If you’re already set to treat yourself and your family
The best thing to do is to do it now. Life is too short, and time does not wait for anyone. Traveling is a great way to create memories for a lifetime. What’s more is that you will thank yourself, and your family will thank you for making an investment that you will always remember, fondly. Of course, you will need a few travel budget tips. You will also need to gather your passports, your luggage (preferably rolling,) and of course your vaccinations. With everything in place, you’ll be ready and set to start traveling!
Of course if you need time to save, just as promised we have a few tips below…
1. Zero out your purchases
A great way to start saving today is to start with zeroing out your change made from purchases. What I mean by this is that for every purchase you make, you’ll collect the spare change as an instant saving for yourself.
An example of this is if I were to go to the store now and purchase a Gallon of milk for $2.48 with a $5 bill, I would take the leftover $2.52 and put it straight into savings. It may not seem like much, but if you were to save on 2-3 milk purchases alone each month, then that would put nearly $100 into your pocket at the end of the year.
You can do this with any purchase too! Imagine if you were to zero out every single purchase you made when grocery shopping!
For those who use credit/debit cards, there are great apps such as Robinhood and Acorns that will automatically save your spare change for you. These apps also double as investment apps, so you even grow your money while you sleep.
2. Turn off the lights
Actually, turning anything off that runs on electricity while you’re not using it not only saves energy, but it will also cut the electricity bill by quite a bit.
Your electricity bill is calculated by the amount of Kilowatts used each day in a month. If you’re watching a TV that uses 125 watts each day for three hours a day (375 Watts a day), and keeping in mind that for every kilowatt there are 1000 watts, that comes out to about 0.375 Kilowatts in a month.
If you were to be charged 10 cents for every kilowatt used, that means that your TV would be costing around $1.13 a month. Again this doesn’t seem like much, but its still around $13.50 saved each year, just by hitting the power button on your TV.
3. Put 10% of your monthly income towards your trip
If you are really looking to accelerate your savings plan, then a great way to do so is to put at least 10% of your monthly income towards saving for a trip.
Now that may be a pretty big commitment for some, which is why it is OK to start off where you’re comfortable. However, if you save 10% of your monthly income, your savings will pile up a lot faster. For example, if you are making around $3,500 a month, then 10% of that would be $350 a month.
Broken down into two pay periods, this would be $175 per paycheck, but you may even get paid weekly, which would be around 87.50 per weekly check.
By the time the year is over, you would save around $4,200, which is more than enough for your plane ticket.