Ok so you want to go on a trip but your not sure how your going to fund the trip, what do you do? Well here are some tips for what I am doing to fund my trip
1. Do some research, find out average costs of accommodations and travelling to your destination of choice (remember peak season prices will be higher so make sure you check for the time frame you are planning on travelling).
2. Once you have an idea of how much you should save figure out how much you can (meaning it will not cause you any hardship to set aside this money) set aside each week/month and long it will take you to save that amount by putting aside a certain amount of money. You now have your goal.
3. Next up is optional but I would suggest having a savings account strictly for travel. I use Capitalone360 (formerly IngDirect) and they give you the option of having multiple saving accounts that you can easily open online with no minimum required. Keeping a separate account will help you avoid the temptation of using the money, and I really like that fact that you can give each account whatever name you like "Travel Fund" or "life Saver".
4. Take a look at how your spending your money overall and see if there are any unnecessary purchases you can eliminate. A good way to do this is to keep a log for two weeks of everything you buy. Once you see how your spending your money you may be surprised at how much all those little luxuries add up to. For example, i was drinking a large $2.50 cappuccino every workday; that's $12.50 a week, $50 a month! I switched to drinking the free tea from my job 2-3 days of the week and I am saving $20-$30 a month. Or if you have to have your coffee try downsizing. I could still drink my cappuccino everyday and save $15 if i downsized to a medium.
5. Last but not least, is just a reminder to squirrel away every dollar you get until you reach your goal. Get a part-time job or do some free lance work. Find a dollar on the floor? add it to your travel account. Reached a bonus from work? add it to your fund. Every dollar counts and with perseverance you will reach your goal.
