9 Smart ways to save money for your dream vacation!

Last Updated on January 28, 2020

Wanderlust is probably the word that best describes this millennium, and the world is so big and full of wonders that it is hard to pick one dream vacation. And even though travel websites gather a fair amount of travel deals, offering cheap airfares for a myriad of destinations, most of us have that one place we have always wanted to visit but that is somehow out of reach because of our budgets… Well, we bring to you a list of 9 tips that can help you save for your dream vacation.

Read on to find out!

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1. Keep it real

If you are wondering how to save money for travel, the first step on our list is to set reasonable goals. If you live out of your paycheck and you have many expenses, you have to be reasonable and honest with yourself about how much money you can set aside for the trip of your dreams, and start planning from there. It may take you more time, more effort or a change of plans, but it is important to plan for something that you actually think you can achieve, otherwise you may end up giving up on saving money out of frustration for not reaching your goal.

2. Set the money aside

If you have bills to pay, that is a priority. But if you are one of those people that can’t resist the urge to splurge every time you have some money left, it’s time to create a travel savings accounts– you can even talk to your bank and set up automatic transfers every time your paycheck drops. Look into the best travel savings accounts because some banks even offer you a percentage just for having your money there.

3. Use your smartphone to save money

Smartphones are a great tool in our everyday lives, but we bet you never thought it could be useful for your travel savings. You have many apps to save money for travel, like Digit, which will basically take a small amount from your account every day and transfer it into a separate account. It will also let you know how close you are to your goal.

4. Pick up the tab

If you are out with friends and the tab comes, offer to pay and have your friends paying you back. If you have a rewards credit card that gives you a bonus at restaurants, this can be a way of making a little extra money for that vacation you have been dreaming of – it might not be much, but every cent counts, right?

5. Avoid impulse purchases

The Best solo travel destinations plan is when you are saving for your dream vacation. Avoid putting yourself in a vulnerable position if you know you are one of those people that can’t resist a seemingly good deal. If you have shopping issues, don’t let them transform into travel issues – stay away from the shops.

6. Seek discounts

If you pay attention to travel sites, chances are you can get yourself some sweet last-minute travel deals. But in this case, we are talking about every aspect of your life – try maybe calling your phone company asking for a better rate, for example. If you threaten to switch companies and are persuasive and firm enough, they will offer you a better deal to keep you as a client.

7. Prepare your own meals

Figuring out how to save for travel is not the same for everyone, but this is a savings technique that can extend to every saving goal you ever set, and not just for travel and leisure. Eating out is quite a temptation, but eating at home or preparing meals for work can save you a ton of money. Plan ahead, shop for groceries with discounts and put together a weekly menu. On your day off, take a couple of hours to cook – it will save you time, energy and money, and it will help you widen your list of possible places to travel.

8. Housing swap

Finding a place to stay is probably the most stressful and expensive part of traveling. House swapping isn’t the kind of thing you will find at a travel agency, but fortunately we can be independent travelers nowadays. There are websites, like HomeLink or Home Exchange, where you can get in touch with the people you want to switch houses with so that you both get to visit a different place and save a bunch on housing costs. Be your own online travel agent, find a trustworthy person, and enjoy your free stay.

9. Use your skills

You already got yourself the best travel credit card, you have already found your ideal travel insurance, you have every step of the way mapped out, but you are still missing money. Take a look at your skillset and start figuring out a way to boost your income – what can you do that can be exchanged for money? Is there any freelance work that fits your skills? Do you have time for a part-time job? Do you have any old things you might want to sell? And, who are you planning to travel with? Because if you are doing some solo travel, you could always try to engage in one of those exchange programs where you can trade work for stay and food, and this can automatically get you closer to your dream vacation.

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