Actionable Life Hacks to Save and Make Money for Travel
There are many reasons why you can't travel or tell yourself you can't travel the world, money is indeed one of them. Being broke can squash any ideas you have of an adventure around the globe, but I'm here to help you overcome this predicament because I've done myself.
A Little Background
Several years ago, I decided I wanted to take a year off and travel. I was tired of the corporate rat race. One day, I decided I wanted to live a simple life so I could travel more. I sold everything that would hold me back from travel. One thing I can tell you. It was the best decision I've ever made in my life. Sure, I just about lost everything. I missed out on the "American Dream,"Â but I've gained something else better in return; something money can never buy. A collection of moments I will have with me for the rest of my life.
Travel is the only thing you buy that makes you rich.
Believe it or not, it can be cheap to travel. Don't believe all the things you see in commercials; travel doesn't have to be luxurious and expensive. You'll have to change your mindset about what comforts are; we are spoiled in America! The rest of the world sleep on the floor and live in mud huts, they're doing just fine, and you will do fine too!
Peyto Lake View
Several Different Ways To Save Money
There are hundreds of ways to cut expenses of traveling ranging from accommodations to the food you eat. I�ve met a few travelers in Europe with only 600 Euros to their name that have successfully circled the globe by doing work exchange programs, seasonal jobs.
Caye Caulker, Belize
Some are even lucky enough to have an online based business and jobs. I will not address how to make money while traveling (that�s for a future article); for now we�ll cover how to save for travel.
Several ways pare down your expenses, and some are more drastic than others such as embracing a minimalist lifestyle. Check out some tips at The Minimalist. Minimalism will de-clutter your life, allowing you to focus on what's important like buying experiences, not things. It will make a life of travel accessible.
I�ll start with the most drastic way to feed your wanderlust. These are methods I used to fund my 6-month driving adventure in Europe. Please remember this won�t apply to everyone; if you have dependents you can�t just dump your responsibilities and go gallivanting on some grand adventure, but then again you're reading this so a life of accumulating experiences must be a life you want to pursue.
Neuschwanstein Panorama
Don't Get A Mortgage
While owning a home is the de facto American dream, it is the crux to any traveler's woes: the proverbial ball and chain. You can�t travel while paying a monthly mortgage, property tax, insurance, utilities you didn�t need while renting, HOA fees, and various maintenance expenses and costs. A mortgage is typically 20 or 30 years and subject housing bubbles and subprime crisis.
Watching the Sunset in Quito, Ecuador
Rather than invest in a dwelling, I challenge you to spend in your life. You can accumulate all the wealth in the world, buy all the fancy cars and houses, but you can NEVER BUY BACK TIME. Besides, all the things you can do now in your youth you won't be able to do when you're too old. Hey, I'd like to be doing 360 flips off a 40 feet cliff on a snowboard when I'm 80, but the reality is that's not likely going to happen. So by the time you've paid off your mortgage, you'll be what? 70 years old? Just check out this guy's story, it's enough to make you want to drop everything and follow your dreams!
Don't Get A Car Unless You Have To
I was paying $450 a month for Jeep Wrangler Rubicon from a lease. While it was a beautiful and awesome ride, it guzzles up
Posted from my blog with SteemPress : https://www.alwayswanderlust.com/save-make-money-for-travel/
Excellent tips. Living dept free is the answer. I've been dept free for 20 plus years and it feels good. Thx again for taking the time to write a good post.
Cheers
Hey there! Great to find you on the trending page near my latest Travel Report on Buenos Aires. Like you I'm a long term traveler. I've applied similar tactics to my life, but getting ahead financially, cutting down expenses, and making your money go further is the key to living a freer life, wealthy in free time! I've advised many people to be smarted with their money, whether its to be able to travel, retire early, or simply pay their mortgage off and not always be behind the eight ball.
For me I've been traveling and living internationally for over 12 years without really working due to applying strategies you mention in this blog post, a lot of investing after selling my ESL business in Korea at the young age of 24. In fact I kind of wrote a two part e book touching many similar things you write about, linked to the end of all my blog posts. So cool to see another like minded person here.
My name is Dan, I'm from Albany New York. I'm actually in Kiev Ukraine heading to Krakow for steemfest at the moment. Was there any exact moment/reason when you decided to drop it all and break free from the matrix?
I also love in your opening paragraph how you say "it can be cheap to travel"
That's part of why I won't stop living the travel lifestyle. I live like a king in so many places around the world for between 500-1000 dollars a month and that is often including Air-fare. I call these places "get more pay less countries"
For example I just spent the summer and fall in Odessa and Kiev Ukraine with my own apartments for about 250 dollars a month including everything.
From Krakow I'm off to Thailand for a $250 flight, Will be spending the winter there and good part of that in Chiang Mai (you familiar?). Before that I was in Peru, Ecuador, Guatamala, Mexico, even Turkey, Laos, Cambodia, Colombia, Argentina all this past year. So many great places on the planet where you can live so well for very little. Anyway......
Up-voted and Following. Great article, and keep up the great work!
Hi Dan! I've spent a month in Buenos Aires with my Fiance - we rented an apartment. I also spent a week in Lviv which gave me the impression that Ukraine is the Cheapeast country travel to in Europe )
Yes, Ukraine is a bargain and BA is a lot of fun. That is awesome to connect another fellow traveler here. Have a great day.
You've been to many beautiful places!
Seems to be my purpose in life :) To see far-flung and near beautiful places.
So beautiful photos..
@adonisabril those are all great points! I do want to point out one idea that your followers should approached with caution.
I would be careful with folks placing too much financial wealth into Lending Club and similar services that advertise "high yield". I do not have fundamental issues with the platform as a whole. I think it's a valid way to make a return, and improve cashflow. However, it is riskier than most people think because we have lived the past 8 years in a growing economy.
Think about the majority of folks who may use this platform to get loans? People that have credit or no credit and they can't get a loan from a bank. Why take a 12% loan when you can get a 6% loan? While the returns are coming in now, what happens when the economy takes the inevitable downturn and people start to default on their Lending Club loans starting with the Grade E?
Things to ask yourself, how is your money allocated among the different risk grades? Does the service send you funds directly from the individuals who made the loan or do they aggregated funds? How many people on the platform are using their income from their loans to take out loans themselves at lower interest rates to give them leverage in other markets? What happens when these people default?
During periods of economic stress, leverage decreases because of cascading defaults and the payouts have a risk of stopping if only for a period of time because of reduced liquidity.
Again these are just some thoughts that folks should consider. It is a risky play and remember these services will not be backed up by a government if they go out of business like the big banks.
http://www.cryptocoach.cc
I've gained a lot more than I've lost. Like on all investments, it's not without risks but I doubt it's more risky than crypto :) The trick is to have a variety in your portfolio - On lending club the higher the rate the riskier it is.
I didn't think I'd learn much but I did. I don't know how many of these I would implement but I know I can squeeze out savings if I have to.
Good things come to those who work at it :)
Several ways pare down your expenses, and some are more drastic than others such as embracing a minimalist lifestyle.
Great tips to save money! Amazing pictures too!!
it is a very good post, you open mi mind because i love triping
Great tips for all the trip lovers out there like me. Thanks for sharing!
:)