Russia, Latvia, Italy, a festival and long-distance travel – the last few weeks have been a great and exciting time for me.
With all the unforgettable trips and experiences one should not lose sight of one thing: account balance!
“Travelling, that’s totally expensive!?”
Traveling costs money! And that is exactly why I am asked by my friends and readers how to make fund for my journeys without plunging into the financial ruin. I took this as an occasion and wrote my personal tricks for saving as a world traveler.
Before I introduce my tips remember this: If you travel a lot, you have to renounce other luxuries. Build a house, wear expensive designer clothes, drive a dream car, and travel the world by the way? No way!
Fundraising for your travel means making a lot of cuts. I do not spare for bad times or age. I will never build a house. Expensive cars are unaffordable luxury goods for me … And yet I am incredibly happy.
# 1 Runs a separate travel account!
I also love good food, nice clothes and all sorts of gifts. If my account is backed up at the beginning of the month, I tend to spend money on nice things. But if you’re not careful, it’s quick to get your account scuffed and left nothing left for the next trip. This does not happen to me. I have created a separate travel account where I save some money for my next trip. In my opinion, a separate account is indispensable for frequent travelers.
Think about how much money you can save per month and submit a permanent order to a separate account. Month by month, you save money for your next trip and does not run the risk of getting into financial difficulties just before departure. It does not have to be much. With 100$ a month, you save a full 1,200$ travel budget within one year.
# 2 Requests your credit card fees!
Many banks advertise with free money withdrawing abroad. The reality, however, is usually different and you will feel frustrated when foreign banks take charge. Therefore my tip demands your credit card charges back!
Promised is still promised! Collect your receipts for foreign money transfers and contact your bank. There you can reclaim the fees after the trip.
# 3 minimizes your running costs!
First, check your bank transactions and bank statements. An overpriced Internet connection, unnecessary insurance or unused gym membership? Explode intensively with your running costs per month; you will be amazed how much money “unnecessarily” goes from your account. Destroy this unnecessary cost!
For insurance companies, cable TV and internet connections as well as electricity providers, it is worthwhile to search for cheaper alternatives at regular intervals. An Internet deal, which was 30$ before, today is perhaps no longer so favorable. If you take some time and keep your account in mind, you can save money.
# 4 Cut down everyday luxury
Travel also means renunciation, especially in terms of everyday luxury. A car in the big city? An everyday luxury, get on your bike! Eat three times a week in the restaurant? An everyday luxury, cook at home! Going to an expensive gym? You can go for jogging! This sounds very rude but I would like to encourage you to question your expenses in everyday life because you save on your next journey! So hand on heart, how much money do you spend on clothing, food or leisure activities?. With a big (travel) goal in mind, saving is usually not so difficult!
# 5 Save from tax return
In conversations with friends, I had to be quite frightened to see how few of them make their tax return. Most of them say “I have no idea of it!” I say: at least try it out! I use an online tax declaration software that accompanies me through a form. The whole process cost me perhaps 1-2 hours’ time, but every year I get a little penny from my tax return. This ends up directly in my travel account.
# 6 Traveling in the off season!
A lot of my travels take place in the off-season because the costs for flights and accommodation are significantly cheaper. Of course, you have to expect a heavy rainfall or a lower temperature in the off-season, but the question is whether your travel experience catastrophically diminishes? In addition, many beaches, cities, and sights in the off-season are not so overflowed. As a result, you learn the country much more authentically, saving you long queues and weeks of pre-bookings.
# 7 Small cattle also makes crap!
79 cents here, 85 cents, rarely we get something for a round amount. And what happens to the rest? Usually, it disappears in any jacket, bag or pants or you find it later in the fluffy screen of your washing machine again. But small cattle also makes crap! Put a piggy bank in your apartment entrance. Whenever you get from the bread or shopping, you throw the little money into the piggy bank.
# 8 Last-minute vs. Early booking?
What is cheaper? Months in advance or travel spontaneously. On this question, the spirits split. Personally, I have never hit the bargain with last-minute deals. This may be due to myself because I usually know quite exactly where I would like and can get on bad bargain badly. That is why I got used to book the flights for my long-distance trips mostly very early, sometimes even with 3 months advance. So you can save a few hundred dollar, after all, the flight is usually the biggest cost of a trip. So create the basics of your journey at an early stage.
# 9 Sell unnecessary!
Separate yourself from unnecessary objects, unused technology, books or clothes. In your closets and chests of drawers at home, there are certainly some money-reserves waiting to be turned into cash. The pink raincoat or the old couch table could certainly find a new customer. Set up unused items and clothes on Ebay classifieds, arrange a clothes exchange party, use rebuy service providers. As a world traveler, you can use the small financial saving.
# 10 Let’s give you a present!
Not only does traveling cost money, but also the travel tools you need. Whether it’s a large travel backpack, a pair of hiking boots, an e-book reader, you’re sure to have a handful of things you could use for your next trip. Check backpackreviewed if you need the best backpack review. But instead of getting them, you can have some support from Christmas and the birthday! Creates a list of all the tools you need for your next journey and let them wish you a lot! It is also useful to create a wish list on Amazon. So your loved ones can decide for themselves what they want to fulfill.
# 11 Minimize your expectations!
Less is more; this also applies to backpacking. For those who just screw down their expectations of comfort, style and privacy can travel the whole world cheap. This starts with the choice of accommodation. Is it a 3-star hotel with a private bathroom, or is it a simple room in the hostel with shared bathroom? Ultimately, you will spend the least time in your hotel room. So why pay a lot of money for an overnight stay if you can invest this in more beautiful things?
Even when traveling on the road, you can save a lot of money by separating yourself from its western standards and getting into the local food. While continental food and fast food are often very expensive, one can really enjoy the streets, markets or local restaurants for little money.
A big savings potential is your transport. Anyone who will comfortably travel from A to B in the taxi will soon find a deep hole in his travel account. Use public transportation such as bus, train or rickshaws to borrow a bike or moped, find riders and allies – there are endless ways to save on transport abroad.
What are your ultimate tips to finance your travels? Share your experiences with us!