
During the time you’re working and saving money, you want to earn as much interest as possible. That’s tough right now, because interest rates are incredibly low, but do some shopping around and see if you can find a high-yield savings account where you can park your money until you’re ready to start buying travel tickets.
You can also consider investing in the stock market or peer-to-peer lending because you’ll get better returns, but this is riskier, and you could lose your travel fund.
Traveling doesn’t have to be outside of your reach, but unfortunately, that’s an idea many people hold onto. By creating a specific savings account, automatically putting aside a small amount each week and looking for ways to earn extra money, you can start realizing your dreams of traveling around the world.