Here are some tips and pointers for saving money. Pay attention to your everyday spending to have more money set aside for traveling. Of course it depends how much you earn monthly how much you can splash out on daily basis. I hope to retire in the next 20 years. I have already started making plans for it. I also want to make sure I see the world and enjoy life while I am still able. So here’s what you can do for saving money for traveling.
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Drinks and food
First of all, it is worth always listing down how much you are spending daily/weekly/monthly on drinks
and food. We all need to eat. You might also want a coffee or two. Do you have a takeaway, or do you prepare these yourself? You can save a big penny by meal-prepping your lunch salads. Alternatively, buy something in advance. This approach is better than paying 10-15 € per day. Takeaway coffees or soft drinks alone daily can set you back 40 € per month. Yearly that already adds up to nearly 500 €!
We must keep the amount of leftover food to a minimum. This is important so that we do not waste too much money. We are recommended to eat snacks every couple of hours instead of eating a proper meal with real food. If we buy snack bars or drinks daily, we digest ultra-processed food. This can mess up our metabolism and make us eat in excess. We also spend money on something that is not necessary. Grab a banana, other fruit, or nuts. Then have a lovely dinner with real food with your loved ones.
Shopping
Secondly, you can consider your monthly shopping for clothes. Luckily I had an epiphany one day. I realized that nowadays, having luxury goods has become more common. People’s wealth is increasing in some parts. Also, secondhand sales have increased. Now we have this thing called ultra luxury. In other words, no matter how much I earn, someone else already has a nicer bag than me. I might dream of having a luxury brand bag, but theirs is 100 times nicer. I can decide if I want to chase luxury or spend on something more important. Traveling is more important to me, as you may have guessed.
It is worth rummaging your wardrobe every once in a while. This allows you to go over what you have and make new combinations. We do not want to forget what we have hoarded over the years. Webshopping is so easy that we end up with piles of clothes we do not need. Clothes and cars are not the best investments. If you want to support your country’s economy and local products, you should invest in the export goods industry. Choose stocks and shares over clothing. At least then you can make some money. You can spend the dividends on traveling. Alternatively, you can buy more stocks and grow your personal wealth and enjoy the compound effect.
Beauty and hair
Thirdly, I point out beauty and hair. I once calculated the cost of getting my nails done in a salon each month. It would be about 70 € per month. Yearly this would add up to over 800 € per year. Also I would put salon-made eyelashes and other beauty treatments here under the same category as well. They would add up to quite a lot. I have to go to the hairdresser’s after every 8 weeks. I have now tried to stretch it to ten weeks. This is a luxury I am not willing to give up. I absolutely love my hairdresser. She is so much fun! I do my own nails when I feel like it. I try to avoid shopping too many beauty products. Otherwise, they end up filling the bathroom cabinet and never being used!
Final thoughts about Saving
Finally, it is wise to have separate accounts for your everyday life, savings, and a fun account. This fun account can help you save up for your travels! If you transfer the money on payday, you can secure it immediately. This way, you will not spend it on something that loses its value once opened from packaging. Afterall, these are all daily choices we make. By controlling our impulses, we can go far. We might even travel to another continent!
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