1. Rent Out Spare Rooms or Take in a Roommate
This was definitely something that I advise anyone doing. I started renting out spare rooms that I had in my apartment and it made a huge difference. I saved a lot more money meaning that I had a lot more money for my trips that I had planned out.
The same thing goes for taking in a roommate. You’ll save so much money and you’ll be closer and closer to your dreamed trip!
2. Work Multiple Jobs
I currently have two jobs and it’s helped me save money a lot quicker for any kind of expense that I have. Yes, I know this can be a bit tiring. But it’s definitely well worth it.
3. Live Off One Wage
Ytravelblog.com states the following: “If you are a couple, consider living off one wage and save the other. Once you commit to it, you’ll find it easier than you think. You’ll find a way to manage and if you bank the one wage immediately you won’t notice its absence so much.
Sit down with your partner and create a budget. Cut out all unnecessary expenses and focus purely on covering your needs. Decide on whose wage will best cover these expenses. Wiggle the budget around until you can make it fit the salary comfortably.
Set up a plan to bank the other wage as soon as it is received. Put it straight into the high-interest savings account you have set up. Don’t stress if you can’t bank the entire wage of one partner, bank as much as you can of the one wage. Make it a game to see how much you can increase it by each week. It’s a great way to get you used to living off little and needing less”.
4. Work Extra Shifts
Most places pay really great in extra shifts. Consider working in extra shifts to get paid lot more and therefore have enough money for your trips.
5. Ask For a Raise
Have you been employed at your position for some time and are exceeding expectations, or are overdue for a raise? Politely ask for one. Or why not add more value to your job by considering on getting a promotion!
6. Be a Tutor
Tutoring is definitely a well-paying job. I had mostly kids come to my house to give them private English lessons in here Venezuela. English is highly demanded here in Venezuela and since I knew English I decided to take advantage of it. However, you don’t necessarily have to teach English. You can teach whatever you like!
7. Automate Your Savings
Savings should be your top priority. Set up an automatic transfer that deducts 10% of your wage each week and have it transferred into your travel savings account. This idea I got it from a friend of mine who found success in this simple tip. She managed to save a lot of money for her upcoming trips. It’s a lot easier to keep track of your savings if you have them separate from your spending money.
8. Use a High-interest Savings Account
Depending on where you live and what interest you gain from your bank account you can actually earn a lot of money off of it.