Subscribe Now

travelers today

Home » Travel Tips

4 Ways to Start Saving Money for Future Travels

Travelers Today       By    Staff Reporter

Updated: Sep 27, 2020 01:03 PM EDT

Text Size: A A A

4 Ways to Start Saving Money for Future Travels
(Photo : pixabay)

With the coronavirus pandemic putting a halt on major travel plans, now is the time to begin saving. While we can't predict when the current state of affairs will return back to normal, one thing we do know is that this won't last forever. That means you'll be able to continue on with your bucket list and check off all of your must-see destinations.

However, traveling isn't cheap, and it requires a lot of planning and money to make it happen. If you have your eyes set on a dream getaway, now's the time to begin saving. Take a look at our top 4 tips for saving money for future travels below.

1. Create a Budget

When saving up for anything in life, whether it be a dream car or your first home, you need to create a budget. The same goes for traveling. Going on vacation isn't always cheap. Hotels, plane tickets, rental cars, food, activities, tours-these are just some of the expenses you need to budget for if you want to have an enjoyable and stress-free vacation.

To ensure everything goes to plan, start budgeting for your trip at least six months to one year ahead of your departure date. One of the most popular budgeting methods is the 50 30 20 rule. This rule goes as follows:

- 50: Each paycheck, 50 percent of your earnings goes toward essentials, such as rent, utilities, car payments, food, and transportation costs.

- 30: Each paycheck, 30 percent of your earnings goes toward wants, such as entertainment, going out to the bar with friends, clothes, your cell phone plan, coffee, and any subscriptions like Netflix.

- 20: Each paycheck, 20 percent of your earnings goes toward savings and debt repayment, such as student loans and retirement plans. This also means savings for your future travels.

With this budgeting method, you can easily begin saving up for your dream endeavor. In some cases, you may be able to save a little bit of extra. Rather than dedicating 30 percent of each paycheck to your wants, try bringing it down to 25 percent or even 20 percent, and put the extra 5 or 10 percent toward savings. Going a few months without Starbucks coffee or an expensive drink on the week will be worth it when you're traveling the streets of Rome or hiking up Mount Kilimanjaro

2. Pick Up a Part-Time Job

Depending on your obligations and current schedule, you may have time to pick up a part-time job. There are plenty of businesses looking to hire part-time workers, especially on weekends. While you may not like the idea of spending your Saturdays and Sundays dealing with customers, the wages earned from those few hours of work can seriously add up. Then, once you take your vacation, you can leave your part-time job and stick to your day job! There's nothing wrong with working for a few months or years, companies are always hiring, and it's just the reality of business. Some part-time job opportunities you may want to look into include:

- Restaurant servers

- Retail workers

- Farmworkers

- Babysitters

- Dog walkers

To find a part-time job, look through ads in your local newspaper, job postings on career sites like LinkedIn and Monster, and "Now Hiring" signs on businesses located in your area. 

3. Freelance

If you want a more laid-back schedule compared to picking up a part-time job, you may want to consider freelancing. With freelancing, you can choose your own hours, which means you can easily have a weekend to yourself if you need it. There are numerous freelance sites where you can pick up contract work, such as Fiverr, Upwork, and TaskRabbit. Some freelancing ideas include:

- House cleaning

- Content writing

- SEO strategy

- Landscaping

- Web design

- Marketing

- Accounting

- Web and mobile development

Whatever skill you have, you're sure to find a company or individual willing to hire you for your services.

4. Monetize a Hobby

Working isn't always fun, but if you have a side hobby that brings you joy, you may be able to monetize it. Sites like Etsy and Shopify make it extremely easy for artists, designers, and other creatives to sell their products to the masses. Whether you love pottery, drawing, digital design, or woodworking, these online store sites can help you make money from your side projects.

Wrapping Up

Vacation is a time to relax and unwind. However, finances can be a major nuance when it comes to planning for your travels. To ensure money doesn't get in the way of your enjoyment, plan ahead and begin saving. With these four tips, you'll make unforgettable memories that will last a lifetime on your next adventure.

