So how do you do it?!
How do you save enough money to travel the world?
It is possible. People do it every day and everyone has a different method. So we’ve narrowed it down for you.
Here are our best ways to save for a trip around the world.
Also, check out this free guide we made to help you save more money while traveling…
1 Map out your expenses
First things first, where the heck is all your money going?! So often we hear people complaining about their money situation, but don’t even know what’s going on with their money in the first place.
Do a quick money makeover and determine where all of your money is going in the first place. Think bigger than just bills! Think; all the drinks you grab with friends, getting your nails done, your hair done, brand name items you bought, how much you spend in groceries each month, and all of those little things that you don’t even realize are sucking up your money! Then figure out what method/s will benefit your budgeting the most!
You can’t fix something you’re afraid to look at, start with this one easy step.
2 Cut out unneeded expenses
Yep, you guessed it! Next do a money cleanse! That gym membership you haven’t used because you have an apartment gym, cable TV, the coffee stop you make every day, the “date night” you have 4-5 times a week. Cut them out; if you want to travel long term then what are every day luxuries going to mean to you in the long run? Even start thinking of things that you could sell before you leave for your big trip!
3 The envelope method
Or the I can’t visualize budgeting method as I like to call it.
This is when you determine your average amount for monthly expenditures and literally put it aside, in an envelope (or Ziploc bag, whatever your jam is). You can create different categories such as; bills, groceries, date night, and even an emergency envelope.
4 Using travel point credit cards
This is a great way to get some free stuff! We got a hotel in Hawaii out of our Chase Sapphire card! The way to do this right is if you can do pretty much a mental envelope method. Make sure you know exactly where your money is going and you can back it up with cash. You don’t need credit card debt when you’re trying to save!
Learn more about how we get free flights with points and how you can too in our free guide…
5 Spreadsheets!
I see you crazy organized traveler! You go for the spread sheet method!
It’s pretty self-explanatory; take your budget, plug it into a spread sheet and see where all your money is going monthly.
6 Find work online
Find work that you can take with you along the way, like we did!
Maybe start it out as a part time gig, while you finish out your 9-5 drag. Build it up and take it with you. As long as you have wifi in a country, you can work a remote job. We live in a digital era, now is the time to start your online business!
7 Savings account
Choose an amount out of your paycheck every week to put away for your around the world trip and set it aside or put it in a savings account, somewhere you cannot touch it. You’ll be surprised how fast $10 or $20 a week can grow.
We have tons of friends that used this method and saved enough for a six month trip or more!
Happy saving for your around the world trip, we hope to meet you around the globe!
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