Tips for saving money

Elias Travel Planning Leave a Comment

Saving the money for a trip around the world is actually way easier than you might imagine it. If you are willing to restrain yourself in other parts of your life you will have the money for your trip quite fast. Depending on how much you are willing to restrain yourself 1-2 years is a realistic goal.

Here are some easy ways to get the money to make your trip come true:

Get a separate bank account for your trip. Pay a standing order to that account at the beginning of every month so you can’t touch that money. Otherwise you will most likely just continue to spend your trip-money on other stuff.

Spend less money:

  • Stop buying stuff you don’t really need. It seems to me some people spend their money on rather useless stuff, just because they can. Those new boots will make you look good, but if you buy them they’ll carry you 100 steps further away from actually taking your trip. There are way more things: magazines, new clothes in general (im sure you have enough already), new technology (you don’t need the newest iphone).
  • Stop beeing convenient. Don’t go into an expensive restaurant, cook for yourself. Use public transportation instead of your car. Using your feet/bicycle is even better, if thats possible.
  • Stop to drink and smoke. I don’t know how much people spend for drinking since I’ve never been a big drinker, but for smoking you spent 100-300 € a month, depending on what brand and how much you smoke. This is a really big point and can make a huge difference. After a few months you will realize that you actually won life quality, instead of having lost something.
  • Check/cancel subscriptions.  Do you still need and use them? Are there any cheaper ones with the same or just a bit worse conditions?

Sell stuff you don’t need anymore. Everybody has stuff which is actually never used. We are just to lazy to get rid of it. Sell clothes, old books, your old game console, an old CD player, your car, (if you can handle that ) saves you money for petrol and insurance at the same time aswell… It’s actually a great relief after you sold all that stuff and a few less things to store somewhere while you are gone.

Rent out your appartment. If you are in the lucky position of owning an appartment you can rent it to someone while you travel. This will not only save you the search for accomodation once you are back, but also save you from packing and storing all your stuff.

Let yourself be gifted. Probably your parents/relatives had the same dream when they were young. Probably they tell you that your idea is stupid, but when they were young, they had that exact same dream. They just never got to fulfill their dream, for whatever reason. Due to that, a ever so subtle hint of what backpack you would absolutely love may lead to your backpack beeing for free. If they are more open-minded you can just ask for certain gifts for christmas or your birthday.

Some more hardcore ways:

  • Live with your parents again, until you are ready to leave for your trip.
  • Work another job on the weekends.
  • Don’t use lights during the day, take shorter showers, charge electronic devices at work.
  • Take your own lunch and coffee to work.
  • Stop watching TV and sitting in front of your computer. Go outside instead.

If all of that is not enough, if you want to leave sooner, or if you just want to do it for the sake of doing it, working during your travels is another option. You can either get a work and holiday visa, work online, or work for food and accomodation. Another option is to work without permission, I can’t recommend that though, since I have witnessed myself what happens if they catch you. The penality can be more than what you actually earned, besides other punishments.

As always you are very welcome to leave additions/suggestions/opinions in the comments!

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