Having a Problem Saving Money to Travel? – The Solution For You

by brian on March 31, 2010

In talking to a friend recently I realized alot of what we consider to be overwhelming tasks like planning a round the world trip can be easily attained if simply broken down into SMALLER TASKS.

In a previous post I debunked the myth of a round the world trip costing the proverbial arm and leg. RTW tickets can be less than $2000US depending on stops.

The key to saving for around the world travel, or any type of travel, is to not do it yourself. It should be AUTOMATIC and done by some type of system.

So the question is – How do I save money on a consistent basis?

The answer is – Setup a savings account and DIRECT DEPOSIT $50 a week into it. Within a year you’ll have $2500.

If you get a paper check (or cash in your hands), call your bank and have them pull $50 a week out of your checking account and into your savings account.

Step up the numbers and you can have much more than that.

Before some of you boo hoo me, crying a river saying that you don’t have any money to save, the only people who have any type of excuse about not saving are the unemployed. If you are gainfully employed you can save $10 a day.

You’re not using 1000 minutes on your cell phone every month? Are you really watching 500 channels of cable? Do you need to buy lunch everyday?

You CAN do $10 a day. Trust me. $70 a week x 52 weeks = $3640 – the key: AUTOMATION

That is enough to buy a ticket around the world…or at least a round trip ticket to Australia, or South Africa or Paris, or whatever your dream destination is. Play your cards right with housing and food and you can keep traveling for a long time.

Don’t look at this ‘NEW’ money. Do not touch it. Do not do anything with it but let it accumulate in your savings account.

When you’re ready to use it, it will almost seem like you’ve hit the lottery. A nice stash of cash for you to use. I have used this over the years with great success. I even avoid looking at the amount on my monthly statement and when I finally look, it’s a shock how much has been saved up.

A very simple solution to what can seem like an overwhelming problem – How to Save for Travel

Automate your piggy bank – and you’ll soon have enough to see the rest of the world
piggybank Having a Problem Saving Money to Travel?   The Solution For You

468x60 Having a Problem Saving Money to Travel?   The Solution For You

{ 8 comments… read them below or add one }

Head Sherpa March 31, 2010 at 8:00 PM

Brian – this is cogent practical advice. Everyone ought to practice some discipline in order to put themselves into a financial position to take a RTW trip. Thanks for sharing.

Russ (Sherpa)

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Earl March 31, 2010 at 8:46 PM

Excellent advice Peter. People are generally shocked when I explain to them how little I spend per year while traveling around. Its a shame that so many people use the money excuse to convince themselves that they can't travel.

As you mentioned, all it takes is something as simple as eliminating two cups of coffee or keeping your perfectly good shoes and not splurging on new ones for no reason to start building up some travel savings.

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brian April 1, 2010 at 7:49 PM

@Head Sherpa
It seems so simple when you think about it, but not alot of people actually do it.

@Earl
Part of the issue is that it is a 'far-off' goal, which takes some discipline to stick with. If you automate saving, you don't have to worry about messing it up.
And it's Brian, by the way. Thanks for posting.

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Earl April 2, 2010 at 7:47 PM

Sorry about that Brian! Not sure why I had Peter stuck in my head…

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Daniel April 4, 2010 at 2:41 PM

hey Brian — great post! One thing we do to stay motivated is to keep a picture of the goal we are saving towards. In our case, we’ve cut out picture of some of the places we intend on visiting during our RTW, ie Kilimanjaro, Machu Picchu, Angkor, Varanasi, et al. Seeing pictures of your goals every day will encourage you to keep saving and curb spending!

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brian April 8, 2010 at 6:31 PM

@Daniel
The visual reminders are a GREAT idea for any long term goal. Folks trying to lose weight put a picture of themselves on the fridge and on the cupboard doors to get them motivated. It sure can work for travel too.

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Bobbi Lee Hitchon April 8, 2010 at 7:13 PM

Great tips on how to cut corners to save up. It's definitely do-able to RTW, but finances can be intimidating.

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brian April 9, 2010 at 10:23 AM

@Bobbi Lee Hitchon
The finances are intimidating only when you haven't actually seen the numbers. When you see how cheap it can be you realize how attainable the goal actually is.

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