Going travelling is great, you learn so many new things and meet new friends. But travelling costs money. So Beau has written this post to give you some tips on how to budget for your next adventure.
No matter what is going on in the world, everyone deserves to enjoy an adventure every once in a while. Whether that is going to the local waterpark or across the world on a European getaway, if there is something you dream of doing, you should do it. However, there is one hurdle that we all must cross, and that is having the money to make it happen.
The good news is that with proper planning and an effective budget, you can find the money to enjoy these trips. Here are some tips to make that dream getaway a reality.
Make a Budget
Before you can start to determine how much money you will have available for your adventure, you will need to take a good look at your income and how you are spending it. A simple budget can help you do that. Look at how you spend your paycheck, from utility bills to Friday night dinners, and see how much money you have left at the end of the paycheck period.
Now, consider your expenses and cut out the extra costs that can be easily avoided each month. You don’t have to go out for coffee every morning. Instead, brew a thermos at home that will last you all day. Some people go out to lunch every day. Instead, make a sandwich and bring a bag of chips or some trail mix, and the savings will start to add up. You could save money on petrol by carpooling, and you can eliminate that expensive cable bill by signing up for a cheaper streaming service.
The sky’s the limit for how you can save money if you sit down and think about it. What is essential, and what isn’t?
While you are saving money, continue paying your bills on time, as this is exceptionally important. For one, you will keep the lights on and the home heated. Not only that but keeping current will also help to increase your credit score, so you will have better finances when you plan that extra special getaway in the future. A good credit score might also help you to secure a credit line if a trip demands it.
If you’re looking for where you can cut down your spending check out my Tips for Saving Money for Travelling
While creating a budget will lay the groundwork for your savings, you should put some ideas into action so you can start saving now. To add enough money to your travel fund, you need to set a financial goal for the particular adventure you have in mind. How much do you believe the trip will cost? Save a bit more than your goal just to be safe.
One way to have money when the time is right is to set up a savings account meant only for this trip. To ensure that you add enough each month, set up a direct debit so that a suitable amount goes directly into your savings account when you are paid. If you can put 10% each month, that’s a good start. To help your earnings grow, use a high-interest savings account of 1% or higher and get added interest that can add up to a dinner out during your trip.
On a smaller scale, you can get an actual piggy bank and put your change in the slot at the end of each day. It may not seem like a lot at first, but over time, this change could add up to a pair of tickets to a show or the cost of entry at an amusement park. You should stick with using cash for most purchases anyway so you can only spend what you have and not rack up credit card debt.
If your next big adventure is a long way off, then you can have some mini-adventures in the meantime. These little trips and experiences will add some spice to your life and break up the routine of work. Best of all, they are inexpensive so you don’t have to take away from your big goal.
Camping is a fun idea where you can combine many activities without breaking the bank. Find an inexpensive campground and pitch a tent. While you are there, you can go bike riding, have a campfire, explore nature, and many other fun activities that are either low cost or even free.
Even the simplest activities can create the best memories. Take a trip to the local park, have a picnic, and watch the sunset. Search online for things to do around your town like a flea market, zoo, or see if a local sports team is playing. In the end, the point is not how much money you spent, but the memories you made with those you love.
If you are looking to have an adventure, but you are concerned about money, you no longer have to fret. Follow the above tips on how to budget for your next adventure, and you will be having fun in no time.