How to Financially Prepare for Your Next Big Trip

Traveling can be very expensive, especially if it’s a really big trip. But that doesn’t need to stop you from taking your next adventure! There are ways that you can help to prepare financially so that you’re able to take that trip you’ve been dying to go on!

Create a consistent savings plan for traveling.

If you open a short-term recurring deposit account set aside specifically for your travels, you can save for trips a bit easier! If you have that money in a separate account, you won’t be tempted to spend it on other things, and you can use the money you accumulate in that account for your next expensive trip that you didn’t think you’d be able to afford. If long-term saving is not an option consider a low-interest personal loan. This way you can take the trip right away and start savings plan to pay off the loan without the crazy added interest of a credit card.

savings, money saving, travel fund, save money

Image: Flickr

Stay away from online shopping.

When you’re spending too much money on your online shopping addiction, it might also be hard to balance with your travel bug. Online shopping is such an easy way to drain your money quickly, mostly because it’s so easy to just click “buy” on your phone or computer.

To get rid of the urge to shop online, delete all the shopping apps from your phone, and unsubscribe from any promotional emails that may cause you to impulsively shop online. You can also clear your browser cache and cookies regularly to get rid of targeted advertising by e-commerce sites! No more late night shopping!

Control your expenditure by living a simpler life.

If traveling is your priority, try to understand the difference between “want” and “need”. You’re going to need to restrict your expenses if you really want to be able to afford the next trip you’re planning! Avoid eating at more expensive restaurants, and refrain from buying clothes you don’t need. Every time you go to buy something, ask yourself if you really need it, or if it’s just another impulse buy. Remind yourself that whatever money you would be spending on your wants could be going toward your next trip! Try to pick up a hobby that can help you get some extra cash, like freelance writing online!

With these tips, any trip is possible! Don’t let finances get in your way of your dream to travel! Now get saving, and happy traveling friends!

travel tips, savings, travel fund, savings for traveli


A Guest Post by Jamie Wharton

Jamie is a Social Media Strategist for Earnest. She has a passion for finance and enjoys educating others. Her main goal is to help build a brighter financial future while making finance friendly for everyone. When not working you can find Jamie surfing the web while sipping on her latte.

Advertisements

10 thoughts on “How to Financially Prepare for Your Next Big Trip

Share your views on the post

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s