Practical Ways to Save Money for Travel

With proper planning, learning smart financial habits and unflinching determination, you can achieve your traveling dreams.

Do you desire to travel around and experience more of Nigeria and the world, but can’t afford a trip out of your immediate location? Do not despair. Travelling is a form of social education that broadens your knowledge and adds so much life value that it should not be overlooked.  With proper planning, learning smart financial habits and unflinching determination, you can achieve your traveling dreams.

Here’s a guide on practical ways to save money for travel.

Start a savings account strictly for travel expenses: Every month, and whenever you have an influx of cash [perhaps a gift, 13th month salary etc.], put a part of your money into a savings account that you do not touch. If it’s possible, do not link this account to your internet banking to avoid the temptation of spending it before reaching your goal. Staying consistent with this over a few months will help you get closer to achieving your goal.

Calculate your monthly expenses and figure out where you can cut back: Saving is all about smart spending. It’s not about your monthly income but your spending habits. Figure out the things you need to cut on to achieve your goal, set a list and arrange your needs/wants based on priorities, cut out some frivolities.

Get a prepaid card: A prepaid card is a great way to combine the convenience of a credit or debit card with the ability to allow you set your spending limit according to your budget. You do this by loading money onto the card (how much is based on your preplanned budget), and then you use the card to spend money in the same way you’d spend using a credit or debit card. The great thing is you can keep using your prepaid card even after you reach your goal as it is valid for two years.

Travel in low season: Travelling to a place like Calabar during the height of the carnival is great but if you are looking at saving some money, opt for a period of the year where the town is less crowded as hotel rates, food, transportation, and other things will be cheaper. Same with travelling to Spain or any other destination, flights are usually cheaper off-season and it’s easier to find better bargains.

Play the age game: Some tourist hot spots like theme parks, museums and other attractions have discounts for senior, children or students. If you are traveling, remember to take your ID and membership cards with you that might qualify you for any of these. Make the best out of your age while traveling!

Bon Voyage!