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Ways To Cut Your Expenses And Have More Money To Travel

Most of the time, people think they can't travel because they don't have enough money. Too many commitments and expenses they said. Is it true that, most of us certainly have expenses we can’t cut. But, we definitely can reduce our set costs, and find other ways to save money for travel.

If you want to start travel, the first thing that you need is to create a budget. And of course, it will involve proper planning as well. For instance; how much you are willing to spend per day for accommodations? How about transportation etc?

When you are done with your budgeting, set a date (goal) when you are planning to travel. When I'm travelling abroad, I always set it 3 months earlier. First month, buy the air tickets. Second month, accommodation and finally, third month for expenses over there.

Here are some simple and creative ways to cut your expenses :

#1. Track Your Expenses

As most people (me too) don’t have a budget so the first thing you need to do is to save money. The best way is to know where does all your money go. You will be shock on the unnecessary spending that you've made and how much you can save after that.

Start tracking your expenses. Do a simple record or spreadsheet if you want. Nowadays, there are a lot of expenses tracker apps too, uses any of it to track yours.

#2. Separate Your Travel Budget

First thing to do after you receive any payments or salary, deduct 30% for your future or emergency fund. Then, settle all the commitments. Then decide how much you are willing to put aside for your journey.

Keep these travel savings separate from your everyday accounts to help you avoid spending it wherever possible.

#3. Cut the coffee

Let's assume you get your daily caffeine fix from Starbucks and do a simple calculation.

Say you need at least a cup of coffee at RM15 per cup. A week will cost you about, RM105; that's RM330 per month! Enough to buy one way ticket to Bali or return tickets to Krabi!

If you really can't, maybe you can find cheaper options.

#4. Cancel or renegotiate your monthly subscription

It is best to reconsider the monthly subscription that you have. Cut everything that you use less or not important to you at the moment. If you really 'die-die' need to keep that premium music service, maybe you can consider sharing it with your family members. It sounds 'cheap' but remember, you have your own goal.

#5. Sell your stuff

Take a look at your surrounding, spot anything that you didn't use for the last few months or maybe years? Sell it !

First, you didn't use it any more, secondly; you didn't even know you have that item until today. So, obviously, you can survive without it. Instead of keeping it in storage (which will collect more dust), how about you sold it (in Carousell) all and used the money to travel.

#6. Earn extra money on the side

See if you’re able to pick up extra shifts where possible or get a side gig.

If you are into writing and stuff, there're few websites that pay you for writing content, or you can offer any service that you're good with. For instance, drawing, graphic designing etc.

If you struggle to find a job or want to earn some extra cash alongside your pre-existing job, then consider doing one or more of the following jobs :

  • Online surveys

  • Work as a TV Extra

  • Mystery / secret shopper

For now, the most important thing you can do is to track your expenses as everyone’s situation is different and because of the pandemic right now, you might want to save more and travel when the situations getting better.



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