40 Ways You Can Save A Lot of Money to Travel the World

40 ways

At first I was peer pressured to save as much money as I can while I’m young and with limited responsibilities. For certain, limited responsibility is a luxury that I have thanks to a very supportive family. Then I kept being told that I should work all day, every day, while I am young and able to build a strong foundation for a lengthy and successful career in the future. So basically … no, traveling the world is not merely a possibility while you are young. Or so I was told. 

I believed this for quite some time. I thought that traveling often would not be an option for me until much later in life. Traveling often while also working full time? Impossible.

My parents never fund my travels (directly, so to say). So here’s how I do it :

40 Ways I Save A Lot of Money to Travel the World.

As soon as I started working full time, I began saving a part of my money in a high yield savings account. I highly recommend GS Bank because they offer the highest APY. Money that you don’t see flowing into your account, isn’t there. Make a part of your check go into a different account and see how easily you will deal without it. I stopped drinking Starbucks and other expensive coffee. I wake up ten minutes earlier and brew coffee at home before I leave the house – this saved me up to $5 every day of the month. I stopped going out to dinner every week and instead invite my friends over for BBQ’s or wine tastings at home. I stopped buying wine in stores and participate in quarterly wine auctions for cheaper prices when buying in bulk. I learned to cook and stopped buying lunch at work. I stopped doing my nails every week and invested into an at home gel nail kit (this saves me literally close to a hundred dollars each month). 

I stopped using Uber and car service and I walk whenever I can. I sign up for every airline frequent flier program to have miles stack up, even if I rarely fly with the airline. Most of them are free and take little to no time to open – you can collect miles and sometimes transfer miles which will eventually save you money on your travels. I sign up for cash back on my credit cards. So many of these programs go unnoticed by credit card users, but I’ve managed to get back over $500 on purchases in the last year or so just by using my credit card. Having no car saves money on gas, insurance, lease/financing costs, and any miscellaneous costs associated with car travel. If you’re serious about saving money to travel, consider ditching the car for a year or two and spend that money on a few unforgettable trips. 

I cleaned out my closet and made thousands of dollars. I sold a lot of the expensive and materialistic things I owned. I can buy all of that again later in life – right now, I value experiences more than shoes, bags, etc. The more you will travel, the more you will realize how much these things really dont matter. I stopped buying expensive things, too. I stopped shopping in luxury retail stores and focused more on cute and inexpensive clothing from websites like boohoo.com and missguided.com. 

I Became a Smarter (not cheaper) Traveler.

I learned to do a lot of research  before booking. Can I find a cheaper flight? Can I book flight and hotel separately? I visit many blogs for tips and message the blogger with questions. I created a bucket list. I became very open minded to travel destinations. Sometimes my first choice is too expensive, so I refer to my bucket list to help me find something else. Cheaper travel destinations can save you a ton of money on your in-country travels.  I pack less and smarter to avoid any baggage fees. I buy my trips on Tuesday’s and Wednesday’s because price trends show that’s when they are the cheapest. I research prices on everything from food to tours before my trips. I set up  an excel spreadsheet with the latter prices to help me understand my budget. I buy souvenirs in the actual cities and local markets rather than the airport. I avoid exchanging money at banks and other locations that charge fees. Instead I use credit cards with no foreign exchange fees. I avoid tourist tourist traps and talk to locals about places to see. I research my international plan and the pay as you go plans available overseas. Sometimes it’s so much cheaper to buy a sim card in a different country rather than raking up huge roaming bills. If I do need add on’s to my itinerary I purchase it online – paying for extra luggage, seat assignment, etc is a lot more expensive when done in the airport. 

By | 2017-12-20T07:05:51+00:00 July 24th, 2016|Budget Travel Tips, tips|4 Comments

4 Comments

  1. Alexander "The Great" December 23, 2016 at 12:44 am - Reply

    Hi! Could you be so kind & please share with me your spread sheet? I have recently moved to Austin, TX and I am on quest. I happened to ran across your blog. I would like to join you on your quest to conquer world traveling. To begin 2017, I am trying to put everything into perspective and start an account for traveling. One step at a time. Any advice from you I would very much appreciate. Does it get lonely traveling alone though? Or I can just get lost into the moment I guess.

    • elona December 27, 2016 at 8:52 pm - Reply

      Hey Alex – I would be happy to help you out with a spreadsheet if you email me at elona@elonatheexplorer.com.

      I am glad you are joining this quest 🙂 I am rolling out official budget spreadsheets in 2017 with a more seamless and defined look but I can share with you what I have in the interim. It’s just not as pretty looking as I’d like for it to be !

  2. Interphos July 4, 2017 at 2:46 am - Reply

    My dream is to travel. I will try this one for sure. I want to save travel money.

    • elona July 6, 2017 at 2:38 pm - Reply

      Yes !! Do it 🙂

Leave A Comment

Web Statistics