They say money can’t buy happiness, but it depends on what you do with it.
Saving for the travelling experience of a lifetime can seem daunting at first but after months of saving and waiting, there’s nothing more exhilarating that booking the first leg of your flight or stepping onto a plane to being the adventure of a lifetime.
In this article, we’ve included some tips that will help you organise your finances and get your money to start working for you, not against you so you can start building funds for that once in a lifetime trip.
Top money saving tips
Most people don’t realise it’s easy to save for your next trip away by just using a bit of discipline. A good rule of thumb for savings is to put away 10% of your income each payday into a savings account. Make sure that you don’t have a debit or credit card linked to this account, as it is too tempting to spend it if you find something you can’t seem to live without. Do you really need that new pair of shoes or round of drinks in the pub?
Make sure that you don’t have a debit or credit card linked to this account, as it is too tempting to spend it if you find something you can’t seem to live without. Do you really need that new pair of shoes or round of drinks in the pub?
Splashing out on one large purchase may seem like a good idea at the time, but it’s only holding back your traveling dreams.
Collect the benefits
Get a credit card that rewards you with frequent flyer miles. This is a great tip, but you need to be sure that you can pay off your balance monthly. These cards usually give you a big bonus miles bump on your first purchase, plus miles for every dollar you put on the card. You could be earning free flights very quickly. However, one missed payment could lump you with a massive interest bill that might set you back even further.
Organisation is key
Organisation is key for savings. Little things such as making a list of items to buy before heading out to the supermarket can make a huge difference. Keeping a weekly budget can also help you streamline your finances, cut excess spending and save more for that dream trip.
Don’t fall off the bandwagon
Don’t be too ambitious! Even though you need to have a rigorous savings plan, you need to set a realistic savings target for yourself every month. Be sure that your target amount is a quantity you can afford to save on a regular basis and don’t set your sights too high! If you try to save more than you can afford, it’s more likely you’ll give up saving altogether, and that’s not what you want at all!
Step by step
Saving for that trip of a lifetime is not impossible, all it requires is a bit of planning and a disciplined approach to savings. The tips above should help you take that first step to building up your savings fund and hopefully, once you get started, it won’t be long before you’re off on that trip of a lifetime.