TIPS ON HOW TO SAVE & BUDGET FOR TRAVEL.

When traveling, planning is a major key. It is even more critical when traveling on a budget. This is my process;

1.      Buy the plane ticket at least 6 months in advance. Buying a flight ticket well in advance is the most important part of the puzzle. Booking sites typically allow you to scope out flights many months in advance, so I start there. I plan my travel a year or so out, prior to flying. This is to save on flight fares. Check out recommendations for top 10 sites to book a cheap flight.

2.      Always select the ‘multi-city feature’ when booking a flight. Flights with layovers are the cheapest flight option, compared to direct flights. This gives me the opportunity to knock out a few countries off my bucket list while saving money.

3.      Book accommodation through Airbnb. There are plenty of options when it comes to accommodation: Hotel, Airbnb, Hostel and CouchSurfing. Hotel stay can become pricey when you’re traveling on a budget. While hostels are cheap and Couchsurfing free, they aren’t the safest options. I recommend Airbnb because it’s both cheap and safe.

4.      Book activities locally. Booking and/or scheduling activities locally will save you big bucks. Websites like Viator and Expedia will charge you extra because they’re the middle men. On site, you receive a lower charge and you’re 100% certain that you’re supporting the locals.

5.      Opt for public transportation during airport transfer. Once you land in a new city, check out transportation companies located towards the exit of most airports. These companies offer group transportation at a much lower fare. This is because they’re transporting a group of people going in a similar direction. It’s much cheaper option than jumping in a private taxi.

6. Travel on the cheapest days. Tuesdays, Wednesdays and Thursdays. Traveling on Fridays, Saturdays and Sundays are always pricier. Monday is a 50/50. Also, late night flights or overnight flights tend to be cheaper. This could potentially mean that you will get to your destination in the wee hours of the morning. Be well prepared for that: accommodation, etc.

This should cut down on your expenses significantly!

SAVING TO TRAVEL

The ‘how-to’ on saving money varies on a person-to-person base. What works for me may not work for you, and vice versa. There’s no method to the madness, but I’ve nailed down what has been effective for me.

1.      I split my income 3 ways. I’ve set up direct deposit to split my income 3 different ways; one for my day-to-day spending, another for my savings and a third for travels. It doesn’t have to be a huge amount allocated to travels, but something is better than nothing. This is so I don’t have to put out a huge chunk of money when preparing for a trip. I’ve been saving on a weekly base.

2.      Piggy banks make a difference. I usually dump all my quarters and light notes ($1, $5) in my piggy bank. At the end of the year, I could have up to $200 saved up for my travels. This could easily cover my activities, depending on where I’m headed.

3.      I cook at home 80% of the time. It’s important to have a spending budget when it comes to lifestyle needs. Going out every weekend with friends adds up, so I developed a reward system. The funds I put away instead of spending at a Happy Hour goes towards my travels.  If I save x amount, I treat myself. If I successfully cook 80% of the time during the month, I’ve earned myself one nice meal.

One thing I didn’t mention is discipline. These tips won’t work if you don’t apply discipline in these areas. I know the cooking one could be tough, but something definitely has to give. I’m certain you got this though!

Let know if you have other suggestions I should try.
Xx, Kris