5 Tips to Save for Travel
February 20, 2020
We all want to travel but saving for it is a different story. Here are my top 5 tips to save for travel!
1. Travel Budget
I realized about 5 years ago that the only way we were going to be able to travel was to budget it in. I started with putting away $100 a month, which saved $1200 and allowed us to take 1 trip a year. This was a written line item on our budget and was non-negotiable, just like the mortgage. Our travel budget is now $500 a month but I supplement it in other ways.
2. Save Your Loose Change
This adds up quicker than you think. We have a large mason jar in our “drop zone” so that you can add your loose change as soon as you get home. You can roll your coins and take them to the bank or use an automatic counting maching like Coinstar. The later option usually has a fee but you can choose to receive your money in an eGift Card with no fees. We use our loose change to fund our souvenir budget for each trip!
3. Use a Cash Back Credit Card
There are a lot of options in this space but we have opted for the Alliant Visa Signature. We receive a straight 2.5% cash back, which is higher than most cards that offer 2%. We also like that this one has no international currency fees so we can use it when we travel as well. We average around $1500 in annual cashback with this card. No matter which card you choose, you must pay it off each month. Otherwise, the interest charged negates your savings.
4. Save Your Extra Paychecks
My husband gets paid every 2 weeks, which means there are 2 or 3 times a year that he receives an “extra” check in a single month. We immediately deposit this into our travel fund. If you are paid weekly, there will be several months where you get a 5th paycheck that can be added to your travel fund. Company bonuses are another way to fund vacations!
5. Book Wisely
Even if you are traveling on a tight budget you can make every dollar count. I like to book at HighLifeTravelDiscounts.com because they are known for beating every other site that I check, including the big name brand travel sites. There’s also a member option that includes flights and cruises with deeper discounts on hotels, car rental, weekly stays and more! Let me know if you need more info on that! Every bit saved on booking travel means we can enjoy some upgrades or put those funds towards the next trip.
Our Travel Itinerary
Using these tips allows us to spend $10,000 per year on travel. In the last 12 months, we’ve been to NYC, Las Vegas, Gulf Shores, Bahamas, and Disney. Up next are Scotland and Ireland.
More Travel Tips
For more travel tips and tricks, you can find me here.
What are some ways that you save for your vacations?
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