Are you planning to book a working holiday but don’t have the funds to support your journey? Then don’t worry we’ve written up a few money saving tips that will help you fund a journey of a lifetime! Many people assume you have to be rich to travel, but truth is if you speak to travellers you’ll see that most of them saved up money through smart ideas that meant they had enough to quit their job and travel. If you’ve booked or are thinking of booking a working holiday then you won’t have to worry too much about running out of money once you get there since you will be working on a salary. However to travel and live abroad you do need the extra cash to help you settle in and get by.
Saving for a huge trip can be a struggle, here’s a few tips that might help it make it a little easier:
Open a dedicated bank account
One easy and essential way to save up for your holiday is to set up a separate savings account for your travels. You can open up a savings account at your local bank but an online bank would be more ideal so you’re less likely to withdraw money. If you have a job then make sure you split your finances so some of your monthly salary can go towards this holiday account. Once you’re on your travels this account will help to keep you on budget during your trip as it’s the easiest way for you to keep track of how much you’re spending abroad.
Sell your unwanted stuff
It may seem unwanted to you but one mans trash is another mans treasure! If you have items at home that you know will sell but you can’t take along with you on your journey then sell it. Selling your stuff is one of the fastest and easiest ways of making some extra cash. Go through all your stuff at home and sort everything out until you have a pile of unwanted goods. There are plenty of apps and website that are available for you to sell your stuff on. If you drive a car and you’re travelling longer then a year then sell that too. When you sell that car not only will you make money from it you will also save money from not paying insurance and petrol money.
Live on a budget
Sort out your finances and start writing up weekly or monthly budget that will help you reduce everyday costs that all add up in the end. Find out how much your trip will cost and what are the average prices of things such as travel and shopping in the country you’re about to visit. Based on this you can draw up the specific amount you will need to be saving each month for it to be enough for your travels. Budget effectively so you don’t worry too much at looking at the numbers when you’re out and about. If you’re doing your weekly grocery shopping then buy in bulk this will enable you to start saving a little more on each grocery trip you go on. Don’t buy stuff you really don’t need like sweet treats, not only will you save money you’ll also keep your health in check.
Don’t use your debit or credit cards
This links back to your budgeting, when you’re going out especially with friends make sure you with draw cash and do not take your cards with you. Most of time when we’re with others we tend to overspend without realising over food or drinks or even extra snacks when going to the movies. when you take only cash you will be more careful and aware as to how you’re spending your money.
Reduce housing costs
Housing costs are the most expensive and pretty much blows any budget. Why not look for a room to rent and stay with a housemate, this way you can split the rent and bills. Or why not move to a cheaper area with a cheaper rent, the area may not be the most appealing but right now you need to think about saving to get out of here and explore the world.
One of the biggest expense for anyone is eating out, especially if you live in a city like London where on average you could be spending up to £30 a day on food and drinks. So now is a great time to learn how to cook! It’s highly possible to buy your own low cost healthy ingredients and cook your own tasty meals at home.