9 tips to help you afford your travel trip
Having traveled to 10 countries, across three continents, and visited historical sites like Machu Picchu in Peru and Angkor Wat, Cambodia, I want to dispel the myth that you have to be rich to explore the world, instead travel smart. Who says you can’t enjoy the finer things in life and immerse yourself into new experiences all without breaking the bank? I get asked the question all the time, “How do I afford to travel?” Here are nine tips on how I am able to afford my travels.
1. Sacrifice: I have given up certain things so that I can travel. If you don’t have (unlimited) financial means you have to find ways to sacrifice, the small and big things,” which is based on your own budget and travel desires, whether it means spending less on other forms of entertainment or buying a less expensive car.
2. Use your talents to generate an additional source of income: What are you good at? There are so many ways to make extra income. I do many freelance jobs in graphic design, photography, and UX design, and my all-time favourite, is planning trips for other people in order to earn cash to fund her travels.
3. Invest consistently: I invest a lot in stocks, for both the long-term and short-term. I use my short-term trading to fund my traveling and my long-term investment toward my other goals such as retirement. This strategy has helped so far, one of my best investments was in FESCO’s initial public offering (IPO) which paid great returns and helped to offset the cost of my trip to Mexico.
4. Save in USD regularly: Since US dollars is an internationally accepted currency, I highly recommend you purchase US dollars regularly, as opposed to when you need it for a trip, as at that time you will be forced to buy the USD at the given exchange rate at that time, which may not be in your favour or scare.
5. Travel off-season: This helps you to get great deals on hotels, tours, and attractions, plus you will not encounter crowds at popular travel sites.
6. Use a travel credit card with rewards: A credit card can be your best travel friend if used wisely. Use your credit cards as your primary spending card so that you can accumulate rewards, of course, you have to pay off this card in full each month. By accumulating enough points I was able to get use the points for my airfare. Which helped me to save. Your credit card is also a great travel companion for emergencies.
7. Have a travel partner: There are many benefits of having a travel partner, not only do they serve as a good company and if you are lucky a photographer, but you can also balance the budget because you can share the cost of accommodations, transportation, tips, and food.
8. Use AirBnB experiences: This allows you to meet and connect with locals as well as fellow travelers from all across the world, thereby widening your network and experiences. This has the added benefit of also usually being a more affordable accommodation, minus some of the luxury of a hotel.
9. Plan trips in advance: This is the ultimate travel tip. Advance planning allows you to save more towards your trips and get great deals and take advantage of cheaper airfares.