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Tips on How to Save for Upcoming Travel

How to Save for Future Travel

Whether you are traveling for school, with friends, family, or solo: there is so much that goes into planning for an upcoming international trip. We here at Globally Abroad want to help make the process easier for you! One of the biggest challenges and stressors to plan for is knowing how to save for your trip. Below we have offered some helpful tips and tricks to make saving up fun and easy! Here you’ll learn how to save for future travel.

Make a spreadsheet!

First and foremost, organize yourself! Saving properly all stems down to having a plan and knowing what you need to save for. Once you know the places you want to go (and how much extra spending money you think is REASONABLE for the trip) then a spreadsheet can help you organize not only how much money you need, but where that money may be going. The latter helps you weed out certain activities and determine whether or not they are worth their price.

Bonus Tip: Airtable is a great online-based spreadsheet tool that helps make creating ten times easier.

Know What You Want to Spend

We think this is the most important step to saving money that many people forget! If you know where you want to go (i.e. special tours, museums, activities that involve a price), it will help you realize just how expensive the experience is.

50/50 Rule

The old and reliable rule of whatever you earn, save half. It helps to add up your savings quickly and if you don’t have the extra time to plan or coordinate, this will ensure that by the time you take off, you’ll be set to spend to your heart’s desires!

5 Dollars a Day

This tip is for those that feel as if they need to be saving everyday! Five dollars can go a long way, so saving up is just a matter of shifting money aside. Instead of grabbing some coffee or a quick bite, save up for the coffee you will grab while you’re exploring abroad!

Save More

At the end of the day, it is NEVER a bad idea to save more than what you need. Once you have all the activities planned and your budget down, I suggest adding an extra $300 on top of whatever you were planning to save. Think of it as a buffer, or an “in case of emergencies” cherry-on-top that will make sure you feel as prepared as possible.

 

Overall, when it comes to saving money, get creative, get organized, and get it started!

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