The economy sucks. Most people, perhaps yourself included, have cut back on luxuries, and for many, traveling or taking any kind of vacation seems like an impossible waste of money. But even in the tough times, travel can become a reality for just about anyone who chooses to save their pretty pennies the right way. In fact, precisely because the economy sucks, the world travel market is also cheaper. The euro is down, meaning your dollars go farther when you’re abroad, and most hotels, airlines and tour companies are offering super specials right now. In fact, it could be the perfect time to travel… if you know how to save. Here are a few tips to doing just that.
1. Open a savings account. Thirty years ago, everyone had savings accounts, but these days, it seems spending is all the rage. A savings account should not cost you anything in annual or monthly fees, and just having it open will be inspiration to deposit a few funds here and there. Some banks even offer “spare change” programs, where they round each debit card purchase up and put the spare pennies into your savings.
2. Fill your piggy bank. Seriously. These babies aren’t just for children – piggy banks can be a great way to save money. Okay, it doesn’t have to be a pig (although, aren’t they cute?), but any type of jar or can that you can use to collect spare coins. Believe it or not, they do add up. Once your jar is full, take it to the coin machine in your local supermarket, or better yet, directly to the bank to be deposited into your savings account.
3. Cook at home. Eating at home costs a fraction of what you spend for a meal out in a restaurant. If you have trouble giving up eating out, just think of all the amazing restaurants you’ll be able to sample on your vacation.
4. Cut the entertainments. I don’t mean stop having fun, but, for instance, instead of going out to the movies all the time, you could sign up for a Netflix account and watch movies at home. Likewise, instead of drinking out at the bar, make a few cocktails (or better yet, mocktails) at home to save cash.
5. Divide up your savings. This technique can be useful for people who have trouble seeing the bigger picture. Divide up your savings into smaller funds to be used for specific purposes. So, if for instance, you choose to give up going out to the movies, then keep track of every dollar you would’ve spent at the movies and put it into a fund dedicated to something special on your trip, such as cultural activities, evenings out or that scuba diving adventure you’ve been wanting to try.
6. Walk more and use public transportation. Gas prices are extraordinary right now. Why not take advantage of a totally free mode of transportation instead? Your own two feet! Most people don’t realize how simple (and probably close) it would be to walk to the grocery store or the bus stop. Even the most American cities have basic bus systems to get people around – so even if you have to drive to a bus stop and then use that to commute to work, you’ll probably be saving money in the long run. As well, walking or cycling as much as possible are great ways to get in shape and save money at the same time.
