17 January 2017
Ever complained about not having the money to travel? Is that really true? See our 7 suggestions below that will help you save the money you need and 7 things to do while you are travelling to make the most of your funds.
Before you start, make sure your finances are in order. Check what money you really have and what you owe so that you set realistic expectations. Any debt on your credit cards could cost you anywhere from £10-£100 a month. By avoiding mounting interest rates that you can accumulate by only paying off monthly minimum amounts on your credit card, you could avoid count on £100’s extra per year.
If you have a specific trip in mind, find out how much money you need and work out a savings budget to achieve it. Also tell everyone your plans. You will more committed to achieve it if you’ve announced it to the world! If your trip costs £2,400, you will need to save, £200 per month or £6.70 per day! Now all you need to do is work out how to achieve that.
Have a money jar, tin, envelope…anything at home where you add money for your trip and store safely. Keeping a container for coins handy is a great idea. You will be amazed at how quickly this small change adds up if you routinely throw your coins in. Even 70p each day will add up to over £250 a year. Create a new savings account and set up automatic transfers every month. Whatever method works for you (it will depend on your timeframe too), but make an effort to save.
Stop spending money on unnecessary little luxuries. Give up that Starbucks or Costa coffee each day and save it for a treat. Now that you are saving with a goal in mind, see if you can get rid of any bad habits e.g. smoking. It will save you a fortune and improve your health.
Its much cheaper and better for you! Most supermarkets provide great ideas on how you can cook quickly and easily on a budget, so take advantage of their research save yourself a fortune (whilst improving your cooking skills!). Plan your weekly menu avoiding ready meals and takeaways. You could easily save £50 per week, or £2,600 per year.
Driving short distances is bad for your car, your health and your pocket. If you walk instead, you could save up to £25 a month. That’s £300 per year and you will be fitter too.
Anything you can do - baby-sitting, dog walking or lawn mowing etc.-depending on your skills. You could charge £10-20 a week, if you get regular customers it could give you an extra £520-£1,040 a year!