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Categories: Travel tips

How to budget and save money for travel with ease

Many people put off traveling as a luxury they can’t afford. Even now that the world inflation is on high. Here is how to budget and save money for travel seamlessly.

I love to travel for an international trip at least once a year. This I have achieved this year on my recent trip to Douala Cameroon.

Next year first quarter, my goal is to go on another international trip to the west coast. The city of Gold, Ghana. So, here I will be sharing my tried and tested tips of over 5 years of travel.

How to budget and save money for travel

Why do you need to budget travel? Like with everything or plan, you need to create a budget.

A budget will give you an insight into what you can afford. Recently, I did a budget for trip, and with the current inflation, I realise my budget was too low.

Did I still achieve my travel goal? Yes. But I have to opt for budget friendly options. For example, going for hotel Alternatives instead of luxury hotels. Also, eating from the local food stands instead of a chic restaurant. Etc.

Let’s jump right into how to budget and save money for travel.

  1. PLAN YOUR TRIP AND CREATE A BUDGET

In all my trips, I also do a detailed research and plan my trip. I go as far determining the place I will stay and how far it is to the things to do or the city’s hotspot.

The last time I decided to go with the flow, i lost so much money and time. Now i do my research and determine the total cost.

I know that the rising inflation may affect my plan, yet I prepare for such inflation. Determine the total cost for your trip and start working towards it.

You can save money while traveling by going for hotel Alternatives, sharing cost or looking for deals to save from. Yet , a budget will give you an overview of how much it will cost you.

2. BREAK DOWN THE COST INTO ACHIEVEABLE SAVING GOALS

I cannot over emphasize saving for your trip. So, I love to save money towards my travel goals.

No one likes to go on a trip and come back to debt from such trip.

Now that I know my budget, it’s time to break down the cost to monthly saving goals. This I do with calculator.me savings calculator.

This calculator gives me an insight into how much to set aside monthly to achieve my goal. Also, it give a realistic overview of my travel goal factoring the inflation rate, the interest rate if any and other factors.

So as I plan for my trip, I am sure that I have m budget and financial goals covered.

3. ADOPT A FRUGAL LIFESTYLE

Another way to budget and save for travel is to adopt a frugal lifestyle. Cancel that subscription that you don’t need. You know that subscription that you can live without.

I love to follow the Nerflix series, Emily in Paris, yet I cancelled my subscription. The extra money from the subscription I add to my travel savings.

Only spend on your necessities for now. Even if you can afford luxury, cut down to make your travel savings goal achievable.

4. Save for plan B,C AND D.

I love to plan as I hate surprises. When I say surprises, i mean hitches and bumps in my plans. But pleasant surprises, count me in.

As I save for my travel goals, I also save for plan B etc. You never know. Save money for unplanned circumstances.

This reminds me of my pregnancy. I had some money saved for complications and thankfully, there was none. Save for travel insurance and any other unforeseen circumstances.

As you plan your trip, be flexible with your dates. If after setting your budget and using the calculator to determine your monthly savings, your date is not feasible. Adjust it to achievable monthly savings or feasible travel date.

Also, be on the lookout for travel deals on Google flights to save on flight tickets. Sign up for WayAway to be notified of huge savings on flight, hotels and other travel deals.

Feel free to comment other tips on how to budget and save money for travel with ease. You will definitely find my tips above useful to budget and save money for travel effortlessly.

Magdalene Enimhienomo

I am fashion and lifestyle blogger. My blog is where I share style tips, place to visit on budget and reviews of my fashion haul. I am an introvert and creative writing is where I express myself more. For collaborations: Trends.stylez@gmail.com

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