It’s the beginning of a New Year and many of you must be having plan of traveling to your dream location like Bali, Maldives, Europe and many other exotic locations in your bucket list. But just making a bucket list is not enough, you actually need to have a sufficient amount of money with you. Breaking your savings and FDs for travel is not at all good idea. And you don’t need to be a millionaire to be able to travel abroad. Even if you have a modest salary you can travel to your dream location by saving money in a disciplined manner.
But saving money is not an easy task. You need to set goals, make a budget for your day to day expense and had to be stick to it in a disciplined manner then only you can achieve your goal.
Easy Steps to Save Money for Your Dream Trip
Have a Concrete Goal
Just having a desire to go abroad will not help you achieve it. You need to have a concrete plan which is organized and detailed. Start with the location where you want to go and when you want to go. Look for the air ticket fares and then hotel charges. Make your budget according to all these things and start saving accordingly aiming a target to achieve.
Open a Separate Savings Account
Accept it, most of us are spendthrifts. We like to spend money. And it’s human to spend it some way or other. But to save up the money needed for the trip you need to avoid unnecessary spending and start saving. The money we don’t touch is the only money we don’t miss. To save having a separate saving account is the best option. You can keep your extra money there which is left after setting our monthly budget. This amount will keep on increasing month after month and hence will help you to achieve your saving goal.
Try to Cut down Your Expenses
Budget is the basic step towards saving money. So, start with making a budget and identify the unnecessary spendings and cut them out. This will be a major contribution towards your saving.
Even when you do grocery shopping don’t be a brand freak. Go with the quality and not with the brand. This will not affect you anyhow and will contribute to your savings as well.
Cut down your Expense on restaurants and coffee Houses
Frequently dining out and going to coffee houses such as CCD and Starbucks is the new trend. But have you realise that the amount of money you spend on one time meal in a restaurant, you can eat whole week homemade food in that particular amount. So when you are planning to save money for your dream trip. You have to do this as this can increase a lot to your savings account.
Shop around before Purchase
Every now and then we need to purchase many household things or some other things. Before you purchase anything shop around for the best price and best offers available. Suppose you need to buy a mixer grinder for your kitchen. Before purchasing from any particular shop, go different e-commerce portals and look for a better price and offer. Do this for each and every item you need to purchase. This can help you to save a lot.
Use Reward Points Wisely
Many Credit Cards give reward points for travel expenses such as on flights and hotels. When it comes to make your dream trip happen you can use these credit cards and earn reward points. These reward points can be use later on, on your purchase of different thing. So indirectly it’s a kind of saving only.
However, try to be beware of the trap of owning several credit cards at once. It will end up trapping you in lots of debt.
Increase Your Contribution
There are some occasions where we get bonus from our company, and some of us get incentives too based on our performance in job. When you get these amount, don’t be in rush to use it immediately. As soon as you get it, transfer it to the savings account which you have opened for your dream trip. It will definitely add on and will bring you close to your goal.
You don’t have to be a millionaire to be able to travel abroad. Anyone can afford a foreign trip whether alone or with family. The key is to lead a financially disciplined life and have enough money saved up that even big expenditures of life can be afforded.