Dreaming of how to escape your small town and travel to a faraway destination? I get it! I was right where you are before I learned how to travel on a budget.
I’ve had a desire to travel since I was a teenager but I haven’t always had an income to make it happen. When I finally started making a few coins, I didn’t have the time to travel. I had to work. Sound familiar?
It was frustrating. It felt like I was doomed to postpone travel until retirement. Some people don’t retire until their late 60’s and I didn’t want to wait that long!
Thankfully, I didn’t let time or money stop me from pursuing my travel goals. And you shouldn’t either.
Instead of giving up, I got determined. If you are determined to make your dream vacation happen this year, these tips are for you.
Learn how to travel on a budget
1. Have a monthly budget.
Have an understanding of all the money you have coming in and a written or electronic record of all the money going out. For years, we used a spreadsheet to keep up with income and expenses. Now we use an app. We know where every penny of our money is spent. Having this type of detailed knowledge of your money is the key to controlling your finances. Once you have control of your finances you can add travel to your budget. I don’t believe in accumulating debt for travel.
Once there is a line item in the budget for travel and you can consistently save for a get-away, it is time for research. Check out the process below:
a. Make a list of 3-5 places you want to visit.
b. Research the approximate cost of each trip. Be sure to include the cost of transportation, travel insurance, hotel, food, and spending money. If you need help, download the list of websites below to get started.
Tip: Find out if your employer offers travel insurance, many employers have coverage.
c. Calculate when you will have the money to travel to the least expensive location and the most expensive location. This gives you options. If you want to travel soon the least expensive option is on your wish list and if you want to wait for the more expensive option, that location is on your list too.
I don’t believe in traveling to destinations I don’t want to visit just because I can afford to. The location needs to be on the wish list.
Traveling requires planning. Once a budget and destination are in place, its time to plan the logistics. Consider when you will travel and for how long, then…
a. Plan the time off from work as early as possible.
b. Plan care arrangements for pets and/or children.
c. Plan how to get to and from the airport, if the trip requires air travel.
Tip: For road trips, find out if your car insurance has towing coverage.
4. Make lists.
- Make a packing list for everyone traveling. This is especially important for families traveling with children.
- Make a list of places you want to visit while on vacation. Sometimes internet speeds are very slow, and you don’t want to waste time searching places to visit while on vacation.
So many times, we make plans and never follow through. Travel is a follow through kinda activity. New destinations will not show up at your doorstep, you must budget, research, plan, and most importantly GO!
Travel on a budget is possible. If you are ready to start traveling today, learn the 7 steps we follow to travel the world.
I hope you get to the places on your travel wish list!