How to Save Money for Travel

Whether you want travel for a few weeks or a few months, these tips will tell you how to save money for travel so you can go on the trip you’ve always dreamed about.

First, research the costs of traveling the countries you want to visit and then see How to Plan Your Travel Budget.

 

HOW TO SAVE MONEY FOR TRAVEL

THE GOLDEN RULES

 

LIVE BELOW YOUR MEANS

This is the most important rule to save money for travel.  Just because you can afford a nicer car or apartment doesn’t mean you need to.  And why throw your money away on material things that look “cool” when you could have amazingly awesome life experiences instead?  Change your lifestyle, simplify your life and make sacrifices.  Travel is your goal and it’s a lot easier to save money when you have a goal to work towards.

STOP BUYING SHIT YOU DON’T NEED

Stop being a crazy consumer and think about your purchases a lot more.  When you want to buy something, ask yourself- do I really need this?  Ask yourself this a few times for every single thing you want to buy.  An extra $10-30 here and there all the time adds up very quickly.

Do you really need that fancy Vitamix?  Save yourself hundreds of dollars and get a basic blender.  I’ve had my $30US blender from Costco for over 10 years and I use it every day.  When my kettle broke, I decided to save $20US+ and not buy a new one because I can boil water in a pot on the stove and save counter space in my tiny kitchen.

KEEP TRACK OF YOUR MONEY 

You need to know exactly where your money is going because it puts your spending in perspective and helps you pinpoint areas of spending that are easy to cut out.  Look at your spending and progress every month and scrutinize your budget for possible adjustments.

If you buy everything you can on debit or credit, it’s a lot more trackable than cash.  But only use your credit card if you can pay it off in full every month.

STOP TREATING YOURSELF ALL THE TIME

You have bigger goals to work towards.  Your treat is your travels, which are way more memorable than all those $18 cocktails or $150 shoes.

When I go out for dinner and drinks, I often spend significantly less than the people I’m with because for them, going out is treating themselves, whereas I’m always saving money for travel because that’s my treat to myself.  You don’t need to keep up with your friends’ spending.

 

FOOD AND NECESSITIES

 

MAKE YOUR OWN FOOD AS MUCH AS POSSIBLE

Cooking is a life skill and it’s so much healthier than going out to eat all the time.  By making you own food, you can save $10-20+/day, $300-600/month and $3,600-7,200/year.  When going out for food is unavoidable, make budget-conscious decisions.

ONLY BUY GROCERIES YOU NEED AND WILL USE

Wasting both food and money = double sadness.

SHOP AT CHEAPER GROCERY STORES AND PAY ATTENTION TO SALES

Buy food and items that are on sale, when possible.  Costco is a great place for cheap groceries and household items.

BUY THE GENERIC BRAND OPTION FOR EVERYTHING YOU CAN

Like crackers, medication, soap, garbage bags, etc.  It’s the same product, but it’s cheaper.

 

LIVING EXPENSES

 

FIND A WAY TO REDUCE YOUR RENT 

Get a roommate or two.  Or move back in with your parents, if you can survive it.

SUBLET OR AIRBNB YOUR PLACE

Definitely do this while you’re traveling, but you can potentially do this while you’re home as well.  A lot of New Yorkers do this because their rent is so high.  I have a friend in Vancouver who made $4,000US in one summer off of Airbnbing her place, while she slept in the den.  And I have another friend who has a 3 bedroom place where he rents out 2 bedrooms at a price that lets him live there for free.

 

VICES

 

PEOPLE ARE TIRED OF HEARING THIS BECAUSE IT HAS BEEN SAID 1000x, BUT CUT OUT THE DAMN STARBUCKS

Make your own.  Save $5+/day, $150/month and $1800/year, which could be a 2 month trip in Southeast Asia, for perspective.

STOP SMOKING

It’s a waste of your money and your health and it’s disgusting.

CUT WAY DOWN ON THE ALCOHOL AND PARTYING.  OR JUST STOP.

This is one of the best and easiest ways to save money for travel.  Even having casual drinks often is a massive budget killer.  Especially if you live in an expensive city.

You can still drink and party here and there, just do it smarter.  I drink, but I don’t drink super often or in large quantities, and when I party, I buy alcohol in advance to pre-drink.  Both of these factors save me a massive amount of money.  This also cuts way down on expenses while traveling too.  And I guarantee you don’t need to drink as much as you often drink in one night at a party.

Or you can go cold turkey if you’re super serious about saving a lot of money in a short amount of time.  I have a friend who stopped drinking and partying for a full year and saved thousands of dollars for his Europe trip.

I promise the drinks taste better when you’re abroad 😉

 

MONTHLY BILLS 

 

REASSESS YOUR PHONE BILL

You may be paying for a lot of features you don’t need and companies offer new deals all the time.

DOWNGRADE OR SELL YOUR CAR

Take the bus, walk, use a car share, and bike.

REASSESS YOUR GYM MEMBERSHIP

If you have an expensive gym membership, consider finding a cheaper gym, or work a few days per month at your gym to get a free membership.  Or give up your membership completely because there are thousands of free and easy online workout videos.  But don’t give up exercise completely because it’s so important to move and stay active.

GET A CREDIT CARD WITH REWARDS

Like travel perks or cash back.  As a Canadian with my TD Aeroplan visa, I was able to fly from New Orleans to Madrid for $6US and then from Delhi to Vancouver for $60US with my travel points.  Charge everything you can on your credit card to rack up the points, BUT only if you can pay it off every month because those interest rates are the antithesis of how to save money for travel.

See Nomadic Matt’s article about the best travel credit cards for Americans here.

 

ENTERTAINMENT AND SHOPPING

 

EXPLORE FREE ACTIVITIES

Like hiking, beach days, sunsets, movie and games nights and reading.

