8 July 2024
Are you thinking about your next travel adventure and wondering if you can afford it?
The idea of traveling should not leave you feeling stressed and worried about the dent the trip will leave in your wallet. Rather, you should be excited and inspired to go, get your passport stamped and create travel memories. I am excited to share three things you should do to plan and save for your next adventure.
A question I am frequently asked is ‘how do you afford to travel because traveling is expensive?’
While many trailblazers think that traveling is not affordable, my answer to this question is always the same. You need to plan, budget, save for the trip, and GO!
My secret to traveling comfortably lies in PLANNING ahead because like Benjamin Franklin wrote, ‘If you fail to plan, you are planning to fail!’ You need to plan where you want to go, determine how much money you need and how you plan to save for the trip, because let us be honest we already have a lot of commitments with our money.
So, where do you start?
# Identify the destination
Identify where and when you want to go, and commit. By identifying the travel destination, you can then start planning for the trip. This allows you to consider the following factors which include, but not limited to those that will impact your wallet.
- When do you want to go?
- Who are you going with?
- How long is your stay?
- How do you plan to get there?
- How much are you willing to spend?
Depending on whether you are traveling locally, regionally or globally, it is important to determine the right time or season to visit the destination because some places are more expensive during specific seasons e.g. Europe or the US are more expensive during their summer season starting in June to August. Do research to determine which time of the year is most suitable to travel to avoid spending more money, dealing with overcrowding or struggling to find accommodation.
When preparing to travel, lay out all your clothes and all your money. Then take half the clothes and twice the money.’
Susan Heller
# Prepare a travel budget
Traveling requires that you have money to cover transportation, accommodation, meals and activities. Whether you are driving or flying to the destination, sleeping over or doing a day visit you need to have enough money to cover all your expenses. Consider the following questions when preparing your travel budget and get quotations for all the travel expenses.
- How much do you want to spend on fuel, accommodation, activities and entertainment?
- Is this amount per person or the entire family?
- How much time do you need to save for the trip, two months or three months?
- How much are the contributions, per person?
- Do you have contingency savings to cater for unplanned expenses that may arise such as punctures or variances in prices?
- Have you taken care of the regular household expenses such as rent/mortgage, loan instalments, groceries and utilities before spending money for the trip?
Prepare a realistic travel budget, determine how much to save weekly or monthly and consider opening a travel savings account to help you track all your savings. The more money you have for the trip, the better the experience (usually lol!).
# Book in time and secure your spot.
To make the most of your travel experience, take the stress away and consider booking and securing things like accommodation and flights on time. The earlier you book; the cheaper the prices, well usually. By booking early, you also secure the best rooms or seats on the flight, allowing you to focus on other elements of the trip such as packing and preparing the itinerary. When choosing where to stay, however, read the cancellation policy first and make sure you are covered.
Personally, I believe that by doing the few things and doing them right, you will be well prepared and ready for your travel adventure. So, go on and plan for that escape. You’ve earned it!
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