14 Sure-fire Ways to Grow Your Bank Balance and Finally Have Money to Travel

Ever complained about not having the money to travel? Is that really true? See our 7 suggestions below that will help you save the money to travel and 7 things to do while you are travelling to make the most of your funds.

Before You Go

1. Sort out your finances

Before you start, make sure your finances are in order. Check what money you really have and what you owe so that you set realistic expectations. Any debt on your credit cards could cost you anywhere from €10-€115 a month. By avoiding mounting interest rates that you can accumulate by only paying off monthly minimum amounts on your credit card, you could avoid count on €100s extra per year.

2. Work to a goal and tell everyone!

If you have a specific trip in mind, find out how much money you need and work out a savings budget to achieve it. Also tell everyone your plans. You will more committed to achieve it if you’ve announced it to the world! If your trip costs €2,750, you will need to save €230 per month or €7.50 per day! Now all you need to do is work out how to achieve that.

3. Save money - even the coins

Have a money jar, tin, envelope…anything at home where you add money for your trip and store safely. Keeping a container for coins handy is a great idea. You will be amazed at how quickly this small change adds up if you routinely throw your coins in. Even 80 cents each day will add up to over €290 a year. Create a new savings account and set up automatic transfers every month. Whatever method works for you (it will depend on your timeframe too), but make an effort to save.

Read also: 10 Web Services for Budget Travel

4. See what things you don’t need

Stop spending money on unnecessary little luxuries. Give up that Starbucks or Costa coffee each day and save it for a treat. Now that you are saving with a goal in mind, see if you can get rid of any bad habits e.g. smoking. It will save you a fortune and improve your health.

5. Cook from scratch

Its much cheaper and better for you! Most supermarkets provide great ideas on how you can cook quickly and easily on a budget, so take advantage of their research save yourself a fortune (whilst improving your cooking skills!). Plan your weekly menu avoiding ready meals and takeaways. You could easily save €60 per week, or €3,100 per year.

6. Reduce expenses

Driving short distances is bad for your car, your health and your pocket. If you walk instead, you could save up to €30 a month. That’s €360 per year and you will be fitter too.

7. Get imaginative jobs

Anything you can do - baby-sitting, dog walking or lawn mowing etc.-depending on your skills. You could charge €12-€23 a week, if you get regular customers it could give you an extra €600-€1,200 a year!

Read also: 30 Things to Do before Travelling Abroad

When You Are There

1. Bring your own food

Eating at airports is expensive. Instead of wasting €25 or more on overpriced airport snacks or meals, prepare your sandwiches and snacks before you travel so you are not tempted to waste a fortune – even if your flight is delayed.

2. Do your homework

Research for any free airport lounge passes and discounts. Why would you pay unnecessarily?

3. Use public transportation

Hiring a car, can be expensive, plus the price of petrol. Getting a travel pass and using public transport, on the other hand, can be a more affordable way to travel. In addition, if you travel long distances through the night you may save time and money whilst not using up your precious day.

4. Avoid eating in tourist areas

It is a fact that tourist areas are more expensive. If you go a few minutes away from peak tourist areas, you will find cheaper food and probably eat better. Eat where the locals eat.

5. Can you cook?

If not, at least you can buy fresh food and prepare your own sandwiches. Of course, that will depend on where you travel. In some places, like Thailand, eating out is so inexpensive that you may not want to bother.

6. Make the most of your English

If you travel to a country where English is not the main language and you find a place with a poorly translated menu, you could offer your translation skills in exchange for food.

7. Be wise when calling back home

Instead of calling from your phone charging you the earth, use apps where you can call for free over the internet. Get a SIM card from the country that has a data plan (when you get to your destination) or use Wi-Fi areas to text or call your family and friends.

Conclusion

As you see, having money to travel is not impossible if you plan well and stick to your plan. All you need is a clear goal, stay focused and cut out unnecessary expenses. Why not give it a go? One thing you should not neglect in order to save money is travel insurance, as this investment can save you thousands and provide practical help in the event of a mishap or medical emergency while you are away.

Read also: How to Plan a Trip like a Pro