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Almost every person has dreams of traveling the world someday. Unfortunately, most believe traveling is a fantasy achievable only by people with wealthy parents, lottery winners, or people in high-paying jobs.
While it is easier for high-income individuals to travel, you can also make your dreams of traveling come true if you take the right steps, such as saving. You probably think you live on the edge and have nothing to save.
This guide points out an area where you could adjust your lifestyle, translating to enough savings for travel. Check out how I was able to travel by saving more than 15K USD in 6 months!
Create a Budget
Travel expenses can vary based on the budget you have for it. You do not have to come down to the exact figure in your budget. But can come close by considering all the expenses you may incur.
However, you may need to have a destination in mind when creating a budget. That way, you can quickly get a rough idea of the cost of your travel in terms of hotel costs and the cost of the activities you want to engage in.
Opt For Low-Cost Outings
If you are an outing person, you probably spend pretty too much more on your outings than you realize. When saving for travel, you want to be sure you are conscious of every dollar that lives in your pocket.
While saving doesn’t always mean you stop doing the things you love altogether, you could tone it down or look for cheaper alternatives.
For example, you could do a family picnic instead of an amusement park. If you have to eat out, look for cheaper alternatives around you. That way, the little savings you make cumulatively will add up to quite a significant amount with time, even if they may not seem like much initially.
Cut the Coffee
According to the National Coffee Association, an average coffee drinker drinks 3.1 cups of coffee per day. Some people fix their coffee at home, but a good number will pass through their favorite drive-through for one.
The average cost of coffee at Starbucks is $2.5. Assuming you take two a day, that translates to $5 a day and $150 a month. Considering the whole year, the entire cost will be $1,800. That’s enough expenses for a short trip to a low-budget destination.
It is not about giving up your coffee altogether. However, you can make cuts by fixing your cup at home or limiting the number of cups you buy in a day or week.
Cook Your Food
Eating at a restaurant can be very convenient. You do not have to stress with cooking or doing the dishes afterward. But it comes at a considerable cost.
In many cases, a $15 plate in a restaurant can cost as low as $5 when prepared at home. Now imagine several people living in your household. The savings can translate into significant savings in the long run.
If you do not know how to cook, your saving plans could create the perfect learning opportunity. You may just love it and make it something you want to keep doing for the long term.
Change Your Telephone Plan
On average, Australians spend $40 on mobile plans per month. But the cost can vary widely with plans, data usage, and service provider. One of the main ways subscribers lose money is by paying for a plan they do not need or staying stuck with a provider charging exorbitant prices.
An excellent way to save money on your mobile plan is by identifying the monthly data you consume. Also, consider the number of calls you make.
If you are unsure what plan to choose, check out this iSelect mobile phone plans guide on different providers in the market to see which works best for you.
Reduce Your Utility Bill
Heating and cooling expenses can translate to significant figures at the end of the year. While you may not do away with cooling and heating, you can find ways to minimize your energy consumption.
For example, rather than running your AC all day in summer, consider opening the windows to allow air to flow in and out, creating a natural cooling effect.
In winter, you will want to ensure that all your doors and windows stay shut tight to conserve as much heat as possible.
You can also consider setting your thermostat slightly lower than your normal room temperature. There is tons of information on the internet about saving on utility bills that you may want to check out for ideas.
Final Words
Traveling is possible for everyone. The main difference between those who travel and those who only wish they could is their planning and saving.
As highlighted in this post, saving doesn’t mean giving up everything you love. You only need to cut back some to fund your travel. It is more like dropping some of the things you love to spend on something you dream of.