Wandering the globe isn’t cheap, and it’s important to plan financially for any long-term travel outside of your home country. You should start saving up for a round-the-world trip as early as possible to ensure that you have the money you need to enjoy yourself while on vacation. Beyond putting away a portion of your paycheck each month, you can save up a healthy travel fund by building healthy spending habits. Here are some tips on how to save up for your next trip, cruise, honeymoon of a lifetime, and more by cutting out unnecessary expenditures.
Bring Lunch to Work
Many of us go out to eat for lunch during the workday out of convenience, but the cost of daily dining can really add up. Spending between just $5 and $10 per day means spending up to $50 each workweek on lunches. Packing your own lunch can save you hundreds of dollars over the course of the year, and as an added benefit, it’s often the healthier option as well.
Cut Back on Coffee
That daily cup of coffee might not feel like a significant expenditure, but the average American spends over $1,000 in a year on the beverage. Coffee drinkers can significantly pad their travel fund by giving up the drink and instead putting the money into their savings each day. If quitting coffee isn’t an option, you can save on each cup by brewing it yourself instead of heading to the corner cafe.
When you get home after a long day at work, cooking is often the last thing that you want to do. It can be tempting to spend a little bit more ordering takeout, but costs can add up over time. Organizing a food prep schedule not only eliminates the need to cook at night after work but can also save you thousands over the course of the year.
Start a Carpool
The cost of gas to and from work is a hefty drain on most people’s bank account and one that’s essentially unavoidable. One of the best ways to cut back on gas costs (short of buying an electric car) is to start a carpool schedule with coworkers who live in your area. All of you will benefit from reduced gas costs, and you can save time on your commute by riding in the HOV lane.
Have Date Night at Home
If you’re preparing financially for a round-the-world trip, the last thing that you want to be doing is spending your hard-earned money on a night out. For a couple of months, plan get-togethers and date nights at home and set a strict limit on what you’ll spend on food, drinks, and other essentials. The dedication will pay off in the end, when you get to enjoy months of date nights and outings in exotic destinations.
By eliminating wasteful spending, you can save up the money you need more quickly to pay for an unforgettable round-the-world trip. Just a few simple changes to your daily spending habits can be the difference between spending your next vacation at home or out exploring new and exotic destinations.
Written By: Jackie Edwards, freelance contributing writer