How to Save for Traveling on a Small Budget

Traveling can be an expensive venture, and we all want that fancy trip with all those beautiful tours and great 5 star hotels. That for most people is a stopper for not planning that next big trip. But please don't be intimidated by the cost, just plan, prepare and budget for it. It can be done. Here are some tips to help you save for the next big trip.

Plan ahead of time

Yes this may be obvious, but it makes a difference in you planning. I usually plan 6 months in advance to take advantage of low airfares and deals. When you plan ahead of time, you have room to correct errors and refine your trip.

Travel during low season

This makes a huge difference in cost for airfares and hotels. Instead of going to Europe in summer consider going in May or even September. Thailand monsoon is avoided in September, I went and encountered some rain but it wasn't that bad. The advantage of traveling in low season is that it makes your trip easer especially if you plan to visit historic sites, so you ultimately will not have to deal with the crowds.

Get a travel Credit card

I use an Scotia aero credit card to earn points to help purchase my ticket for my flights. Usually I would get enough points for round trips from Kingston to Florida or Miami. FYI Florida or Miami is my hub – so I use those locations to get to other locations around the world. It helped significantly in cutting my budget by as much as 450 USD. The key is to use your credit card for 95% of all my purchase and pay your credit card on time as Scotia aero card has a very high interest rate. 

Get points for booking flights and hotels

There are several sites online where you gin travel points by booking with them. I use sites such as Booking.com and Onetravel. Booking.com is convenient for me, as I can use my card to reserve my room. I also earn "credit which can go towards my next stay and I am genius member which means I get special discounts on hotel cost. Airlines also have loyalty programs, which is excellent for frequent flyers.

Find a travel partner

Its much easier to split cost both ways for tours and hotels. Make sure that you are and your travel partners are compatible. 

Explore visa free countries

The biggest challenge with having a Jamaican passport is that we have to get a visa for many places. So I started most of my trips my exploring visa free countries, which for us are mainly south and Central America and some parts of Africa. I have travelled to places such as Peru, Columbia and South Africa.

Try Airbnb Experiences

I was skeptical about this idea. I did my first Airbnb Experience in Colombia and enjoyed it! It was way cheaper than the regular tours and it wasn't crowded and it was intimate experience, so I was able to ask questions freely.

Stay at hostels or Airbnb

There are several hostels where you can stay for as low as 45USD a night. Also for airbnb there are great stays that are just as good as any hotels.

Fund traveling through passive income

What is your side hustle? Can cook, write take photos? How about putting at least 20% of your earnings towards your trip? What about trading stocks? That is also a good way to make some extra money by getting dividend payments of flipping your money through IPOs.

What are you willing to give up?

So for me, I gave up going to expensive parties. When all my friends were going to Frenchmen parties I was saving that extra cash for my vacation. I cut back on impulsive spending, no to that extra Starbucks coffee or the fancy breakfast at Formage, I mean don’t get my wrong I would splurge on something nice once in a while I just didn’t do it that often.

Eat where locals eat

Its always a good to eat where locals eat. Not only will you get the best tasting food but you will save a lot on the cost. Touristy restaurants are always overpriced.

Consider long layovers to do tours

This is only applicable if you are allowed to come out of the airport without requiring a visa. I did this when I had an 8-hour layover in Doha, Qatar. I was able to book a tour inside the airport, which took me to point areas of interest. Here I saved on accommodation, as I didn’t need to book stays or food.

FINAL THOUGHTS

If you can you can dream it you can do it! Yes if you want to see the world you can, it wont be easy planning on your own but it can be done. With the internet you have access to everything all information at the tip of your fingers. Don’t let money be the reason you don’t travel. Just go!