There is a common misconception that only the super-rich can afford to travel the world. However, this notion has been shattered time and again by famous travellers of our generation. Many young people today can tour the world despite not having much wealth. If you are planning to join other travellers in visiting beautiful places around the world and experiencing different cultures, you are doing the right thing by reading this article. Our lofts guy is very keen on saving money whilst travelling www.encompasslofts.com. Here are some proven ways to save money for travelling.
Know your budget
Create a budget and stick to it. Find out how much money you might need for the journey and start saving. According to Matthew Karsten, a traveler and a blogger, you need about $9,000 to travel the world for six months while spending $50 per day, roughly 7,300 pounds. You will need to focus on reducing your expenses and increasing your savings to save enough money for the flights, accommodation, transport, and food expenses. Once you know how much you are trying to save, it will motivate you to change your spending habits.
Cancel subscriptions for services you rarely use
The advent of the internet brought with it many ways of doing business. Because of this, subscriptions have become a normal part of our lives. Sometimes you may feel as if life would be boring without the various subscriptions you have. You might wonder how we survived before the internet permeated all aspects of our lives. The truth is that your life would be just fine without some of the unnecessary subscriptions you are paying.
Outline all your subscriptions and give them an honest analysis. Do you need all of them? Maybe you subscribed to a media newsletter, but you rarely find time to read the news. It could be a gym subscription, and you only go to the gym about four times a month. Cancel the subscription and look for alternative exercise methods, such as running or watching workout routines online and doing them from home. You can also cancel the Cable TV and Netflix subscription and read instead or pay for the one you watch the most.
Save on energy
Try your best to reduce your water, gas, and electricity bills. Shop around and see if there are cheaper energy suppliers. Switch suppliers as soon as your present contract ends. Use LED bulbs since they consume less energy than traditional ones. You can also spend less time in the shower and shut down your computer at night when you are going to sleep. Remember to unplug all other electrical appliances when you are not using them. Also, turn off lights when you are not in a room or when you are not around. Additionally, turn on the dishwasher when it’s full of utensils, and be mindful when using the washing machine by using a low temperature of at most 30 degrees.
Borrow and swap items
Have a swap party with your friends and exchange things you no longer use, such as old clothes. This way, you will give out clothes you don’t wear and get others you will wear without spending any money. Also, if there are things you can borrow from friends, relatives, or neighbors, you don’t have to buy them, for example, a wedding dress or a mower.
Stop eating out
Eating at restaurants can be expensive in the long run. If you are trying to save for a trip, you must avoid eating out as much as possible. For every meal you cook for yourself, you will save about 10 pounds, which will be well worth it if you save for about a year. You can partner with friends and cook restaurant-like delicious foods for each other and eat together. Add some wine into the mix, and you will enjoy and make some great memories together. If you work in the office, carry a packed lunch daily. Also, the best way to keep the expensive grocery low is to buy them once a week from the market. Take a list of the things you need with you to avoid overspending.
Do DIY projects
Buying new things all the time can be pretty expensive. Make things and fix the broken ones. You can repaint an old piece of furniture to give it some life and repurpose your clothes. You can also make your own décor, trim the trees and mow your lawn. Do it yourself if you have broken or torn things that can be repaired. Labor costs are quite high, so try fixing things you can, for example, learning skills like how to unblock a clogged sink is important.
Use cheaper transport means
Buying fuel for your car and paying for insurance can add up with time. Sell the vehicle and use cheaper ways to move around, such as walking, cycling, and public transportation. Ride-sharing is also another great way to reduce transport expenses and, at the same time, be kind to the environment.
Reduce accommodation expenses
Evaluate your housing situation and determine if there is a cheaper and decent alternative or a way to live in the same place and reduce your rent. If your house is too big, you can consider finding one or two roommates and sharing the rent cost. You can also move to a smaller place or a cheaper neighbourhood nearby. If possible, how about moving back in with your parents? This can be a great solution especially if you work online and don’t have to live in a specific place and commute to work.
Find a side hustle
If you have spare time, think of a side hustle you can do to help you earn extra money. Evaluate the skill sets you have and see which side hustle it can match with. Some part-time jobs you can do are teaching English online, teaching dancing, gym instructor, pet sitting, and dog walking, or buying second-hand items and reselling on eBay.