How To Save for Traveling

    

    As soon as we got married, my husband and I set a plan. We'd spend the first 5 years of our marriage on us. No plans to have children, no major plans to move locations. But rather, work on ourselves, make wonderful memories and grow closer together. A part of this plan included seeing the world. Not necessarily leaving the country all the time. But, exploring parts of the US we hadn't really seen before. 

    A huge misconception about traveling is that you have to be rich. Absolutely incorrect! If that were the case, my husband and I would be home all the time. We are by no means rich. However, we have made it a mission to be financially savvy. This includes knowing exactly where our money is going and how we can spend/save it.

    With every goal comes planning. And, might I say, that is one of my favorite things to do. Just ask my husband. It's crazy because I love sharing places to go on this blog, but what I find even more valuable is how to get there.. financially speaking. So, here are a few reasonable things we do to save up for our travels.

1. Set aside a completely separate savings account for traveling

    Yes, that's right. If you're serious about wanting to travel, keep those funds separate from all other checking & savings accounts. This will ensure that you only dip into this account when it comes time for it. It's also vital that you not only save for travels but also make sure you're building up your saving for other things as well. Funds that  apply to this account would be any and every expense related to the place you are going (eg. Flight tickets, food, activities, prepayments, hotel/accommodations, deposits, tips, tolls, gas, etc).

2.  Know where you want to go in advance

    The early bird definitely gets the worm when it comes to traveling. I find that when I book things in advance, I am able to secure cheaper prices and it gives me more time to browse for deals. When I'm booking last minute, I always feel rushed. 

    Traveling is fun in the moment, but the planning may take month, a year or two (depending on circumstances). But, the key is to already have in mind exactly where you want to go. I'm not talking general area. I mean, city state and maybe even zip code. I know, it may seem extreme and inflexible, but it helps when rounding out your budget.

3.  Sum up all estimated expenses (including small ones)

   With saving, every dollar counts. So, don't get into the habit of thinking that you can get away with not doing the math. It's so vital to create an outline of how much you plan on saving, when you plan on doing so and how often. We usually put a little bit into our savings each paycheck. And over time, it adds up. 

4.  Utilize spreadsheet and note taking documents

    For our monthly and bi-weekly budget, we make sure to include an entire spreadsheet for each of our savings accounts. With the use of formulas and functions on Excel, we can easily add up any predicted expenses and also any predicted income that can be contributed towards our travels.

 

5.  Keep track of savings account regularly 

    The problem a lot of people mention that they have with budgets is the follow-through. You may have created this lovely spreadsheet, done the math. But, later on down the line, you find yourself changing things and not recording them. Eventually, you realize that your predicted savings doesn't match up with how much you actually saved. You may even notice that your expenses don't add up either.

    This is why it's so important to keep track of how much you're saving and spending. These numbers need to match up to those that you predicted for. Yes, sometimes things happen and changes are needed. However, when you have everything recorded and updated, it helps you to fill in those gaps later on.

6.  Try not to spend all your savings on one trip

    Ideally, you should have money in your travel saving ALL the time. Even if it's not enough for a full-on vacation. Not only is it satisfying to see, but it helps if there is an expense you have to pay far in advance. 

     For example, certain resorts require an initial deposit to be paid within 30 days of booking. But, what if your arrival date isn't until next year? In that case, it helps to have a little bit extra in your savings to cover that expense and reserve your slot. This could also be the case for flights that you book in advance or even Airbnb reservations. 

Concluding thoughts:

     Hey guys, I hope you found a few points you can take away from this blog post. If I think of anything more to add, I’ll make sure to update this. However, I feel like these are some of the basic things that have helped us to take on the adventures we’ve been able to take on. 

      I hope you are also able to create your own adventures soon! Thanks as usual for tuning in. And feel free to browse around my blog to see other travel tips and suggestions!