BUY SECOND HAND GOODS

Like books, appliances, furniture, and clothes.

USE THE LIBRARY INSTEAD OF BUYING BOOKS

Books are expensive at $20-30 each!  And your taxes pay for the library, so why wouldn’t you use it?

 

MEDICAL

 

GET DENTAL SERVICES DONE WHILE YOU’RE TRAVELING IN CHEAPER COUNTRIES

Especially if you don’t have benefits.  You can get your teeth cleaned in Vietnam for around $10US.  It’s safe and just as good as getting it done at home.  Sometimes when people need expensive dental work in North America, they travel to Mexico to have it done where it’s much cheaper, even with the cost of the travel.

GET DENTAL SERVICES OR MASSAGE THERAPY FROM STUDENTS IN TRAINING

For a fraction of the cost.

ONCE YOU’RE TRAVELING, STOCK UP ON MEDICATION IN DEVELOPING COUNTRIES

You can get the same antibiotics, migraine medication, or whatever medication you need without a prescription for only a few dollars in developing countries.  I spent less than $2 on medications in India, which would have cost me around $150 in Canada.  Western countries have a massive markup in prices.

 

HOW TO MAKE EXTRA MONEY

 

FIND A SIDE HUSTLE TO MAKE EXTRA INCOME

Like becoming an Uber Eats or Uber driver, a server or bartender, dog walker, or monetize your hobby.

SELL THINGS YOU NO LONGER NEED

The internet is a great place to do this.  Use Craigslist, eBay, Amazon or Facebook groups.  It’s very minimal effort and an extra $20-50 here and there really adds up.

 

FOR THE LADIES

 

As a female, I get it, you want to look the best you can, but beauty services and shopping are very expensive and they really add up within a year, so this is a really easy area to save money for travel.  And you don’t want to be dependent on these beauty services while you’re traveling, especially if you’re traveling for a long period of time.  I promise that a trip to Europe, Central America or Asia will be a million times more memorable than your new nails and new shoes.  And you’ll become more comfortable with how you naturally look, which is far healthier in the long run.  And you’ll waste a lot less time getting ready, and who doesn’t need more time in their busy lives?

STOP GETTING YOUR NAILS DONE

You can do them yourself at home for a fraction of the price.

STOP GETTING YOUR EYELASHES DONE

Your real ones are just fine.

STOP GETTING EXPENSIVE HAIR EXTENSIONS AND FILLERS

You’re beautiful without them.

GET HAIRCUTS LESS OFTEN

Find a hairstylist who can do your hair from home to cut costs even further.  I started cutting my own hair in 2020 after too many bad haircuts.  But I have curly hair, so it doesn’t have too be perfect.

STOP THE UNNECESSARY SHOPPING

Stop buying things you don’t need and shop smarter for the things you do need with sales and second hand.

 

SAVE MONEY WHEN BOOKING AND PLANNING YOUR TRIP

 

There are a few things you can do when planning and booking your trip that will help you save money on a flight and save money while you’re traveling.

CHOOSE WHERE YOU TRAVEL WISELY

Some countries are easy to travel on $20-25US per day (like Vietnam), while some countries are difficult to travel on $75US+ per day (like Iceland).  Want to travel to Croatia?  Consider Albania instead because it’s a fraction of the price and it’s exponentially less touristy and it’s awesome (and one of my faves!).

Want to go to Costa Rica?  Consider Nicaragua instead and pay a fraction of the price.  I personally did not like Croatia or Costa Rica because overtourism is a huge problem and they’re extremely expensive to travel, so they’re not even worth the money.  I left after only a few days in each of these countries.

AVOID TRAVEL DURING HIGH SEASON AND HOLIDAYS

Traveling during the high season will always be more expensive and crowded.  And Christmas and New Years is always very expensive.  The shoulder and off season can be a great time to travel because prices are lower and it’s a lot less crowded.

Research the holidays and festivals in the countries and cities you want to travel because many countries have a lot of holidays you’ve never heard of.  I’ve experienced Tet in Vietnam, Holi in India, Yom Kippur in Israel, Eid al Adha in Morocco (the second biggest holiday in Islam, after Ramadan), and Sant Joan and National Day in Spain (I had to cancel my bus ticket from Portugal to Spain when I found out it was National Day in Spain because I couldn’t afford the accommodation that was still available).  I was only aware of the first 3 holidays above and I didn’t realize how much of a headache they’d be to travel, so learn from my mistakes.  During holidays, accommodation and transportation book up, prices sky-rocket, sights are extra crowded and many places are closed (sometimes for weeks).

BE FLEXIBLE WITH YOUR DATES 

Some days can be hundreds of dollars cheaper to fly than other days, so this is a very simple way to save a lot of money.  Be flexible with where you fly in and out of because that can sometimes be a few hundred dollar difference.

BOOK FLIGHTS IN A PRIVATE BROWSER

Or on another computer completely.  Websites have a sneaky way of tracking flights and prices you’ve been quoted in the past, so they will use this to their advantage and raise the prices.

IF YOU BOOK THE CHEAP FLIGHT THAT LEAVES OR ARRIVES AT 6AM, MAKE SURE THERE’S 24 HOUR TRANSIT TO/FROM THE AIRPORT

Otherwise, if you’re in an expensive country, you could be stuck taking a $30-50US taxi to or from the airport, which may not make your cheap flight such a good deal anymore.  If your flight leaves at 6am, you will likely need to be at the airport at 4am, which means you have to leave for the airport in the middle of the night and taxis sometimes charge a surplus for this.

 

For more helpful tips for saving money while you’re traveling, see How To Save Money While Traveling

Also see How to Plan Your Travel Budget