Following my first two articles, I was blessed with lots of comments, suggestions and questions from my friends, colleagues and well wishers. One of the most common question that I encountered was that ‘How am I able to manage the financial aspect of my trip?’ It wasn’t a difficult task to answer it at that moment. However, later when I reflected on the same question, it urged me to provide a slight detailing to a few points that might really have a great impact on helping you save more efficiently.
While there can be numerous ways to save money depending on your region, country, preferences, age and so on, I would like to once again bring into picture my favorite number 7 by emphasizing on 7 vital ways that could make your desired trip possible.
First and foremost, knowing the purpose of your act and reminding it to yourself time and again will help you focus on the objective. Putting up a map on the walls of your bedroom or using travel related images as screensavers on your office desktops or as wallpapers on your phones will keep you motivated towards your goal.
1) Fix a destination for your next trip
You don’t always have to preplan a destination well in advance. However, keeping in mind which part of the world you intend to travel next will be very useful as you plan your approximate budget. For example, considering me as a traveler, a trip to places afar such as South America or Australia could be very expensive considering the fact that the flights alone could cost more than 50% of the total trip expense. On the other hand, a trip to Europe could be comparatively cheaper, while a visit to a country in Asia or particularly Southeast Asia could be the most affordable foreign trip for me. So fixing a destination will help in keeping a realistic budget goal for your upcoming trip.
2) Cut down on eating outside too often
Nowadays, young individuals tend to eat too often outside in restaurants and food joints. Eating a three course meal in restaurants in India can cost on an average 500-700 rupees (8-10 USD) per person which is definitely not a small amount for an average earning Indian. Cutting down on these weekly/monthly dinners in restaurants can add up a large sum for your next travel adventure.
3) Stay away from Amazon, Flipkart and many more similar online retail stores
While this can be true for many countries, considering the Indian population, we often tend to scroll through various websites or mobile applications such as Flipkart, Amazon, Jabong and many more. The more you visit these websites, the more you fall for high discount offers that lure our mind and we end up buying things that we did not even think of. Stay away! (No offense, I’m an avid online buyer too :P)
4) Say no to mobile internet plans, instead use only Wi-Fi
Saving up on your monthly mobile data plans can pile up a little for your next trip too. Nowadays, most of the cafe’s, restaurants and public places are equipped with Wi-Fi connectivity and thus mobile data plans can surely be avoided. Even though a mere 200-300 rupees (4-5 USD) per month might not seem a much, but still could be useful to buy a one night sleep in an average hostel in South East Asia.
5) Maintain a separate travel account
Having a separately travel account in your bank will help to save more efficiently. This would mean that no matter what, the amount in this account is to be used for a specific purpose, i.e. to cover travel expenses and thus will be more likely to remain untouched for other needs. Some part of your total savings could be transferred to this account regularly to keep up the pace to accumulate the amount needed as per your desired destination. In most of the developing countries, recurring accounts in banks fetch very good interest on the money deposited (almost upto 6 to 7 percent) which can be your additional savings for the much anticipated trip.
6) Limit your purchases and sell what you don’t need
It is a human tendency to get attracted to things we like. With so much of digitization, we often come across lots of new innovative products that are promoted on different platforms that we encounter in our day to day lives. Having a control on our buying pattern, i.e. buying things that we ‘need’ instead of things that we ‘want’ will add up some amount to the travel fund. On the other hand, selling unwanted stuff will tidy up your place as well as help you add some cash to your savings too.
7) Put a curb on entertainment
- Avoiding going to the movies very often.
- Cutting down your cable connection and instead using internet to watch new movies and your favorite shows.
- Minimizing your expense on Clubbing and Pubbing.
And definitely there will be many more ways to save for your next travel adventure that you yourself will encounter as you approach your travel date.
I hope you wonderful people out there like my article. Do subscribe and share to keep me motivated to come up with more travel tips.
Sayonara/Aloha/auf Wiedersehen until the next post.
Cheers and Keep traveling!!