To travel is part of everyone’s bucket list. Most Filipinos look forward to the day they can travel the world solo or with their loved one. But let’s be honest, traveling comes with a cost.
That’s why you need to find effective ways to squeeze a few pesos here and there to check travel off your bucket list. In this post are 11 ways you can save for your 2017 travel fund:
A separate bank account will allow you to properly dedicate money for travel. Start your travel fund today by opening a separate dedicated savings account for it. This will help you track your progress and stay focus on your end goal.
Good news, you can easily open a second savings account under your payroll account. Here are more reasons why you should open a second bank account:
Think of your travel fund as a monthly bill you need to pay on time. You can create a spreadsheet for all your expenses, allotting a monthly budget for each category. Believe you me this can change your spending habits and help you save better.
Bonus Tip: Track your expenses too. Be aware of your daily expenses by listing down how much you spent for transportation, food and shopping for the day.
How does it work? You choose an amount you want to save for every week of the year. For example, P50 to save on Week 1, P100 on Week 2, P150 on Week 3 until you reach Week 52. Following this method religiously means earning a total of P68,900 by Week 52. Not bad for your travel fund.
Bonus Tip: Have an accountability partner. Have someone to remind you from time to time of your commitment so you can discipline yourself more. You can also ask a friend to do the challenge with you.
If you feel like the 52-Week Money Challenge is too much, try the 12-Month Money Challenge instead. Your savings at the end of the monthly challenge will be less than if you did the weekly saving challenge. But it’s better than having no savings at all.
To do this, set aside a certain amount of money each month for your travel fund. It doesn’t matter if it’s P1,000, P2,000 or P3,000. The important thing is it automatically goes to your travel fund.
Bonus Tip: Save it in the bank. For security reasons, and for a chance for your money to earn some interest (no matter how small the amount), it is best to put your money in a bank rather than in your closet or bedside cabinet.
Use any jar you can find in your house and commit to putting your daily or weekly loose change into it. You’ll never know for sure how much you’ll end up saving by the end of the year.
Just think of it this way: If you save P20 everyday starting January 1, then you’ll have P7,300 at the end of the year. Imagine how much more it will be if you save P50 or P100 every day. Every peso counts!
Proper planning will help you find means for your travel expenses. Take advantage of online deals especially now that it is the holiday season. You can get massive discounts for your trips when you book in advance.
Try Traveloka, the flight and hotel booking platform trusted by many. You can easily find the most up-to-date cheap flights and budget-friendly accommodations especially around the Philippines and Southeast Asia.
Having a free breakfast means less meal expense, especially if it’s a buffet. Your tummy will certainly be happy with you. So, make sure to book a hotel that offers them.
To help augment your 2017 travel fund, look for part-time jobs.. Not only will this speed up your saving process but also provide you more money to spend on your next trip. What extra job you can do today?
If you can’t find additional income to fund your travels, then you can trim down your expenses and save instead. You can afford to travel if you know how to spend your money wisely. Try to cut down on the following:
Instead of spending all your 13th month pay on unnecessary items like a new mobile phone, save some instead for your big holiday next year. Slowly grow that initial fund by setting aside P1,000 each month from your salary.
Nothing is impossible if you set your mind to it. Commit to building up your savings for your 2017 holiday. Make it as attainable as possible. Come up with steps to help you achieve that travel fund goal.
Achieving more than enough travel fund is a year-round process. If you plan to go on an epic adventure next year then you must start saving money now and decide which, when and where you want to go next. Follow the 11 tips above and you’ll surely be on your way to having your dream vacation.
Can’t wait to put your travel budget plan into action? Start saving! And if you’re ready, discover cheap hotel deals and cheap flights from carriers like Philippine Airlines, AirAsia, and more with Traveloka!
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