Wably Travel

How To Pay For Your World Travels

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Travel the world monument concept

Image: potowizard/Shutterstock

So you dream of traveling the world, seeing different sites, learning about various cultures, and maybe making new friends? Sounds fantastic! But there is just one important issue that cannot be overlooked in order to fulfill your dream- saving money. With all the bills we pay for food, clothing, and other essentials, putting aside money for traveling the world can be a daunting, if not impossible, task. But with careful planning, you can do this and travel where you want. Here are some useful tips to help you put aside money easily and regularly.

  1. Open a dedicated travel fund. Open a new bank account that you can fund for travel. After assessing your finances and expenses, set up a system of putting money in this account. You could put money in it monthly, weekly, even daily, or whatever suits you the best.
  2. Reduce your expenditures by cutting down your “wants.” Think long and hard about your expenses and what you spend money on. Do you really need to eat out every day? Do you absolutely need to buy a new pair of expensive shoes every few months? Do you need to go clubbing every weekend? Can you save money by doing your laundry at home rather than getting everything dry cleaned? These are some of the things you can think about and cut back on to save money. There might be lots and lots of other things that you can go over and spend less on. All the money saved by cutting your expenses goes right into your travel fund.
  3. Earn extra income. Taking on a second job can greatly add to your savings regularly. There are always companies looking for part-time help, especially for shifts during odd hours. You can even try to find work online that you can do from home in your own time.
  4. Sell things you do not need. While you are thinking about cutting down expenses, you will find there are things you own that you do not have a need for anymore. Say you do not have time to watch TV since you are working two jobs, then you no longer need to have cable TV. Cutting cable will help you save money every month that you can easily divert to your travel fund.
  5. Simplify your life and get into the habit of frugality. There are a lot of other things you can do to increase your savings even more. Instead of the gym membership, you could start running/exercising outside for free! Instead of buying books, make a habit of borrowing from the library or from family and friends. Use coupons to buy stuff you need- you’ll be surprised how much you can save with coupons for each trip to the grocery store or even to department stores. If possible, you could even move to a smaller apartment or rent out a room in your current one. These, and other creative ways to live a simpler life will help your savings grow.