See Now: The U.S. had the highest number of Most Wanted properties, dominating the Hotels.com Loved By Guests Awards 2018

© 2021 Traverlers Today, All rights reserved. Do not reproduce without permission.
Join Our Conversation

Subscribe to our newsletter

Receive the latest travel news, reviews, and more..

Most Popular

How to Make an Old Car Feel Like New Again

How to Make an Old Car Feel Like New Again

Those who enjoy long road trips put a lot of stock in the

6 Tips for Planning the Perfect African Safari Trip

6 Tips for Planning the Perfect African Safari Trip

For the perfect safari trip, plan in advance, pac

Must-See Places That Makes US a Tourist Paradise

Must-See Places That Makes US a Tourist Paradise

The United States of America is a popular tourist de

Breathtaking Places to Travel Before you Die

Breathtaking Places to Travel Before you Die

A life well-traveled is a life well-lived, for memories

13 Ancient Egyptian Symbols and Their Meanings

13 Ancient Egyptian Symbols and Their Meanings

There are various historically significant Egyptian sy

Air Travel Tips for the Self Employed

Air Travel Tips for the Self Employed

2020 was the year that the COVI-19 pandemic impacted the world'

Common Travel Document Mistakes and How To Avoid Them

Common Travel Document Mistakes and How To Avoid Them

Traveling is fun, but not when your documents a

Supplements for Vegan Moms Who Love to Travel

Supplements for Vegan Moms Who Love to Travel

It's probably safe to say that we all want to stay safe

6 Things to Do in Pigeon Forge

6 Things to Do in Pigeon Forge

Who doesn't enjoy trekking through lush green forests, inhaling fresh

Six Exotic American Family Vacation Destinations

Six Exotic American Family Vacation Destinations

America has so much to offer in terms of travel dest

How to Apply for a Canadian Tourist Visa

How to Apply for a Canadian Tourist Visa

Canada’s borders are expected to open on May 21! Find out

How To Help Your Dog Overcome Fear Of Flying

How To Help Your Dog Overcome Fear Of Flying

Travelling with your dog not only strengthens the trust

The 5 Safest Cars to Take Across the Country

The 5 Safest Cars to Take Across the Country

These days, the only traveling we can look forward to is

The 6 Best Places to Travel on a Motorcycle

The 6 Best Places to Travel on a Motorcycle

Motorcycles, while fun and exhilarating to ride, are noto

Why You Should Get Travel Insurance Before Your Next Vacation

Why You Should Get Travel Insurance Before Your Next Vacation

Taking a break from your day-to-day lif

How to Travel while Practicing Social Distancing

How to Travel while Practicing Social Distancing

Chances are you’ve been affected by the COVID-19 p

Will I need an approved ETIAS to travel to France?

Will I need an approved ETIAS to travel to France?

France is known for its beautiful culture and natu

8 Tips to Stay Healthy While Traveling

8 Tips to Stay Healthy While Traveling

Studies show that travel can improve our health. These benefit

A Guide to Packing Fashionably in One Suitcase

A Guide to Packing Fashionably in One Suitcase

One of the biggest problems with vacations and traveli

9 Offline Games To Play During Long Flights

9 Offline Games To Play During Long Flights

Long flights can be boring in most cases, but we know the

Why You Should Head to the U.S. East Coast

Why You Should Head to the U.S. East Coast

From coast to coast America has incredible towns and beaut

Best Places to Visit in Denver While Driving Around

Best Places to Visit in Denver While Driving Around

Denver's outdoorsy vibe is best experienced on a

Top Tourist Attractions in Seattle: Parking Options

Top Tourist Attractions in Seattle: Parking Options

From its breathtaking natural attractions to the

travelers today

© 2021 TRAVELERS TODAY All rights reserved.

Subscribe to our newsletter
Real Time Analytics