If you're one of the many people who decide to ditch the grind each year and just head off to travel around the world, you'll understand that you can't just book flights and your accommodation overnight and then just leave. You may have read our previous post about saving for a short term trip but this article will explain how to save for a longer trip such as a gap year or backpacking adventure. Travelling takes a lot of planning and preparation. First and foremost comes your budget.
Set yourself a goal and remind yourself of it
Kind of like when you're on a diet and you have to keep looking at the really athletic looking people in magazines and on TV (some people even stick their 'ideal shape' to the cookie jar or the fridge to prevent themselves from snacking - by reminding themselves of the goal). Save for your travels by sticking up pictures of your planned destinations at work or at home, just to remind yourself of your goals, and why you're saving. It might not stop you from going on the occasional night-out or splashing some cash online for clothes (because you do really need that pair of shorts for trekking round the outback - I mean really it's just practical)
Don't starve yourself of cash
Also - surprisingly similar to dieting - it's a bad idea to suddenly and sharply just deny yourself to spend any cash as you're more likely to burn out and splash a big amount later on. If you start early enough, and not a month before you're due to leave for a year, you're can save little by little, still save a significant amount and still have spare to go out for your best mate's birthday or get that pair of shorts without feeling guilty (seriously, they're really practical)
Don't forget the bronzies
You might think that they're worth relatively nothing, but people throw away hundreds of pound worth of little 1p and 2p pieces throughout their lifetime. It's worth not tossing them aside if you're planning on going travelling, as you can quickly accumulate a significant amount of savings with a piggy bank for coppers in your home.
Make staying in fun
Nights out to town or the pub can force your bank balance down quicker than it took to save the money that was there, so make sure that when you do go out, you don't take your bank card - take a balance of cash which can allow you to stick to your budget. Alternatively, get everyone together with a couple of films and make a night in a bit more fun than flicking through Netflix on your own or suffering from FOMO whilst your friends go out.
Earn a little bit extra
Sell your talents, your clothes, your belongings - obviously not everything you own, but if you were ever going to clear your room of everything you didn't need or want anymore, now is the best time to do it. Any extra money you earn can go directly to your savings and will be a nice booster to whatever other income you have going into your travelling fund.
Plan for when you're 'out there'
Set a daily budget for how much you're likely to spend on things like food, accommodation, drink or 'activities' whilst you're out there. Stick to this budget. An easy way to do this is by separating out money into envelopes and using the contents of one envelope a day, keeping the rest safe in a safe. If you're looking to save as much money where you can, save accommodation costs, which are usually the highest by using websites such as coachsurfing and travellers for travellers - global communities where people sign up in order to travel the world by staying on other people's sofas (with their permission, of course).
Do you have any saving tips of your own? Why not share them with us and other readers on our Facebook and Twitter pages - and if you enjoyed this post, please like and share!
Alpha Travel Insurance and alphatravelinsurance.co.uk are trading names of Infinity Insurance Solutions Ltd which is authorised and regulated by Financial Conduct Authority: FRN 528912 © Infinity Insurance Solutions. 1 Tower View, Kings Hill, West Malling, Kent. ME19 4UY. All rights reserved