Figuring out how to save money for travelling can be a daunting challenge.
The most common excuse of people that can´t save money for travelling, is the lack of money.
We´ve been in the same place where you are probably right now. Your expenses are high, incomes are low, and there is not much to save from.
When we first decided to go travel, firstly we had to figure out how to save money for travelling. At the beginning, it seemed like a hard task, but we were very adamant to try every possible way to save money for travelling. We check our expenses, we tried to find second jobs, we did adjustments in our budgets and so on. The problem is, that those adjustments usually need time. Few people realize that there is a quick solution and more importantly that it lays right in front of your nose.
Even though we had perfectly prepared budget, we quickly realized that we have a leak in our budget plan. And that leak´s name was everyday little expenses.
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Are you also wasting money?
We all are guilty of wasting money. Whether it´s everyday coffee on the way to work, occasional snacking or eating out. We all spend money on unnecessary things. The temptation to spend money on small daily stuff today is, unfortunately, stronger than trying to save money for travelling. These everyday expenses also feel so little, unimportant, they almost seem like they don´t even matter. But they do.
In fact, have you ever tried to calculate how much those daily expenses cost you every month? These daily expenses can quickly add up and can cost you hundreds of dollars through the month.
Just calculate how much money you would have if, instead of buying everyday coffee, you save all those money for travelling. Or use that money to pay off your credit card debts. And that is the whole point, those expenses seems like a little bit of money, but when you add them up, it can be a lot.
How to lower your everyday expenses?
Firstly, we reviewed all our expenses according to our bank and credit card statements. That way we were able to identify the biggest expenses. Let´s have a look at out daily expenses we used to be guilty of. Try to review your daily expenses to find out where you have a room to save some money.
1) Food waste
Unfortunately, most of us don´t realize how much money we waste on food leftovers. We used to do grocery shopping once a week, usually on Sunday. That way we were able to save time during the week. But at the end of each week, we realize that we bought too much food and we had to throw away almost a quarter of a food we had bought. Such a waste of money and food. When we calculated it, we found out that we were wasting around $40 a week.
Possibility to save money for travelling: $160 a month
2) Everyday coffee
We are huge coffee lovers. So we usually bought two or three coffees a day, each. That makes 4 to 6 coffees a day. In Australia, the average costs of a coffee are $3,5 for a coffee. Just realizing that we were spending $14 to $21 a day on coffees was really eye-opening. At the end of the month, we were able to waste around $250 in coffees while we were fully capable of making our own coffee. Just pure laziness and convenience.
Possibility to save money for travelling: $250 a month
3) Snacking
Same story as with the coffee. Just like we were able to spend a few dollars a day on coffee, we were able to spend money on snacks too. During the day, it feels like nothing, a little cookie here alongside with a coffee, a hot dog on a way home…Just try to calculate how much money you spend a month on occasional snacks.
Possibility to save money for travelling: $50 a month
4) Eating out
We didn´t use to eat out very often, just a few Sunday lunches a month. Instead of cooking our own Sunday lunch, we went to some restaurant. It could easily add up to $200 a month.
Possibility to save money for travelling: $100 a month
5) Memberships
Have you ever paid for a membership that you no longer need but you still pay for it? Or do you use a gym membership? Instead of working outside or working out at home, I used to pay for a membership in a gym. That membership cost me $20 a month.
Possibility to save money for travelling: $20 to $40 a month
6) Nights out
Friday´s nights are a proven killers of savings. The worst thing you can do is to go out with your credit card or with an access to all of your savings. Saturday morning are painful enough even without realizing that your savings are all gone 🙂
Possibility to save money for travelling: $100 to $200 a month
7) Fuel
We used to use a car all the time. Even for the distances that could easily be walked on foot. Think about it, how much money you could save for travelling by walking or riding a bike.
Possibility to save money for travelling: $100 a month
8) Lunches
Yes, it´s time-consuming to prepare your own food every single day, but it also can save you some serious bucks. Making your own food can save you a lot of money for travelling and it is even healthier. Set aside a few hours during the week and make a load of different dishes. Store them in a fridge and you are ready for the whole week. That way you know you have food ready to eat at home and you will not be tempted with takeaways on the way home.
Possibility to save money for travelling: $50 a month
9) Other little expenses
It´s not always the most obvious expenses that ruin your budget. Expenses like Netflix, parking tickets, hairdresser, and others are hidden costs that can easily add up.
Possibility to save money for travelling: $80 a month
Just to say that we were amazed by how much money we were spending on absolutely unnecessary things, is an understatement. We have been throwing away as a couple almost $900 a month!! That´s astonishing $10 000 a year.
That´s a massive waste of money that could be used for travelling instead. It just proved to us how little we pay attention to the small expenses, even though those little expenses are so crucial.
To sums it up, even the small change in your spending habits can have a huge impact on your savings. It´s those little things that can destroy your travel plans, so it is very wise to watch them closely.
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