If you love to travel (and who doesn’t?), you’ll well know that a lack of funds is most often the biggest obstacle to adventure. While very few people can finance a vacation every other month, there are some hacks, tricks and tips at every intrepid explorer’s disposal which could grant you more license to do what you love, where you love. So, next time you’re breaking open the piggy bank with sand and surf on your mind, bear these ideas in mind; our 6 IDEAL ways to fund your next travel adventure.
BECOME AN AIRBNB HOST
If you’re lucky enough to have an extra room, floor or even house which regularly goes unused, first of all, could you lend us some money? Secondly, have you considered renting them out in Airbnb? Renting your spare room out, or even your own one while you’re away, is an ideal way to fund your next trip. Moreover, there’s more than just pocket money to be made in the sharing economy, in fact, there’s more than just money to be made, full stop. There’s friends and memories abound too, if you host with open arms and gusto.
PLAN AHEAD
As simple as it sounds, you can’t save money retrospectively for your trip. Hindsight is a wonderful thing, but once pounds have been spent, they’re spent and it’s gone. So planning ahead is the only really meaningful way to save some serious coin. Little and often is a great philosophy to keep when you’re trying to save, and cutting back on lots of smaller outgoings will go a long way.f you’re peckish, wait till you get home to eat as opposed to picking up a snack on the way home. If you’re thirsty, go for a simple bottle of water as opposed to expensive fruit juice.
So you can eat well at great restaurants and indulge in new dishes when you’re away on your travel adventure, cut back your spending at home on food. This means no unnecessary trips to the coffee shop, no takeaways and making your own lunch for work. Getting busy in the kitchen is one sure-fire way to save money. Bulk buying fresh vegetables and meat – cheaper, of course, than single items – allows you to cook larger batches of whatever takes your fancy, saving money on lunch and dinner further down the week
REFINANCE HIGH INTEREST LOANS
Another option to consider is refinancing high interest loans. You don’t have to be fancy footed on the FTSE to pull this off. Indeed, this could be a mortgage you got right after uni when your credit wasn’t as established as it is today or even private student loans you used to get through graduate school. Use the extra money each month you now have because of the lower payment to save for your next travel excursion.
PICK UP SIDE WORK
One of the best ways to make a little extra money is by putting in some extra hours somewhere deep in the gig economy. For example, driving for a ride sharing company, such as Uber or Lyft, in your spare time can be a great way to earn the extra cash you need to take a trip. Just be sure to put your earnings in your special vacation savings account, so you won’t spend it elsewhere.
LOWER YOUR HOUSING COST
This can be done in a number of ways. If you rent, move into a smaller place or into an apartment that’s more energy efficient. If you’re a homeowner, moving may not be a viable option, but changes to the home can help you save on utility costs. By investing in some smart home devices, such as a smart thermostat, you can get a more precise control over your energy usage. When you start getting those lower utility bills, take the difference and put it in your savings account which you opened after reading the previous paragraph.
USE YOUR CREDIT CARDS AS AN INVESTMENT TOOL
Take advantage of rewards and points offered by credit cards to get the most out of them. While you might pay higher interest on purchases, the airline miles and reward points you earn may be worth it, because it will help you spend more time traveling. Even taking advantage of new customer bonuses can help you build up a nice nest egg for your next trip.
