OK, so you have your budget for the time you’ll be traveling.  Now, when do you want to go?  Tomorrow?  Next week?  Next year?  Simply put, when you get the money, you can go!  If you already have it, that’s awesome!  If you’re like most people, this kind of cash isn’t just laying around the house.  What’s it going to take to get this money saved up?  Look at it realistically and once again, make a plan!  Follow the steps below and check out the tips.

 

1.  How much can you save right now on a weekly basis if your lifestyle didn’t change?  Write that number down on a sheet of paper.

 

2.  What kind of things can you do to cut costs without drastically changing your lifestyle?  How much will this add to your weekly savings? Below is a list of examples that will demonstrate what I’m talking about and what kind of an effect it can have.

      • Start shopping at the cheaper grocery store that’s a mile away rather than the expensive one right next door.  
      • Buy fruit that’s in season
      • Buy off store brands on the stuff that has no difference in taste or nutritional value.  ($15/wk)
      • Eat out once less per week for dinner and bring your lunch to work.  ($25-30/wk)
      • Drop your monthly bills:  Turn off the lights when you leave a room, cut your own lawn and drop that special cable channel package.  ($10-20/wk)
      • Find a cheaper living situation.  Several things you can do here:  Get a roommate or rent out a room, find a smaller or cheaper apartment, move in with the parents if you’re up to it.  ($50-100/wk)

-By doing all of the above, you will save $100-165/wk extra!  This doesn’t have to be a dramatic lifestyle change, either.  It may seem like you're just cutting your lifestyle, but remember you’re saving for a trip around the world, not getting a demotion.

 

3.  What other habits do you have?  Is it something that you’re willing to sacrifice or even cut down on if it moves your trip closer?  Go ahead, put a number on it, how much will it save you on a weekly basis?  This may help you decide if it’s worth it to cut down or even quit.  Write this number on the piece of paper right below the savings that you already had.

 

4.  Right now, you should have a number that will show you how much you can save every week.  What else can you do to add to this number?  It can be a weekly number or a one time bonus.

      • Get another job where you work once or twice per week?  That could put another $100/wk into your savings, or even more.  Maybe even get the job with some type of company that will help in cutting costs for the trip, use your imagination.  An airline?  Somewhere you frequently buy clothes and it will get you a discount?  Every bit helps.
      • Could you sell your car before you go?  If it’s not going to be used, it’s just going to depreciate.  If you’re gone for a month, this might not be a good idea.  But if you’re gone for an entire year you’re not going to want to come back to a car that’s been sitting in the driveway and rusting all year long. 
      • Holiday/Birthday/Graduation money?  Everybody has a family member that gets a sweater for them every holiday they get a chance.  You may have to reach back and find some seriously hidden tactfulness, but maybe they can get you that money belt this year or get with some other family members and get you a backpack.

-Don’t cut your lifestyle to the point of being unhappy with every minute of every day.  Sacrifice is fine, but don’t forget to have fun while going through this part.  Once again, be honest with yourself.  Don’t waste an entire year in order to take a year off to travel.  Have fun while going through this, you’ll look back and talk about how you refused to drink anything but the specials at the bar, but don’t hold yourself to skipping a drink with your friends because it’s not going to be worth it.

 

5.  Open a savings account especially for your trip.  No withdrawals until you begin to buy plane tickets, insurance or shots!  Every time you get paid, go ahead and put what you said you will into the savings account.  Be disciplined with this.  If you’re serious about this trip, you will have no problem doing this.  

 

-So where are we now?  You know how much it’s going to cost you.  You know how much you’re going to have to save every week to get there.  How much longer do you have?  Don’t delay, make the savings a habit. 

 

-The itinerary is set, costs are accurately estimated and you’re on a savings plan to make it happen.  What the heck do you do now other than wait?  That could be all you do, just save and wait.  Have some fun while you’re at it.  Relish in the fact that next year at this time you’ll be at a festival in Spain or climbing a volcano by moonlight.  Spend some time staying up on local events in the places you’re going to be visiting.