Traveling the world is easier said than done, but fortunately, many strategies will ensure you can travel as often as you like! Recently, savvy travelers met in an online discussion to reveal the best tips and tricks to ensure ample money in your bank account set aside from going on another adventure.
1. Save Big, Save Early
Sometimes, the most straightforward way to travel is the most logical: Save early and often! Why are we surprised when young people travel so much when we know that many of them have a strong work ethic? “I have a friend who managed to save about 50 grand over two or three years and then cut out,” explains one man. “This was just before the pandemic, and he is still traveling. He spends less than a grand a month and takes odd jobs when he can. A few years ago, he spent almost a year in Albania because he could live there for less than $500 a month.”
2. Prioritize Travel
Many men and women report that looking at potential purchases in a different light helps them keep their big travel plans in perspective. “Whenever I think about spending money, I convert it to ‘days of travel’ in my head and decide which will make me happier,” confesses one woman. “It’s almost always travel.” Think about it: One fancy dinner out could mean a potential plane ticket to your favorite destination!
3. Don’t Have Kids
It’s true: Don’t have kids if you want to maximize your travel dollars. It may sound obvious, but many people don’t realize how much of a drain children are on their finances. Some experts estimate the yearly cost of having kids is between $15,000-$20,000 per child, which means most parents do not have much money left over for traveling.
4. Find Like-Minded People
If you don’t surround yourself with people who share the same interests as you, you’ll find it infinitely more challenging to travel. By finding like-minded people, you can support each other in your travel goals, share ideas, and even explore the world together. After all, hotel rooms and Airbnb stays are always less expensive when traveling with a companion.
5. Jump on Good Travel Deals
Let’s be honest: Sometimes you have to be lucky occasionally! Searching for, identifying, and jumping on great travel deals can yield impressive results. “I’m 18 and have saved up lots from working,” reveals one woman. “Every once in a while, I go on Skyscanner, and if I see an extremely attractive deal, I can’t shake it off and just book it.”
6. Live With Your Parents
While living at home with your parents for as long as possible is the opposite of glamorous, it is a surefire way to save enough money for traveling! Without worrying about paying rent or a mortgage, you’ll find you’ll have tons of cash available for exciting adventures all across the globe. (Make sure you treat your kind parents to dinner occasionally, okay?)
7. Stick To Your Budget
Setting a budget (and sticking to it adamantly) is one of the hardest things to do. However, countless people confess that putting their expenses and income down on paper and acknowledging their current financial situations enabled them to see their finances in a new light. After all, you won’t know if you have any money left to travel unless you budget for it!
8. Cut Back on Discretionary Days off From Work
If you work for a company that supplies paid time off, saving those days for vacations instead of illnesses or mental health days is a sound strategy. “I can only travel for a few weeks at a time, a max of a month per year,” admits one man. “I save all of my PTO throughout the year, save money, and take my vacation each year and go where I want to. When I am at home, I work, and I try not to take any time off so I can travel more. No three-day weekends or sick days if I can help it.” Only people in good health should employ this method!
9. Live Below Your Means
Living below your means is the basis of financial wellness, but it’s shocking how many people don’t grasp this simple concept. “Live below your means and prioritize traveling if it’s what you want to do. My wife and I aren’t rich, but we’ve visited Europe several times. The biggest thing I’ve noticed is most people don’t live below their means and don’t know how to give up other things to open up some financials or time for travel.” The less you spend on frivolous things, the more money you have to travel the globe!
10. Hustle for Jobs Overseas
Many adventurous souls reveal it’s easy to find random odd jobs in various cities across Europe if you know where to look. Whether washing dishes in Paris, painting houses in Prague, or working for food delivery services in Hamburg, money can be made if you hustle! Many European nations don’t follow the same stringent occupational laws as the United States, meaning that dropping in, working a few days or hours, and collecting your pay is far more commonplace than stateside.
11. Find Freelance Jobs
Over the past few years, I’ve written articles like this from locations worldwide. From Hawaii to the Dominican Republic to Italy (and countless places in between), having a quality freelance job means having the freedom to travel the world with relative ease. Trust me, there’s nothing like having a well-paying job that allows you to work from anywhere! Although these jobs are hard to find, they’re out there for the taking!
12. Know the Difference Between “Traveling” and “Vacationing”
According to many people, there’s a difference between taking a vacation for a week in a luxury resort and enjoying a month-long visit to a new country. “I’ve seen people spend less in six months backpacking in Southeast Asia than I spend in a week on my luxury vacations,” confesses one woman. “There are many different ways to afford to travel; it’s all about what your goals are.” Ask yourself what you’d enjoy more: A five-night vacation at a resort in the Caribbean or a month-long stay in a new country for the same price.
13. Work Endlessly
Nobody likes working nonstop, but that’s the reality for countless people today. It’s simple: The more you hustle, the more you work, and the more you grind, the more money you’ll have for traveling. So whether it means having a side hustle or two or putting in for overtime at work, you need to dedicate everything to bringing in the highest income possible. This comes easy for some men and women; it’s next to impossible for others.
Source: Reddit.
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