Singaporeans are fond of travelling but not on saving money. This is why we get to travel around the globe and yet still think that we’re not financially prepared for retirement. Saving up for a travel should be something that we get to do as a habit especially if we love travelling a lot. It’s very easy to lose money and more so when you’re having fun. No wonder a lot of travelers find themselves broke every after travel.
Here are some ways on how to save up for your travel:
Create a Travel Fund
You need to level up your financial sense of responsibility by creating a separate fund for your travels. This may be an addition to the funds you’re already saving up for or this may even be your first. Stick to a percentage of your salary that you’re willing to set aside for the sole purpose of future travels and stick to it. You may want to use an automatic savings transfer to make it easier for you.
Sell Items You No Longer Need
Look up all the items that you own. You may find a lot of old valuables that you no longer need or use but are still good enough. How about holding a garage sale in your neighborhood? Or maybe recycle some of these old valuables to make them something new if you have a creative side. Or maybe you can give up some of your valuables so you can save more money.
Save on Utility Bills
It’s all about transferring your money on something you’d rather pay for than spend money on what you don’t really need. Check your daily utility consumption. There may be opportunities for you to save up on your utility bills. Maybe you can limit the use of your aircon or save some electricity bills by shutting down unnecessary appliances.
Unsubscribe From Unnecessary Memberships
Are you still paying for that gym membership even when you’ve only been there a couple of times for the past year? It’s about time to check on all of the subscriptions you’re paying for. Do you really need all those magazine and newspaper subscriptions? Maybe you can do well without paying for a phone subscription.
Limit Your Entertainment
This is really all about discipline. If you really want to travel but you’re not making that much money, it’s about time you live below your means. Cut down on eating out and start packing lunch for office meals. Maybe you can also save up by not going to the mall too much.