How to Save Money For the Trip of a Lifetime

One of the most difficult parts of travelling is saving money to go in the first place!

The World is getting smaller every single day. Advances in air travel and competition in the industry mean that getting to far-flung places now costs less than it ever has. You can also get there a lot quicker too on longer flights, and direct flights.But, an around the World trip can still set you back a small fortune. Sometimes, saving money for a long trip can look out of reach for those of us on average salaries.

We travel often at Lifetime Backpacker. We don’t earn much, some of us struggle to make ends meet at times, but we always find time to travel several times per year. Want to know how?

It is entirely possible to save money for travel on even the smallest of budgets! Learning and adapting to some simple lifestyle changes help you travel more, and could even make your life that little bit easier.

Here are our top tips on saving money for travel.

1. Create A Money Saving Goal & Budget For Your Trip

This is the ultimate first step. Visualising your goal and taking responsibility for it will help you see how far you are away from that trip of a lifetime, keeping you motivated.

Find out how much you think you are going to need for traveling. If a long trip is planned, it is very sensible to increase your budget by 50% what you think you will need as a safety net. Read our guides on the cheapest cities, and most expensive cities to visit in the World to help you.

Once you have an end goal of funds you need, the next step is to make a budget and stick to that budget. Doing this has to be one of the hardest things to do, not just for traveling, but for life in general. Commitment is a must.

how to save money to travel the world

2. Remove Purchases From Your Life

Fully committing to your budget in order to save for a once in a lifetime travel opportunity may mean sacrificing things. A common example of this could be cutting out your morning coffee from your local coffee house. In the UK coffee is expensive and you can often pay between £3-£4 ($3-$4 US) for a medium cup. Imagine saving that much every single day for 3 months.  Even if we are just talking 5 working days, that’s between £/$60-£/$80 straight away into your backpacking budget.

Now we’re definitely not saying give up coffee altogether (Mornings for us would be a non-starter if we did). Buy it from the store. Ground coffee works out MUCH cheaper to drink than buying one every day!

It’s not just hot drinks you can look to save money on too. What purchases do you make that you could still live comfortably without?

3. Turn Your Commute From Traffic Jam Pain To Workout Gain

Everyone who has a reasonable commute can do this. Here’s an example: The agency I currently work for is ~4 miles from home. When I’m feeling lazy I’ll get up late and drive the 10-minute commute to the office. But, add a bit less lazy and more motivation and I have a much more interesting commute. There’s either a 45-minute walk, a 25-minute cycle along a beautiful river, a 15-minute bus journey or an equal length commute by train!

“But what if there are no showers at work?” valid question and there are none at my workplace. When I decide to run I will commute to work using train, bus or walk and take a rucksack with running gear. When the end of the day comes it’s simply a case of getting changed and putting on the running shoes. Simple.

Routine is boring. Isn’t that one of the reasons why you crave the idea of plane hopping to beautiful cultures and destinations? Check our your own commute to work and see how you can save money and make life more interesting, and maybe even get fit at the same time.Commute-by-bike-to-save-money-for-the-trip-of-a-lifetime

4. Increasing Income

Saving money each month isn’t just about cutting down on things. There are plenty of ways to increase the amount you earn each month too. You just need to find one that suits you.

First of all, look at your work situation. How long have you worked there? What have you achieved? How valued do you feel for your work? Based on the answers to these questions, you could benefit from asking for a pay rise. After all, as long as you explore this in the right way the worst that could happen is a rejection.

Secondly, look at any talents, hobbies or skills you have. Focus particularly on things you absolutely love doing that have potential to make you a bit of extra cash. Play an instrument? See if you can organize a few hours busking on the weekend! If you love gardening or growing things, why not offer some help to your neighbours and local community? Maybe you love to knit or craft? Why not sell your items?

There are millions of ways to make money and everyone has a talent for something. Get inspired and get creating! The reward of that round the world ticket will feel that extra bit amazing knowing you’ve worked a little harder to get there.

5. Never Give Up. Motivation Is Key

Find out what inspires you and grasp it with both hands. In every walk of life this is beneficial. For some, the sheer thought of waking up one day in a wooden hut on an eye-watering paradise beach will be motivating enough.  Finding motivation in many aspects of everyday life will help others in saving money to travel.

People and their stories create our biggest source of inspiration here at Lifetime Backpacker. We’d love to hear yours. Have you had to live on a shoe string budget in order to go to wonderful places? What sacrifices have you made? Inspire us!

Check out travel news for more inspiring articles and guides.

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