Wherever you dream of going in the world, one of the biggest challenges is getting the cash for your trip. You need some money to be able to travel. It doesn’t have to be big bucks, not every trip needs to be first class and five stars all the way. But you will need some money, so if you are serious about going – how do you save for it?
Get clear on your financial goal.
Work out how much money you need to save for your trip. How much will the flights, your accommodation and food cost? This is your minimum. What would you like to do while you are out there? Any special trips/ tours/ retreats? What is your total for the trip? You can adjust your plan for the trip until you get to a total you feel comfortable with, for example if you cut out the hot air balloon trip so you can save yourself $350 and go sooner.
Breakdown your big financial target into a monthly target.
To do this count the number of months from now until your intended departure date. Divide your financial goal by the number of months to get a monthly target. This is the amount you need to save each month.
If it looks wholly unrealistic, you need to modify.
There are three ways you could do this. One, you could extend your departure date, so you have more months to save. The more time you’ve to save, the smaller the amount each month, which makes it more viable. Two, make your trip cheaper, this reduces your financial goal. You can do this by finding cheaper flights, by staying in cheaper accommodation etc. Thirdly, you can decide to earn more money, so you can save more money. This could mean going and getting a second job in the short-term.
Transfer to your saving’s account.
Have a travel savings account that you siphon off 30% of your wages to every month. This will help you save faster for your trip.
Make sure you hit your saving target each month. If you want more hints and tips on how to be successful, sign up for Adventurous Spirit a four-week online course. This course will support you in planning your own trip. There’s guidance on what to do and how to do it, but more importantly on busting your solo-traveller fears. Each week there’s a group call to answer any specific questions.
Is time to save for your dreams? Where will you go first?