How to Save Money for Traveling
“How can you afford to travel like that?”
“How can you afford to travel like that?”, is probably one of the most frequently asked questions I get when I tell people that we travel internationally as a family every year. There are so many parts to that one “simple” question. Everyone has things in life that they are passionate about (or at least everyone should!). Saving for what we are passionate for is easier because it is truly a goal we are working for. At times saving for travel can be hard, but it is sooo worth it in the end!
Here are a few tips that we use to save money for our goal, traveling the world!
1. Every time I go to purchase something I almost think of it as, “Wow this could be a night at a hotel” or “this money could go towards a plane ticket”. There are many things I pick up to purchase but when thoughts like that play in mind that item seems to find its way back on to the shelf. Cutting back on the “wants” and trying to only buy the “needs” will make a cushion to save more money for traveling. Even if it’s just $10, EVERYTHING adds up!
2. Start a Travel Savings Account, NOW! – Even if your dream trip isn’t for 2, 3, 5, or even 10 years away, open a savings account at your bank that will be your travel savings account. Look at your monthly budget and figure out how much you could be depositing into your savings account each month or each pay period. No amount is too small, it will add up quickly! Set it up for automatic transfers and forget about it. Then when you are ready to start planning for your trip, you will have a nice chunk of money to pay for it. My husband started this 10 years ago and it has been so essential in our ability to pay for our travels.
3. Find a credit card that will help you earn a free trip (kind of)- Credit Card Points –(**Disclaimer: Please use credit cards responsibly. You will never be able to truly enjoy traveling if you are constantly worried about the debt you will be going home to!) Find and use credit cards that will earn you free travel points. We recommend Chase Sapphire Preferred or the Chase Sapphire Reserve card. IT HAS COMPLETELY CHANGED THE WAY WE TRAVEL!! With the Chase Sapphire Reserve card, you earn 3X points on all things travel: flights, hotels, trains, taxis. You also earn 3X on all restaurants. And one point on everything else. You DO have to pay an annual fee on the card but you also get a $300 travel credit that is automatically applied so I feel like the fee is a wash. The other huge benefit is travel insurance that comes with the credit card. When London had the awful terror attacks one summer, we had to change our flights from London to Dublin, we received a full refund through our credit card for our London flights. That was huge! There are so many other benefits to this card, check their website for all of the new and updated benefits. If you are interested in signing up, let us know and we can send you a referral link. Using our points we have flown to Italy, Iceland, Ireland, London, Thailand, Hong Kong, and Japan, all without spending a dime! This card has made us change the way we think about travel. Crazy airfares to far off destinations don't scare us away anymore. We have learned to play the points game. The travel that seemed to be only a dream has become a reality. I'm totally not trying to be an infomercial and of course I'm not getting paid to say any of this but I truly wish someone would have shared this info with us years ago!