Have you got a good strategy on how to save up for your trips? For me, it's pretty basic - I have a separate account from the one my pay goes into, and I put a fixed amount into that account automatically so that the account just grows without me really having to think about it. I like that it's an automatic transfer because literally as soon as my pay goes in, the amount goes into my travel fund and I don't miss what I don't see!! Do you have any good advice for sharing how you save for your travels around the world?
This is exactly what I do. I have my check set up to deposit mostly into my checking account with a small percentage set up to deposit into a savings account. I thought I would miss that money when I first set it up but now I don't even notice it "missing."
I plan for my trips and save up for them in advance. I don't have automatic transfer but I'm liking the idea. Months in advance I already book the cheapest promo flight, plan the sights I want to see and build from there. I save as much as 20% of my pay for these travels.
I have a slush fund where any extra money I have goes into it. I just deposit it and don't look at it until I need to. That way I'm not tempted to spend it on new things instead of my trips.
I just divide up my earnings into three parts: one is for necessities, one is for savings and one is for travel. So you could just imagine how little these divisions are, lol. But I'm okay with it as long as I'm able to save enough for my savings and travel. It's really difficult to save up but once you get the hang of it, you will really be thinking twice about every purchase you're about to make. I would rather have the necessities, scrimp on the unnecessary things and have some savings.
That's always smart -- I find that some of the best deals I've managed to get on flights have been the ones I've booked well in advance - you can often snag a good deal with a lot of those promotional sales! I've actually picked some rather random vacations using that method - places I never thought I would see, but there were cheap flights so I went - and they've been some of the most fun vacations I've ever had!
I'm fortunate to be a frequent flyer, so I'm able to use all the miles I rack up in the air to go towards my flight and even my hotel(s). Even if you don't fly, most airlines will offer a card which to various methods will help you save big on your flights. Although, this does force me into flying with one airline with one rate. Otherwise, I've found a unique way of wangling myself a tasty little deal with a travel agent. As travel agents are often external from the tour operators, even if they share the same name, they will want to sell as many tickets as possible. Thus, if a trip is about to go and all the seats haven't been sold, the salesmen will get higher commission for selling these deals. This is a trick worth trying for impromptu trips, even though it may leave you with a less than appealing package. There are some great deals to get!
Well that's a brilliant tip - I will definitely remember that one! We must all be from the same 'trip planning tribe' as I also put money aside automatically every month when my wages are paid into my account. I was doing really well until my car pretty much blew up one day and all my carefully saved money had to go towards replacing it (I need one for my job). So I started again and am almost back up to the amount I had originally.
I'm a bargain hunter through and through, so this definitely appeals to me! I think sometimes impromptu trips are the most fun - it's like a lucky dip where you just don't know what you might end up with. To me, that level of spontaneity puts me in vacation mode right away!
I don't have that much spare money that I can afford to take it out of my check or anything, but I save up my change. People don't realize how quickly it adds up.
That's true. A large piggy bank could amount to hundreds of dollars already. That's pocket money right there. Me, I do odd jobs online like teaching, and the money that comes to my account is not to be touched. It's separate from my account for expenses and stuff. That auto-debit tactic is a great idea too. I've heard people do that for their investments as well.
A second income source is a really good idea too - and just dedicating all that money to something you're saving for means that you really can just let it accumulate and forget about it! I probably need to look into that myself, and just solely dedicate one source of income (like odd jobs/babysitting for friends etc) to that fund!
Can you really save a lot of money with frequent flyer points? I love the idea of saving by booking last-minute trips. Helps you save money plus it helps the salesman make a buck or two. Everybody wins.
How many months in advance do you typically book? I'm curious as I don't usually book until the month of. How much can you really save by booking further ahead of time?
I'm not the poster, but normally the best deals come around 6-12 months from when the tickets were released. There are also often certain days or month cycles where airlines/tour operators release the next cohort of tickets. This normally depends from company to company.
To help me save, I usually book a flight at least a year in advance. Somehow, buying the ticket first gives me enough encouragement to save. Since I'm frugal, I don't want to get the ticket go to waste. Anyhow, what I do is get a portion of my income and place it in my travel fund. Every time it reaches a certain amount, I immediately convert it to U.S. Dollars. As USD is not my country's currency, I don't get tempted to spend it. Having a second income is also another way for me. Unless needed, I don't touch the money that goes to my PAYPAL account.
