If you want to travel the world but don’t have the money for it, all you have to do is save up. You don’t need to be rich to go to the country that you’ve been dreaming of or have an epic vacation that you’re dying to have.
You have to control yourself not to splurge to anything unnecessary, and the money you will save from it can go to the investment that you will use for traveling. You don’t have a rich parent or be a rich person to do this yourself. Although you may find it hard at the start, here’s how you will get accustomed to it that you’ll never notice that you’re already saving up.
BE FINANCIALLY RESPONSIBLE
To be financially responsible, you have to know about financial planning. If you haven’t learned much of this in school, you may seek the advice of a financial advisor to understand more about it. No, this is not an advertisement of a sort, but this is the right way to learn your finances and how to handle it.
Managing your money is a learned skill. However, not everyone knows how to do so. So, if you’re planning to travel and wanting to save up to do so, this is the first lesson that you have to learn. If you succeed, and I’m confident that you will, you will surely go to your dream destination.
LIST DOWN YOUR EXPENSES
Well, to tell you honestly, money is not the problem, but your expenses are. You have to learn the right money management, and you can start by listing down your expenses. Don’t you know where your money goes? Track it down!
Select a day that you don’t have anything to do and track down your finances — up to the last dollar. From here, you will know where you spend money too much that you have to cut down. You may hear of this method time and over again because it is that effective. So, write down all your expenses for, let’s say, two weeks when you will receive your salary, from food to bills to other expenses, and put the extra money on your savings.
CREATE BUDGET PLANS
When you’re planning to save up for a journey, you have to create two budget plans: one is your budget for your trip, and the second is the budget for your life. For your first budgeting plan, you have to take advantage of your electricity and use your computer and the internet to know how much your travel will cost you. Yes, you have to do a lot of research here so that you’ll know how much you need to save for this.
For the second one, follow the expenses that you listed down and stick to your budget religiously to reach your goal.
CUT OUT UNNECESSARY SPENDING
So when you make a list of your expenses, you’ll probably see where your money goes and the unnecessary spending that you’re doing – cut that out. How to do so? Write the things that you need and the things that you want.
So, do you think Netflix, Starbucks coffee, and bar drinks are something you need? If not, then put it on the “want” list. Be brutally honest about yourself and write everything on this list that you don’t think you need. When you finish, price each of them and add it up. Now, the total amount you saw is how much you can save without these unnecessary things. Your credit card will be at rest.