Saving money can be hard. And with travel being a luxury and not a necessity, many families struggle to come up with extra cash for their next trip. But with a little planning and thoughtful intention, anyone can save up for their next holiday.
Saving money doesn’t have to mean missing out on all of your favorite things, or not traveling for two years to save up for one getaway. Use these smart tips on how to cut expenses and save money for your next trip.
Bike, Walk, or Use Public Transit
Instead of paying for gas (especially during expensive price spikes), try using other means to get around town.
Depending on how far you have to go, ride a bike or walk instead of driving.
If you’ve yet to buy or lease a car, perhaps consider holding off to save up money. Most cities and towns have some sort of public transit that you can use for extremely cheap. Carpooling is a great option, too – offer to pay a small fee in exchange for a ride to and from work each day. You’ll also be helping to save the environment!
Save While You Sleep
Apps exist that allow users to save money while they don’t even realize it. Get help saving money effortlessly by using apps such as Acorns, Digit.co, Level Money, and Mint.
After connecting with your bank account, you can control how much you want taken out. Before you know it, you’ll have a few hundred dollars saved up for your next trip.
Cook at Home
Eating out is expensive. To help cut expenses, stop eating out and start cooking at home. The average cost for one meal when eating out in the United States is a whopping $32.60. By cooking your own meals, you can easily make a dinner for four that costs $10 or less.
Reduce Energy Usage
Many people waste energy in their own home without even realizing it.
Do you keep your electronics plugged in when you’re not at home? Do you turn off all the lights and television when you leave the room? Small tweaks can result in big changes in your energy bills.
Set timers so you don’t forget to turn off electronics. If the weather is nice, open the windows and turn off the air conditioner.
Stop Paying for Services You Don’t Use
Let’s be real. When’s the last time you’ve actually been to the gym? If the answer is more than three months, it might be time for you to consider ditching your gym membership.
To cut costs, cancel subscriptions, services, and memberships that you don’t really need. Trim is an app that can help identify those services and will automatically cancel them for you. You’d be surprised how much of your budget is put towards memberships you don’t use.
Use Travel Credit Cards
When you’re getting ready for your next holiday and purchasing tickets, hotel rooms, and travel gear, use a travel credit card to get points for all of your purchases.
Generic travel credit cards such as the Bank of America Travel Rewards and Chase Sapphire Preferred Credit Card allow you to earn points and miles that you can redeem for cash or at multiple airlines or hotels.
Unlike specific airline credit cards where you can only use your earned miles with that airline, these generic types of cards will let you be more flexible with your spending later on.
Start Cutting Coupons
It may seem like a thing of the past, but cutting coupons is still a great way to save more money than you’d think.
Since the “extreme couponing” TV craze, many websites are available that will tell you exactly where to get a specific coupon, and what store to use it at. Getting free items is easier than you think, and taking dollars off your grocery bill each week will quickly stack up.
Search for “coupon matching” in stores near where you live to get started.
Cutting expenses to save money for your next trip is all about taking small steps. Minor adjustments in your budget now will result in large savings later on. Before your next holiday, use these smart tips Easy Money Saving Tips to Help You Afford Traveling.
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