The automatic transfer is a good idea but has never seemed to work out for my partner and me, as it gets spent on something else, it has happened twice to us so we don't totally rely on the money in the additional account. We both know we need holidays and just go with the flow, cut out of the expenses we don't need and we automatically know we have saved some money and basically look out for offers and deals, quite simple and easy.
I do online jobs as well, but those normally pay for children's birthdays and things of that sort. I guess it's also a lot easier to travel and to save up money when you don't have children at home. Ha.
My best friend is the same way with buying her plane tickets in advance. She doesn't want to waste the money that she spent on them, so she forces herself to save up money for the rest of the trip. Then again, she doesn't go out of the country, but it can still be fairly expensive to visit big cities in the United States.
Last minute flight bookings are a great way to get your flight cheap. Friends have booked flights to other countries the week before they leave and go fantastic price breaks. If your the type that's able to leave with a week or less notice you can take advantage of seat sales.
After my expenses for daily living are taken care of, I have a way of doing it to where I put 15% away for savings and 35% away for my upcoming trip and travel expenses until I have enough with some extra to cover unexpected expenses. The other 50% goes toward daily living, and any portion of it that I don't use that month gets placed into my savings account. So it varies between 35% to 50% on average and however much I don't spend on living or lifestyle each month.
Well, the United States is one big continent in itself (North America) - so it's understandably a huge territory even for Americans to explore, too. It's a lot similar to my country the Philippines (of course, we're not a continent) but we're composed of more than 7,000 islands, and I haven't even covered at least 5% of the entire Philippines. I believe even the locals of India face the same issue. India is also a big country that there are too many places to explore. I was just reading a thread that covers at least 20 different places to explore - and the list was just in and around the capital of New Delhi. So, yeah - if we've to cover all these places a RIGHT DOSE of DISCIPLINE to save money for these trips is definitely a must.
I have a savings account just for extensive travel plans. I pay for the smaller trips (long weekends) with cash, but the larger trips that are going to cost several thousand dollars are paid for with the savings account.
What I try to do is save $50 each payday and then use half of my tax return. I put this money into a separate account I never touch. When I have enough saved I start thinking about where I want to go.
After paying my bills and spending on groceries, gas and other necessities, whatever left goes to my saving account. I use this saving money during the rainy days or to travel or invest in properties.
For basic savings, I set a fixed amount aside every paycheck. To be honest with you, I never considered creating a separate savings account for my travels. Usually, any sort of savings goes into one big "bucket" - nothing separated. I really fancy the idea of using a small percentage of my paycheck to be specially used for traveling expenses. I think by doing that, it will grow slowly and steadily, making it more of a savoring experience by only going on a trip once every couple of years. Exciting!
All the savings plans, tips, and tricks listed here are great. I've just never been able to set aside anything, with my monthly expenses so high. The only time I travel is when a big sum comes my way, like a gift or inheritance.
That's when I first started traveling, when I was 18 and I got a small sum of money from my grandmother. That gave me the travel bug, so now I save all my spare bits of cash in a separate account. I would like to make it a regular savings from my paycheck, but I'm not quite there yet.
I put a certain amount aside each month in my savings account. This amount is for emergencies or travels. I am planning to go to Delhi in March for World Culture Festival and I am saving money for that.
Well, I've been saving all of my life; it's not a difficult habit to get into! I work two jobs, covering seven days a week and come home each night to earn more money online. In this way, I've paid off my tertiary education fees (electronic engineering for four years, plus my two languages at Adelaide University), paid for each second hand car I've ever had and then paid down the mortgage recently. I'm quite happy to stay at home and make improvements here to minimize all my ongoing expenses. I prefer not to travel and will only go when I have a driving need to do so or if I'm funded by an external source. I will be visiting India soon. I will meet a good friend who is returning to his homeland after a lengthy stay in China as an ambassador. I'm hoping also to meet Prime Minister Modi, if possible, but as he is such a busy fellow in these interesting times, to be present at even one of his speeches will be sufficient for me!
