Looking for tips on how to save money for travel in 2024? Traveling is a dream for many, but finances often keep us from our travel goals.
It wasn’t until the end of 2015 that I realized I travel often during the course of a year, even with a full-time job. By April 2016, I’d already been to Atlanta, Cartagena, Delaware/Maryland, visited Barbados, and had 3-4 trips planned for the remainder of the year, including one to Southeast Asia.
Wondering how to make extra money for travel in 2024? This comprehensive guide will share creative ways to save money for travel, from budgeting hacks to multiple income streams and other money-saving strategies to help in your future travel plans.
Set Realistic Goals
Before you start travel planning, the first step is to set a goal. Are you saving for a backpacking trip through Central America, a road trip, or a relaxing beach getaway in the Caribbean? A clear vision will help you stay motivated and focused on your saving efforts.
Create a Budget
Evaluate your income, expenses, and how much money you spend to create a travel budget. After creating a budget, you can allocate some of your earnings to a travel fund. This ensures you have enough money for your trip and extra money for emergencies. Consider using budgeting apps like Mint to track money your management.
Cut Unnecessary Expenses
Identifying and eliminating non-essential expenses by reviewing subscriptions, dining habits, and impulse purchases is an easy way to save money for travel.
After spending over $130 monthly on Cable TV, I canceled my subscription and signed up for streaming services like Hulu, Netflix, and Amazon Prime. By using these streaming services, I save almost $100 monthly. I also started to bring food to work. Working in a city where almost everything is doubled, I can save about $30-40 a week or more.
Redirect the money saved from these cutbacks into your travel bank account. Small sacrifices can lead to significant travel funds over time.
Open a Travel Savings Account
Opening a savings account specific for travel is a great way to save money for travel. Spending money on travel instead of paying your bills is not financially responsible. Ensure you’re up to date with any payments before going on trips. There’s no need to stunt on the gram when the bill collector is calling; you’re only fooling yourself.
Make saving a seamless part of your routine by setting up automatic transfers to your travel fund. This ensures consistency and prevents the temptation to spend the money dedicated to your next trip.
One thing that has helped in the long run is opening a high-yield online savings account. Do your research to determine which savings account options work best for your financial situation.
@msjoannae #travel #overspending #yolo #BetterTogetherChallenge #tiktoktravel #traveltiktok #blacktravelblogger #travelfund #solotravel #PlutoTVDecades ♬ original sound – حَقّ
Get a Temporary Side Gig or Part-Time Job
Explore side hustles, part-time jobs, and other gig opportunities to boost your income. Whether you do freelance work, pet sitting, or tutoring, these additional income streams can significantly accelerate your travel savings, bringing you closer to your dream vacation.
Take Advantage of Flight & Hotel Deals
I missed out on a glitch fair from NYC to Dubai for under $200 back in 2014, and I’ve always looked for a flight deal ever since. Join travel groups online, group chats via WhatsApp, or follow sites that post the best deals for hotels and flights via social media.
You can also use Google Flights, Skyscanner, or the ITA Matrix to find out what the price for a flight will be during the time period you want. Money saved from that deal can always go towards special dining, gifts, or anything else.
Read More Travel Tips and Reviews
Tips for Traveling with a Senior
What to do When Your Flight Gets Cancelled
