A common myth many people believe is that you need to be rich to travel internationally. The truth is that exploring the world is totally doable, even if you’re more frugal with your income. Gone are the days of gazing out your window and dreaming of adventure. Lean into your wanderlust and learn how to save money for your first trip abroad.
Set Your Intentions
Setting your intentions should be the first thing you do while developing a financial plan for your travels. Your goals should extend beyond choosing a destination; why do you want to travel in the first place? Are you looking for a thrilling adventure, a relaxing vacation, or desiring some self-discovery? Answering these questions will help you prioritize and give you tangible goals to work towards.
Determine Your Budget
Once you’ve set your intentions, you’ll need to determine your budget for your trip. Depending on your destination and activities, your budget could vary. Spend some time speaking with travel experts and exploring travel blogs to get an estimate on how much money you’ll need to travel comfortably.
Establish Healthy Habits
If you want to learn how to save money for your first trip abroad, establishing healthy financial habits is vital. Understanding how to be better with money will help you find opportunities to cut back and pocket some extra cash. Something as simple as giving up your expensive coffee order for a homemade option could dramatically impact your savings. Being financially literate will allow you to make better choices that give you more wiggle room on your adventure.
Start a Travel Fund
Start a travel fund by opening a savings account specifically for your trip. This account should be the first place you withdraw cash from when purchasing tickets, booking excursions, and buying supplies. Many banks allow you to set up automatic transfers, so you can save money without lifting a finger. So, if you want to plan a budget African safari, for example, you can fund your trip without dipping into the money that supports your livelihood.
You shouldn’t have to break your bank to experience the world. Consider adopting some of these financial tips when preparing to travel abroad so you can have a once-in-a-lifetime adventure while being financially responsible.