How many times have you heard “I’m too broke to travel” ?
Just like having a rainy day fund, a travel fund will allow to you be more conscious about what you spend when you travel.
It can also set a budget for your flight costs – if you have $300 in your fund, you should probably not buy that plane ticket to Japan for $700.
If you’re really serious about traveling, don’t just use a piggy bank to collect spare pocket change. Open up a dedicated savings account (preferably one with a great APY!) and add to it consistently.
How much should I allocate to my travel fund?
This really depends on how much you’re comfortable with saving away. You should already have a savings account that you’re paying yourself first every paycheck. The rest is up to you.
How can I afford a travel fund?
Everyone can if you stick with it! Just like everything, it takes time, patience, and some hustle.
Try automated transfers
With USAA, my bank since I was in high school, all ATM fees are waived. The $2.99 or whatever gets kicked back to you and I send that amount straight to my travel fund. It’s not much, but every little counts!
Clean out your account
After spending all your money on necessities and wants, see if there’s anything left in your account you can transfer to your Travel Fund.
Reach out to your friends, family, make a facebook post, whatever. See if they have any odd jobs that they need help with in exchange for cash. I haven’t tried Fiverr or Taskrabbit but that’s also a move.
Set amount per week.
Maybe try $10 a week at first and then gradually increase if need be. Or every time you change your mind about purchasing something (clothes, restaurant, etc) put that money into your Travel Fund.
Look around your house for things to sell online or a good ole yard sale. You’d be surprised with what you can make – at least enough for a coffee outside Il Duomo!