Over the last couple of years, people from all over the world are spending more and more money on traveling, and less and less on fun items. This is especially true for the millennial generation. Think about the last time you got on one of your social media accounts. How many posts were about a friend you know who traveled to China, Hawaii, or Mexico? The trend that was once about having the coolest car, video game console, or most stylish dress, is now about making memories through travel.
Another question you might ask is, how can all my friends afford to travel, and how can I? There isn’t one simple answer to these questions. Some people might not actually have the money but do it anyways. Some people might have saved up for months. Regardless of how they do it, there are many creative ways you can save to do it also. Here are five creative ways to save money to travel to that dream location more often.
Sign Up for Rewards Credit Cards
One of the biggest expenses in traveling is the airline tickets. Plane tickets to many of the great tourism locations around the world cost anywhere between $500-$1200. During the last several years, many credit card companies have offered frequent flyer mile rewards to those individuals who expend monthly fees on their credit cards and pay them off. After one to two years, you can earn enough points to travel places for free.
If you have the discipline to put all your expenses on a credit card each month and not go over your monthly budget, then look into rewards credit cards. The key is being able to pay it off each month, or it’s not going to be worth it.
Open a Dedicated Savings Account
Another idea is to open a savings account that is dedicated only to traveling. Make sure in the initial setup stage to see if there are any balance penalties, and then set up automatic transfers at the beginning of each month. By setting up automatic transfers, you make sure you save for traveling or emergency savings, and then the remaining amounts go towards other expenses. Each month your account will start to grow, and that money will be set aside specifically for traveling when the time presents itself.
The Trusty Change Jar
Perhaps the easiest and least recognized way of saving is by “collecting your pennies.” In the article Nine Creative Ways to Save for a Vacation, Ed Hewitt shared a story of when he took a large pretzel jar full of change to bank, and came home with about $500. The next time you have spare change, grab a jar and start putting your coins in it. You could have the same result.
Sell Your Stuff
When was the last time you walked through your home and noticed that you don’t use half of the things you own? Now’s the time to get rid of it all. Host a garage sale or go with the online route and post it all on craigslist, eBay, or Facebook garage sale groups. Facebook groups are very easy to use and reach a much larger audience.
Use Your Car to Make a Little Cash on the Side
One last idea is to use your car as a taxi to earn some cash on the side. With the new Uber app, you can easily create an account and easily find people looking for taxi services. The concept of the app is simple. People input their address, billing information, and desired location. The Uber driver sees the request and can claim it. Payment is made through the Uber app.