5 Tips to Save Money for Travel with a Vacation Fund
This post may contain affiliate links, which helps us to continue providing relevant content and we receive a small commission at no cost to you. As an Amazon Associate, I earn from qualifying purchases. Please read the full disclosure here.
Every traveler has big dreams about going around the world and touring famous destinations. While this is nice, we have to admit it; it will cost us a lot. Even just going to a different country for a simple vacation can cost you time, effort, and money for only a few days.
You might be one of those people who save up a year prior, but there will always be unexpected expenses we’ll face regularly, and our budget might get affected or, worst, disappear.
However, you can do a lot of things to save up money for your next trip.
Probably the only thing that would be a struggle is discipline and commitment. That is the #1 reason people struggle to save money for anything and why debt is rampant.
Let’s admit it, saving money is easy, but completely committing to it and disciplining yourself is hard. But if you’re keen on these two factors, then saving money will be a breeze.
That said, here are some things you can do to save money for your next trip.
Plus you will learn how to start a vacation fund! All for one purpose to start traveling and enjoying many trips.
How to Save Money For Travel
You might think that budgeting is the key to all this, and you think that it will be complicated because, after all, planning for your next vacation is a big endeavor. Luckily for you, though, these tips are simple and easy enough to do that you can save up money as easily as you breathe.
Plus you will learn how to start a vacation fund.
1. Keep Track of Your Spending
If you’re one of those people who has difficulty keeping track of their expenses, don’t worry, there are plenty of us in this world who have the same problem. So, you might be thinking, what can I do?
The solution for this is simple.
Firstly, go through all of your accounts and see how much you’re spending every day down to the last penny. Knowing your expenses is the most important thing if you want to track how you spend your money.
You might hear this all the time, but a financially responsible person is one who keeps track of their expenses.
It’s cliché, but it’s true.
After seeing your accounts, write all of the info down and categorize them into several categories like food, utilities, bills, entertainment, etc. You might be surprised at how you spend your money on things.
If you have someone you trust with your finances and would prefer someone else to keep track of them, then, of course, feel free to ask them to do it for you.
2. Buy Secondhand or Use Coupons
If you’re planning to buy new stuff for your travels, it’s best if you opt for second hand things such as clothes, shoes, bags, etc.
Buying brand new things will cost you more and will likely cause you to go over your budget.
If you don’t know where to buy them, you can start looking at charity shops and other bargain sales. You might even be surprised to see things that are still good as new but for half the price.
It’s all about finding that bargain, and there are many out there.
In terms of coupons, there are many sites online that offer discount coupons that will let you in on a great deal. Not only that but if you’re struggling with the lodging, there are sites out there that can reduce the price of your hotel with a coupon or a promotion for said hotel. Or if you’re looking to buy a souvenir, you can also find coupons for them. Even your local supermarket will have discounts, special offers etc.
So, just keep an eye out for them. Once you start looking for special offers/coupons, you’ll wonder why you didn’t notice them before.
A great place to start is with the Entertainment Book or Groupon deals.
3. Buy in Bulk
Of course, buying in bulk is not the best option all the time, but if you want to save a few bucks on things you usually use outside of the house like toilet paper or soap, you can buy them in bulk.
It’s the best way to save a few dollars.
Not only that, there are online shops that offer discounts for travel expenses if you buy a lot of stuff from them. If you don’t want to personally go to the store and go back home with a lot of things in tow, you can have them be shipped to your doorstep.
4. Open Up a Vacation Fund
If you’re one of those people who constantly go over your budget and spend the money that is supposed to be for other things, then opening up a savings account might cure you of this disease.
A dedicated account just for your vacation fund.
Yes, of course, this is an obvious tip, but you would be surprised at how many people don’t want to be bothered to open up a new account for savings. Let’s admit it; money can easily be sucked into your everyday life, and having your savings within reach is a bad idea.
After opening up a travel savings account, try to put money into it every day, no matter how small it is.
You didn’t buy your regular coffee from Starbucks today? Put the money in the vacation fund jar. You didn’t eat out today? Put the money in your savings account. Did you manage to save money on your weekly grocery shopping? Put the money in the vacation fund box.
This way, you won’t accidentally use your money for other things.
5. How to Budget for Travel
Making a budget is easy. Sticking to it and making it work is hard.
That said, estimating how much your trip will cost you is a good place to start.
The first thing you should do is estimate how much you will be spending every day and how many people will be traveling with you.
Let’s be generous and say you have a budget of $50 daily per person. However, you have to think of other factors like where you want to travel and how thrifty you should be in your travels.
- Do you plan on eating out every day?
- Do you plan to visit attractions that cost money?
- How do you plan to get from A to B?
These are all things that you should consider when beginning your budget to travel.
Remember how you can find discounts on things you want to buy for travel? You can do that with your accommodation too. There are hotels out there that offer discounts and promotions based on a given circumstance or condition.
For example, some hotels offer discounts for first-timers or if it’s a holiday. If you can find hotels like that, you can incorporate them into your budget. However, you have to consider when the promotions will end. And if you’re planning to incorporate an RV into your trip, you can get help for RV financing with My Financing USA so your budget wouldn’t be strained too much.
Ready to Save Money in Your Vacation Fund?
Saving money for your travels is easy, but completely committing to it and making it work when the time comes can be a struggle. It is like most things in life, it takes time and effort. Make sure that you’re always prepared for emergencies, especially financially.
Remember, if you want to save money, you have to be clever and resourceful, and you have to take advantage of every opportunity to save.
More Ways to Save Money:
- Top 10 Influential Frugal Living Tips with a Big Impact
- 175+ Simple and Easy Frugal Living Tips to Save Money
The time to start is now.
I hope you have found my tips helpful and I wish you all the best in your travel saving goals. You can do it.
Lauren Cordell is a freelancer who writes for various financing and business websites. Aside from finance and business, she also writes book and movie reviews. If she’s not writing, you will see her sitting at the corner of a coffee shop reading books.
Great Travel Resources
Here are great ways to save money when planning your next vacation. Find great deals on airfare, hotel, and so much more!
CheapTickets | Vacation Value Finder Trip Planner
The CheapTickets Vacation Value Finder helps travelers easily find, save, share and book destinations based on personal tastes, so you can find their ideal trip.
Start searching today!
Orbitz | Cheap Flights, Vacations, Rental Cars & Hotel Deals
Earn free travel rewards with Orbitz. Save up to 50% on select hotels with Insider Prices. Fast booking & free cancellations.
Reserve now, pay later!
Travelocity | Wander Wisely with the Price Match Guarantee, Free Changes & Cancellations
Find 24/7 Personal Assistance only with Travelocity's Customer First Guarantee.
Travelocity has some of the best deals on vacation packages, flights, hotels, and car rentals.
Get off the grid | Find your perfect RV rental
If you’re thinking about going on a road trip, camping, or renting an RV for a special event, RVshare makes the whole process simple and fun!
Things to Do Promo Codes
If everything you want to do costs money, then at least find a coupon code or deal!
Be thrifty with your spending money!
The Entertainment® Coupon Book + App
The popular book of coupons is now a downloadable app!
The Entertainment® Book and Digital Membership offer 2-for-1 and up to 50% off discounts, all conveniently accessed on our mobile app, online or in the book.
Great way to save money on local restaurants, activities, hotels, adventures, and more!
Groupon | Online Shopping Deals and Coupons | Save Up to 70% off
Groupon's top deals updated daily.
Discover and save on thousands of great deals at nearby restaurants, spas, things to do, and more.
Simple tips that are effective but easily overlooked! Thanks for sharing. I didn’t think of opening up a savings account!