Saving for travel is a goal for many people – but how do you save for a trip without giving up your current lifestyle?
With just a few tweaks to your budget, you can establish a personal finance plan that lets you enjoy your day-to-day life while also giving you the opportunity to travel.
Tip #1: Set up an Automated Savings Program
Many banks allow you to set up an automatic transfer from your checking to your savings account. The amount could be very small – say, $10 a week.
This amount is so small that you likely would not miss it in your daily spending, but over the course of a year, you will have saved an additional $520 – without even thinking about it!
Tip #2: Stop Impulse Purchases
Here’s a retail secret: every item near the checkout lines and at the end of an aisle is placed there to lure you into buying something you likely do not need.
Make a shopping list before venturing out to the store, and then be sure to stick to it.
A $4 latte or “Buy One Get One Free!” special may not seem like a major investment, but over time this habit of purchasing things on a whim will deplete funds that could have been directed towards your next trip.
Tip #3: Purge your Household
Today’s technology has elevated the old garage sale to new heights.
Take inventory of your items and determine what you no longer use enough to justify their place in your home. Do you have a barely used juicer stored in a cabinet? Maybe extra furniture or clothing? All of these items can be sold on websites such as craigslist, eBay, PoshMark, and many more!
You will remove clutter and make money as well.
Tip #4: Analyze your Recurring Expenses
Some monthly expenses are unavoidable (such as rent or a mortgage), but many can be negotiated.
Do you watch TV enough to justify a premium cable package? There are many affordable entertainment options, such as Netflix, that cost far less than a cable package.
Could you get by with slower Internet service? Calling your Internet provider and requesting a lower rate can often pay off.
Tip #5: Unsubscribe from Retail Emails
Even if you already delete emails you receive from stores, dedicating 30 seconds to permanently unsubscribing removes daily temptation from your inbox.
Another tactic is to create a separate email address that you use when shopping online. This way, all retail emails that might tempt you with sales are in a separate space.
Removing this temptation from your daily routine can help you save money.
With these small adjustments to your lifestyle, you can painlessly save for travel. The experience of a trip is worth taking a few moments to investigate areas of your life where you are wasting money.
By using these tips, you can remove waste from your life and establish good habits for lifelong savings. Share this article with a friend or family member to help them achieve their travel plans too!
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