6 easy ways to save for your next travel adventure
Look for ways to cut costs — or even a new way to manage debt.
Contributing Writer at Tally
December 31, 2019
Traveling the world is incredible, but it can also be really expensive.
And, unfortunately, not everyone is made of money.
Just because you might not earn six figures every year doesn’t mean you shouldn’t be able to explore some of the best places on the planet. The good news is that a few tricks can help you go a long way toward funding your next trip — and many more beyond that.
Here are six easy ways you can save for your next trip. Let these ideas become habits and never worry about paying for your next vacation again.
1. Maximize your credit card usage
As long as you’re able to pay off your monthly balances on time, using credit cards that offer cash back and travel reward points can help you save a lot of money for your next trip.
These days, there are a ton of cards that offer impressive rewards. Here are a few of them to give you a better idea:
The Amex Blue Cash Preferred offers 6% cash back on groceries and streaming services, 3% on gas and travel, and 1% on everything else.
The Chase Sapphire Reserve offers 3x points on dining and travel expenses.
The Amazon Rewards Visa gives shoppers 5% back on Amazon purchases and 2% back at restaurants.
With the right combination of cards and a disciplined approach, you can accumulate a pretty decent chunk of change in the form of points.
As long as you pay your bill in full each month and avoid interest fees, these points add up big time — to the point they may even pay for your next trip in full.
2. Let an app manage your money
If you already have some credit card debt but still need some extra cash to travel, it’s time to download Tally. The app makes it easy to save money, organize your cards, and pay down balances faster. Plus, you can keep using your cards to earn points and rewards without the hassle of constantly managing them.
Tally monitors your credit card debts and interest rates and makes payments on your behalf, automatically minimizing the amount you spend on interest. With Tally, you can say goodbye to spending time figuring out which credit card bills you need to pay first.
No more juggling payments. No more missed due dates. All you have to do is pay Tally once a month.
What’s more, with Tally’s late fee protection, you get the peace of mind that comes with knowing you’ll never waste money on unnecessary fees.
3. Cook meals at home
Another easy way to save for your next trip is by making food at home and eating out less.
Not only are homemade meals much healthier, but they also cost way less than eating out. According to a recent study, the average restaurant meal sets you back $20 while a home-cooked meal costs only $4.
Your co-workers might not be impressed by your PB&J bag lunch, but who cares? They’ll be jealous when they see your Instagram posts from Bali.
4. Cut back on your java habit
We aren’t the first to suggest that cutting back on your coffee habit will amount to significant savings. Let’s take a look at the numbers anyway.
The average cost of a cup of coffee from Starbucks is around $3. On the flip side, brewing coffee at home costs around 17 cents for each cup.
The savings add up quickly. If you purchase one cup of Starbucks per day, you’d save around $60 each month.
Just because you make coffee at home doesn’t mean you have to ditch your favorite cup of joe. Coffee connoisseurs are flocking to devices that let you brew high-quality coffee at home.
A personal barista in your own kitchen. What’s not to like?
5. Ditch your car
Do you really need a car? If not, you can save tons of money — and quickly, too.
Avoiding auto ownership is likely to save you thousands each year — easily enough to pay for your next vacation. According to a recent study by AAA, it costs $9,282 to own a car in the United States.
Many people don’t realize how much it really costs to own a car.
You need to pay for gas, insurance, and loans. There are general car maintenance payments to make too — things like oil changes and new tires. If you drive an expensive car that costs more to fix or a gas-guzzling SUV or pickup truck, you’re likely looking at additional costs.
And then, of course, there’s always the chance you get in an accident or your car breaks down.
If it’s possible, you might want to think about ditching your car. Instead, take public transportation or an Uber.
Better yet, walk and bike. Not only will you save tons of money, but you’ll also be getting exercise and helping the environment.
6. Cut the cord
Eliminating your cable bill by “cutting the cord” — or canceling your cable subscription — is a very effective way to save money each month.
More and more people are starting to figure this out. A 2018 study, for example. indicated that 32.8% of Americans have cut the cord, up from 24.8% in 2017.
What’s more, a separate study revealed that, in 2018, the average monthly cable bill was $107. In other words, you stand to save nearly $1,300 each year by cutting the cord.
Since the average domestic round-trip flight is $346 in the U.S., cutting the cord can pay for your trip by itself.
Are you ready for your next adventure?
Traveling is expensive — there’s no other way around it.
If you’re wondering how you’re going to afford your next excursion, you might be surprised to find out how a few changes can go a long way toward making your trip much easier to afford.
To be sure, it might mean a few lifestyle changes and a bit of discipline on your end.
If you develop a plan that works for you and stick to it, you’ll be able to save money to the point you easily fund your next trip — and the one after that, too.