We have a goal with my boyfriend to become a full-time traveler. We set a date for this summer after I graduated. I thought it could be beneficial for others if I share the ways I’m saving money for travel.
1. Create a plan
The first step for me was to create a plan. We calculated how much money do we need in a month on average. Then I also estimated how much passive income comes from my online business and I took the difference and this is what I need to save. I only save this money for the first couple of months as I’ll work on building other passive income sources while we’re traveling. But I will tell more about it later.
2. Sell stuff I don’t need
I have so many clothes, jewelry, electronic equipment, books and things that I have in my room but I’ve never used, or I don’t need them anymore. I sell them. I won’t take them with me to our traveling adventures. Then why don’t make money from it?
3. Needs vs. Wants
This is a hard one. I tracked my expenses and created two columns on a paper: things I need vs. things I want. Then I wrote every cost in one of the columns. After that, I determined to stop spending money for things I don’t need. Here’s what I found:
Eating out is not something I needed but something I wanted. Traveling is something I want even more, so I realized that I could cook at home and it’s cheaper and fun too.
5. I don’t pay for cable
Watching TV is a waste of time. If I need entertainment, there is the internet. I can find free videos and everything if I need some entertainment.
6. Use public transportation and buy season ticket only when I need
I work at home and go to university. However, I took my exam in December so that I have almost a 2-months long break. In this period, I don’t buy a season ticket. If I want to go somewhere, I walk or bike. I’ll only buy a season ticket when the next semester starts. I won’t go by car as I don’t want to pay for gas.
7. We moved to a cheaper place
We moved to the suburban as it’s not so far away from the city, but it less expensive to rent a home there, then in the capital. Yes, traveling to school takes longer but it worth it for me.
8. Inviting my friends
We used to go to restaurants and plazas when we wanted to meet, and it was always a lot of money. Now we meet in each other’s home and buy foods in the supermarket instead as we can save a lot of money that way.
9. Working when I’m traveling
As I mentioned in the beginning, I already have an online business where I receive passive income month after month. However, I am working on another project to have more sources of passive income. I wrote a blog post about my existing business, so if you’d like to check it out, click here. If I’m ready with the next project, I’ll share that with you as well.