10 Tips to Save Up for Your Next Trip Abroad

Travelling the world is something many dream of, but never do because of money matters. Money does not have to be a reason to not fulfill your dream. With the right strategy, you can save up enough money to start your adventure and go and see the world. In this blog, we share 10 tips on how to save up for your next trip abroad.

#1 Analyse your current financial situation

The first step in order to save up for your next trip abroad is to analyse your current financial situation. Have a look at your bank statements and analyse your spending behaviour. Write down everything you have spent money on in the past three months and create an overview of the current situation. This helps you to see where you are currently standing.

#2 Cut the costs

Once you have gained an overview of your financial situation, it is time to cut the costs. Almost everybody has costs that are not necessary or that could be reduced. Think of subscriptions to entertainment services such as Netflix or a phone plan that could be reduced because you are not using as much data as you are paying for. Once you have cut the costs, put the money you are saving by doing so into your savings account.

#3 Create a vision board

It is easy to lose motivation while saving up money. Therefore, creating a vision board can be a great idea to stay focused on your goal and to effectively save up for your next trip abroad. Create a beautiful mood board of the destinations you want to visit from the money you are saving up and put this vision board somewhere you can see it every day.

#4 Automate

Another step to effectively save up for your next trip abroad is to automate savings. In most bank accounts, you can automate bank transfers and link them to specific dates and saving accounts. Therefore, select a specific amount that you would like to transfer to your savings account automatically every month and try to avoid touching that money. 

#5 Unsubscribe from newsletters

Oftentimes, we purchase unnecessary products because we were triggered through marketing to do so. By unsubscribing from newsletters, you can remove those triggers. Also, reducing the amount of ads you consume can positively impact your spending behavior. Try to install an ad blocker in your browser in order to avoid marketing as much as possible.

#6 Sell stuff you don’t use

A quick win with regards to saving up money is to sell everything you don’t use anymore. You will be surprised to see how much stuff is collecting dust on your shelves. Therefore, inventarise what you currently don’t use and sell it on platforms such as Ebay or Facebook. Put the money from those sales into your savings account.

#7 Pay off debt

The biggest money leak many of us are struggling from are debts. Therefore, your highest priority to save up for your next trip abroad is to pay them off. Start with paying off the smallest debts. Once you have paid them off, put the extra money you are saving from those debts towards paying off higher debts. This way, you will let go of financial burdens before embarking on your trip! 

#8 Establish a budget (and stick to it)

Once you have clear insights in your current financial situation and are able to save up for your next trip abroad, establish a monthly budget and stick to it. This is the best way to avoid splurging money on unnecessary things and makes you more conscious of your spending behavior.

#9 Stop impulse buying

One of the greatest strategies to save up for your next trip abroad, is to stop impulse buying. Most unnecessary purchases occur straight after we were triggered through marketing. Therefore, try to stick to this rule: Whenever you feel triggered to purchase something, think about the purchase for 24 hours before doing it. If you still want it after 24 hours, chances are most likely it is not an unnecessary purchase. If you forget about it, you just saved some money.

#10 Shop the best deals

Obviously, it sometimes is crucial to purchase items. If you have to purchase something new, try to shop the best deals. Compare prices and go for the cheapest option instead of buying the first thing you see.

Good luck with saving up for your dream trip

Hopefully, you will be able to save up for your next trip abroad very soon. With these tips, we are sure that you will succeed. If you are looking for cheap ways to travel, you may want to have a look at what we have to offer at FairestBnb. We connect volunteers with hosts from all over the world. In exchange for your skills and help, you get a free stay at your host’s accommodation. Have a look at a few of our international hosts who can’t wait to welcome you!