Witnessing the wildebeest migration, spending time at Giraffe Manor and visiting Easter Island, just to name a few, were all amazing experiences. Traveling to these remote locations and having these once in a lifetime experiences would not have been possible if I had viewed those locations as unattainable simply because of the cost associated with traveling there. I knew that these were destinations I wanted to visit and I knew in my heart they were within grasp but I needed a plan.
During a recent conversation with one of my nieces, I was able to lay out for her just how I managed to save the money for these ventures. Once I had done the research and identified where I wanted to go, the experiences I wanted to have and the potential price tag, the next step was figuring out where this money was coming from. I explained to her that here was where I had to be honest with myself and it came down to one loaded question.
– Do you want new things or new experiences?
How about you? What matters most to you? Material things or once-in-a-lifetime experiences? If you answered “experiences”, you’re ready to take the next steps.
– Differentiate a “want” from a “need”
Take an honest look at your finances and make two columns: necessary and unnecessary. That biweekly mani-pedi or your coffee or cigarette habit represents the funds for a potential trip. For most people, the top drains on their bank account after their rent/mortgage are: vehicle payments / maintenance, designer clothing and shoes, social eating and drinking, salon visits / cosmetics, smokes.
Now, some may say, I can’t live without my ________________ (you fill in the blank with your personal vice). I’m not saying you must live an ascetic lifestyle denying yourself things you really enjoy. I’m just saying tighten up or cut out those things that you listed as unnecessary on your list and re-direct those funds toward your travel plans.
Instead of a bi-weekly mani/pedi, splurge on that once a month and touch it up yourself at home in between. If you have a Starbucks habit, start making your coffee at home and see just how much you can save in a month. Some people like changing their vehicles every year or don’t think twice before dropping $300 on the newest kicks. An honest assessment of where your money is going and finding ways to scale back unnecessary expenditures will be key to jumpstarting saving toward your goal. I had to make some hard decisions and stay focused in order to make things happen, but once I set things in motion, I was actually surprised at how quickly and easily things began to fall into place. A series of small changes quickly add up.
– Set up a separate Travel Fund
Every time you get paid, it gets paid. Even if your finances are tighter than a kettledrum, making even a small contribution regularly will ultimately yield a reward – if you are consistent.
To ensure I stayed on track, I opened a checking account with CapitalOne and started funneling money into that account every month without fail. Soon I had a nice nest egg to fund the trips I had been dreaming of and since this was a separate account, I could easily track my progress. If for some reason, I found myself low on funds during a given month, I tapped the account but made sure I “paid myself back” the next time around. I also promised myself I would never use a credit card to fund a trip. If the money wasn’t in the Travel Fund, the trip wasn’t happening until it was. This would ensure I never spent more than I had or went into debt trying to fund my lifestyle.
– Manage the Expectations of Others
If you have a supportive tribe (friends and family who push you to do better, be better) get them onboard by letting them know that you’ve set a goal for yourself and would appreciate their support. Please note: the term “support” here doesn’t necessarily mean monetary support.
Once you have identified a “want” from a “need”, invariably your habits will change and this will likely affect your friendships. For instance, if your friends know you’re saving for a trip to Morocco, hopefully, they’ll understand when you bow out of a Girls’ Weekend to Cancun or that bottomless brunch invite. If your tribe is really tight, they may just treat YOU to brunch or other activities because they respect your goal but still want you at the table. How’s that for Friendship Goals?
Interested in learning other ways to save for trips? Interested in other travel tips? Check out my article titled Travel Tips…A Lot of Travel Tips.
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Great advice, Latonia!👍
Thanks, Arlene!