Saving up and budgeting accordingly will help you go a long way on your travels. Here are some tips I try to live by to make my travel dollar go further.
Whenever I look at a bill, I’m amazed at how a series of what seem like tiny, innocuous transactions add up so quickly. I’m all about balance, meaning I might splurge on one thing, and then do the exact opposite in another situation to balance the spend. I dislike stressing about money, but I still want to enjoy myself. Travel is a necessity in my life, and a priority when it comes to saving and budgeting. Here are ten tips that helped me save money and budget for travel allowance, even with student loan debt and a tight salary:
Save Money Pre-Travels
Before identifying potential changes in your money spend, assess your lifestyle to determine how you can save money and budget for travel.
There are a lot of ways I spend money when I live in a city. Between juggling rent, groceries, social meals/drinks, shopping, and paying off student loan debt, there are many expenses involved with city life. The bulk of these tips are based on my early-mid 20s salary, so it’s intended for those of you who may not make a ton, but are trying to save. Here are the identifiable ways I cut back: note, everyone’s lifestyle is different, so these may not apply to you. Remember: the main principle is that every little thing adds up rapidly. Saving takes time and patience, but once you start to notice the accumulation, it’s highly rewarding.
1. Cook at home
Dining out, even for lunch, will drain your budget the quickest. Cooking nightly will eat up your time and exhaust your routine. The best solution is to meal prep one day of the week – often Sundays are best.
For weekday breakfasts, make overnight oats. Lunch can be prepared healthy meals and pre-packed snacks, or buy them at wholesale stores, like Costco. Dinner can constitute sauteed veggies, salad, or heated soup.
2. Buy used
Settling down in a new place temporarily (for a few months), or moving in-between places> Facebook Marketplace, Craigslist, Gumtree (UK/AU) are gold mines for you. In Sydney especially, I used FB Marketplace and found so many quality items at a slashed price from moving out sales. You can also sell your items on marketplace too, to make a little extra squeeze.
Be savvy about who the seller is, the condition, and don’t overly undercut the sell when it comes to haggling. A huge peeve of mine is selling in-demand items and having people automatically ask for another 50% reduction, when it’s already priced well. Negotiating is fine, but don’t ask for things to be practically free.
You can even try to buy used items like books, if you love to read, or enroll in your local library’s program.
3. Find a side hustle
With all my costs listed above, and the occasional need to splurge, a side hustle is the perfect addition to your routine for some extra spend. You can choose what suits you best. For me, I spent my time outside work dogwalking, dogsitting, and selling clothing in decent condition on Poshmark. Depop and Mercari are other options for clothing, or eBay and FB Marketplace for home goods.
For dogwalking, apps can help you gain clientele: in the US, there’s Rover and Wag!, and in Australia, Mad Paws. You will need a background check for these (or it’s recommended).
4. Opt for the budget-friendly grocery stores
Skip expensive, marked up stores and try to get the majority of your groceries from stores like Trader Joes and Aldi. I too acknowledge the importance and desire to eat organic, small-batch, local foods from family-owned small businesses. It’s perfectly okay to prioritize this! Try to go to your farmers market, or shop around and see where certain foods cost more. I found sometimes more luxurious markets like New Leaf Community, Sprouts, or Harris Farms could be the same or cheaper for certain foods.
5. Take public transportation
Do this as much as possible. In Sydney, when you take public transport regularly, after a certain amount of rides, you get half off. I happened to have a flight early Saturday morning (6am departure) after a week of commuting, and was torn between taking a bus or ordering an app ride – my only options since the train route wasn’t open that early. I sucked it up and took the bus a little early, but only paid $3.60 versus $31. For some, sleep may be more important, but I knew I would sleep on the flight anyway. Yes, sometimes I am amazed at the lengths I take to save “a few bucks,” but it adds up! That money was worth a night’s stay in Hobart, or a meal of oysters and prosecco.
6. Dine at happy hour
Happy hour, thankfully, is nearly a universal reward. You can get great deals on appetizers and drinks if you’re feeling social or want to tantalize your taste buds. Prices are often slashed 30% or more, so try to opt for happy hour ordering, or at least get there for the first couple of rounds.
7. Reduce splurge items
Only buy items you love. If you “like” it, chances are, you may look at it months down the line with slight regret thinking, “why did I buy that?” Or maybe that’s just me…but this is the best way to cut down. Also, try to avoid checking out “sale” items if you’re not in direct pursuit of a particular item. If you don’t need it, avoid the temptation. Maybe instead, every time you resist clicking that sale email, you can reward yourself with $1 in a jar or something, that can go to your travel savings. Think of the long-term goal and keep it in mind whenever you’re tempted to make a purchase, big or small.
Trust me, this is harder to practice. The best way to start is to go through your closet, and assess every article you own. Think about how you felt when you bought it, how you feel now, and try to control your emotions or retail therapy the next time you’re at the checkout page. The best way to shake this one off though? I’ve discerned I need to evaluate if I love and item or like it, because if it’s the latter, I usually will regret spending on it later.
If you cut down on your daily coffee, that’s a savings of $20-25/week, or $100/month.
Everyone has different splurge items. For me, it’s usually shopping or massages/spa treatments, because I love a serious R&R day. I rarely prioritize nails or hair, but I know some value this more. And I don’t mind spending a bit on the gym, because wellness is top-of-mind for me. If you love a pamper for your nails, try to reduce the frequency and fill in gaps by painting them yourself. It’s not the same, but that’s saving!
8. Try to buy sale items
This may contradict the above point, but I guess what I’m saying is, if you have to reward yourself or need something, try to see if there is a deal or loyalty program. Not be confused with “browsing sales for fun,” although I am frequently guilty of this.
If you find something you love, try to get it on sale. Items most always go on sale, but if you believe the size will sell out, go for it if you *love* it. Still, try to find the best deal. Sign up for the newsletter to get a % off, use Rakuten or Honey – two free plugins that are no frills. Rakuten is an affiliate marketing tool, so they make commission off “referring” you to sites – all you have to do is use their plugin and you get a designated % back. They send you a paycheck in return. Honey does a search of any available coupon codes to apply to your order.
BUDGET DURING TRAVELS
1. Rotate splurges with budget-friendly options
The key to budgeting and enjoying your travels, for me personally, is to spend 70% of the trip on a budget or “normal”/liveable circumstances. I’m all in for the experiences of adventures or beaches, but I love a nice accommodation, resort, or hotel too. I may spend 70% of the trip camping, in a hostel, or in budget accommodation, and splurge 30% on a luxury situation.
If you have a large budget, by all means, go all in! I’d love to be able to go for the luxury the whole time. But if you’re tight, cut back on some days to spend extra on others.
2. Split with others
Traveling alone is totally my jam, but traveling with others definitely has its perks too. One of these fiscally, is the great advantage of splitting costs. Find a group of people you can have fun with, that are trustworthy, and travel together. You can then split the costs and your money will go a lot further.
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I hope these tips are insightful and help you save money and budget for travel! These lifestyle tricks were imperative for me when I simultaneously saved money to pay off my loans and budget for travel in Asia and Australia.
Where are you heading to next?
