backpacking money saving tips

When I ask people if they would like to go traveling, they usually respond by telling me they can’t afford it and consequently never end up going as they feel they can’t save enough money to fund their travels. Having been traveling myself, I believe it’s not about the lack of money, but the lack of desire and determination to go traveling and with a few simple lifestyle changes and planning you can very easily save enough money to hit the road…

1. Decide how much you need to save and when by

Before anything, you need to decide how much you need to go traveling. There’s so much information out there which can help you with this. First of all, look at how much the flight would cost, followed by a daily budget. This will obviously differ depending on which country you intend on visiting (e.g. a daily budget in India could be £10 whereas a daily budget in Australia could be £100.

money saving tips for backpacking the world

2. Sell unwanted things

Do the math, if you sell 20 things at £10 each, that’s already a nice £200 (that might even cover your flights depending on where you heading) towards your trip. Literally, go through your bedroom and round up all the things you no longer use and advertise them on eBay, Facebook or Gumtree.

Backpacking tips

3. Give things up

Take a look through your bank statements, and highlight the things that you could live without. For example, I went through my bank account and seen that I was paying a Netflix subscription every month, I soon cancelled this and the money I saved, I put into my traveling fund. Other things may include; cutting down on cigarettes, nights out (limit these to once a month), meals out, gym memberships and believe it or not grabbing a coffee in the morning from Starbucks soon adds up over the month.

4. Give yourself a monthly budget

Take a bit of cash out at the beginning of every month to get you through the month and avoid using your card and spending any more than what you’ve taken out.

backpacking tips

5. Pay off any debts

If you owe any money, pay it off before you start saving. I go by a very simple rule “debts usually cost more than savings earn” cancel them out and you will be in a better position to save.

6. Travel and earn

If you struggle to reach your target, why not consider a working holiday. There are thousands of jobs out there for backpackers to pick up, such as fruit picking, hostel workers and teaching English as a foreign language. Some of these can see you earning in excess of £1,000 a month, which obviously depends on the amount of time and hard work you put into it.

money saving tips for traveling

7. Lose the car

Again, do the math. Add up exactly what you are paying for every month with having a car (e.g. insurance, tax and petrol) and by getting rid of your car, you could be saving a small fortune. Learn to love the bus again, or even cycle to work to get yourself in good shape before you set off on the road. Once you ditch the car, you will soon realise that you didn’t really need the car as much as you thought. BUT if you do need a car, get your hands on a cheap little run-around which is cheap on fuel and insurance.

8. Use coupons and vouchers

A majority of the big supermarkets such as Tesco offer points every time you make a purchase. Check how many points you have and use it towards your next monthly shop. Also, scan local newslpapers and websites such as www.vouchercodes.co.uk for some right bargains.