How to Save Money for Your Next Adventure Trip?

Traveling the world is a dream that almost everyone has. According to Phocuswright, 36% of travelers rated travel as an essential spending priority. The sheer excitement of waking up in a different time zone from yours, trying out the cuisine specific to that location, and interacting with the locals and how they live their lives is an exhilarating feeling, and nothing can make you feel more alive than that. 

It’s no surprise that in 2019 alone, the total outbound number of tourists from the U.S was 99.74 million. People love traveling.

While everyone’s financial capabilities may differ when it comes to vacations and trips, most of us have to save for a couple of months to years to make that dream come true. Traveling is expensive — that’s a fact, and having a clear budget before embarking on your journey saves you a lot of trouble.

Some of you can afford to stay in luxurious hotels with all the bells and whistles. I’m talking about unlimited room service and the whole nine yards when it comes to minibar privileges. While others, without proper savings that have probably taken blood, sweat, and tears, may end up in a rooftop tent that’s within your budget. But you’d be surprised how delightful that experience is.

Regardless of how and where you spend your nights during the trip, being in a foreign place and not having enough money to spend sucks. If you’ve been looking into ways to save more money for your next trip, take a seat, you’re in the right place.

1. Travel Apps Will Do the Legwork for You

Airline tickets to a premium destination can cost an arm and a leg, but if you book yours with the help of a travel app, you’ll save a ton of cash, and there are other benefits too. Hotel and flight prices fluctuate every day, and keeping up with these fluctuations is hard because you’re working. That’s where the apps come in. Apps like Hopper will help you analyze billions of air ticket prices daily and give you the best time to book both your flight and hotel.

Most of them are very easy to use and work the same way. All you have to do is put in the day you’d like to travel, and they will tell you whether to buy tickets or wait for a better price. If the price is optimal, they also give an alert. Using travel apps means you’ll have saved more money on transport and have enough to do more activities when you reach your destination.

2. Don’t Book Early.

If you wait for too long to book your flight or book it too early, it can be pretty expensive. You may think it’s wise to book six months ahead of time, but that could be a disadvantage because airlines set their prices conservatively.

The best time to book your flight is at least 25 days in advance. This is also the case with hotel prices. They can fluctuate as much as airline prices do. Book your hotels two or three months in advance to be on the safe side.

3. Get a Subscription to a Savings Newsletter

Going online and searching for travel deals and coupons will take you hours, but the deals come to you when you use newsletters. These newsletters can save you more than $ 500 on air tickets alone. 

The research is done for you, and all you have to do is read on the cheap flights instead of finding them personally. Sometimes airlines sell tickets for way less than it was intended. For example, you can get a return ticket from New York to Rome for $ 130. These prices are definitely from human errors like mistypes, but people have been piggybacking on them for the longest time and finally getting to travel to their dream destinations.

4. Convince Your Friends and Family to Chip In

It can be challenging to sell your friends and family into financing your trip, but what’s the harm in trying? If you’re planning a trip, you don’t have to cater to all your needs. Sit down with your family and convince them to give you a boost as a birthday or Christmas present.

You could also plan a garage sale, where your family members have to donate some belongings for you to sell and support your dream. The ideas are limitless. Just be creative in how you ask them for help.

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5. Create a Travel Savings Plan

One best way to save for your trip is to set money aside on a schedule. First, start by finding out how much you need for the accommodation, flights, entertainment, meals, and miscellaneous expenses. 

You can do this by figuring out exactly how many days you’ll be staying. It’s simple math. A rough estimate of how you expect to use it every day will give you a clear picture of how much you need to save. 

It’s also a great idea to save a little bit more than what you initially plan for emergencies and just in case you need it. After all, nobody ever regretted having more money than they anticipated.

Conclusion

Hopefully, these tips will get you on the right track to successfully saving for your trip. Don’t be afraid to use your hard-earned money and enjoy the time you spend there. With 80% of all U.S. domestic trips for leisure in 2019, enjoy every cent you worked for. All we ask is that you use it a bit more wisely so that you don’t have to cut short your trip because of insufficient funds.

The views expressed in this article are those of the authors and do not necessarily reflect the views or policies of The World Financial Review.