This is a question that I am asked weekly, “How can you afford to travel all the time?”
There are a number of steps that I follow when preparing for the next travel adventure, and I am going to share my secrets with you!
1. Save at least 20% of your wage
Saving 20% of your weekly wage ensures that you are contributing a regular amount to your savings and this amount shouldn’t effect your livelihood too much. This can be difficult to do for a lot of people however you MUST live and travel within your means. Don’t make extravagant travel plans if you won’t be abel to afford it.
2. If possible, have more than one income
I have held 2 – 3 jobs for the past couple of years. This takes great determination and organisation, however for those who are driven to achieve their dreams, you can make it possible. Finding a second income that can be flexible with your current employment is key, as if both jobs clash it will become stressful and the additional income will not be worth the stress. The additional casual income is transferred directly into my savings account and is a large contribution to my travels. This is often the difference between a four week holiday, or a 6 week holiday!
You may not need to get a second job, maybe you can pick up overtime or extra shifts at your current employment. Or even better, combine both options to maximise your savings and your holiday fun.
3. A savings account that works for you
Having a savings account that is separate to your everyday banking I have found to be key. I find it easier to transfer money to, and as the money is in a separate account I can not access it immediately. This elevates the ability to spend the money whilst on a shopping spree or on an impulse purchase. I watch my money grow, and can access easily when I am ready to spend it on travelling.
4. Do you really need that?
Well do you? I have condensed my spending habits over the past few years, and it was hard! Do I need to spend $200 0n the bar tonight, or will I have just as much fun with three drinks? Date night out, how about a nice dinner party at home with friends? Just think of your priorities, would I prefer a night out in my home town or late night online shopping for $300, or would I prefer to go out for a day trip on my next travel adventure or do something you have always wanted to do such as go skydiving? Often having a second job will assist in stopping you from big nights, as you could possibly be working.
5. But don’t skimp on everything
Whilst I certainly watch what I spend money on, you still need to live your everyday life! A friends birthday or special occasion, treat yourself with a big night, just pare back on having a big night twice a week!
7. If only money grew on trees
Money doesn’t grow on trees, unfortunately, but don’t let this get you down. Instead of wishing you could afford to travel, or praying to win the lottery sit down, look at your finances and get yourself into a savings routine. You may not be able to go cold turkey straight away, but work out what will actually work for you!