Planning for a trip is never as easy as it sounds. If you want to plan a decent trip and have the best possible experience, you need to have enough funds to sponsor your travel and the experience that follows.
For this to happen, you need to sort out your savings first. If you have a tendency of spending your money as soon as you earn it, it will be difficult for you to finance your trip.
You need to save money to account for expenditures you will have to make during the trip. This is why you need enough savings to acquire money for funding your trip. Here are some of the quirkiest ways by which you can save money for your upcoming trip:
- Having The Best Savings Plan
It is always good to have a decent savings plan when it comes to saving money for your trip. A good savings plan will generally involve five basic steps.
First, there is the assessment phase. Compare your trip plan to the reality of your current financial situation. Make sure that it is feasible and you are not dreaming too big. Then, set your goals according to your objectives and realities. Your savings plans should comprise of both long-term and short-term goals.
After setting your goal, have a set plan for your savings. This savings plan should compliment all your goals and it should be in sync with your objectives. This could be done by cutting off unnecessary expenses, coming up with a strict spending budget or adding additional income to meet your goals.
Next, you need to implement your plan and monitor the same for checking its efficiency.
You can also see if you have any mis-sold policies to add to your savings. If you have taken a loan from your financial institution in the past, there is a high chance of you being wrongly sold a policy, such as Payment Protection Insurance.
If you are into the investment market, you can also be mis-sold an investment. In such cases of mis-sold PPI and mis-sold investment, you can ask for a compensation that would ultimately add to your overall savings.
Commit To Your Travelling Dream
Before saving money for your trip, you should sit back and think about the core purpose of your trip. You should concentrate on the dream you have of travelling and the purpose behind it. You may want to be an explorer and explore the lesser known areas of the world. You may want to visit a certain part of the world and explore it. You may also want to travel the world and not leave any place unexplored.
Put a picture on your room’s wall or a map with strings and pins to mark the places you are committed to visit. Saving money can prove to be a slog, but anyone can do it if they are motivated to save and spend it wisely. Once you are sure about your commitment to your dream to travel, you can then reduce your expenditures in order to increase your savings.
Also, if you really want to increase your savings, you can simplify your life for a few days. Attend fewer parties. Eat simpler food and spend less on unnecessary luxuries.
If you have older items with you that look good but are of little use to you, you can also sell them and add to your current savings. You can finally get rid of extra stuff and make money by selling the same. You need to get into the habit of frugality. If your needs and desires are taken care of, you don’t need to worry about anything else.
- Assess Your Expenditures
If you are not keeping a track of your expenditures, your company treasury will drain out before you know it. It is extremely important to know how much money is going out of the system on a periodic basis. For this, it is advisable to maintain a spreadsheet listing out every single one of your daily expenditures. Organise the same in two columns: needs and wants.
As time passes, start eliminating the wants and stick to the needs. You will see a positive change in your company’s savings.
- Come Up With A Dedicated Travel Fund
If you are ignorant to the amount you are saving and want to have a record of every penny that you saved, open a separate travel fund with your bank. Opt for a new account specially dedicated to your travel desires. Add money into the account on a regular basis and try not touching the same when it comes to withdrawing money.
Make it easy to transfer money from other accounts into this account and vice versa. Have enough flexibility and mobility in the account so that you are able to manage both the accounts smoothly.
- Reduce or Eliminate Your Car Usage
In certain cities, it is almost impossible for people to live without a car, unless they live in the biggest of cities or if the commute distance is far too long.
You can also acquire money by reducing the use of your car, or by simply selling it! As you reduce your car usage, you save a lot of money on fuel, which can be otherwise used for funding your trip.
Car-pooling is another option worth considering. You not only save money, but also save the environment by using lesser fuel.
- Bring Down Your Utility Bills
The simplest way of saving money is to reduce your regular utility bills. Put on your favourite sweatshirt and keep the heat in your living room low. Open windows to let the fresh breeze in and use less air conditioning.
This is the area where you can save as much as you want without depriving yourself of anything. You can avail the same facilities at lower cost (and a little compromise), while saving the extra money to fund your dream trip.