Saving For A Round-The-World Trip: Strategies For Success

Saving for travel is a challenge, but it's not impossible. The first step is to work out how much you need to save. Then, you can create a savings plan, with short-term and long-term goals. This will involve reducing your expenses and increasing your income.

To reduce your expenses, you can cut out unnecessary spending, such as daily coffee or subscription services. You can also save on utilities by turning down the heating and taking shorter showers.

To increase your income, you could take on a side hustle, such as working as a waiter or building an online business.

It's also important to remember that you don't need to be rich to travel. There are many ways to save money while travelling, such as staying in hostels, cooking your own meals, and taking advantage of free attractions.

With careful planning and dedication, you can make your dream of travelling the world a reality.

Set up a direct debit to your savings account

Setting up a direct debit to your savings account is a great way to save for your travels. Contact your bank to set up a direct debit that automatically transfers money into your savings account each month. No matter how much you put away, putting that money in a separate account means it's away from your spending and you won't be tempted to dip into it.

This is a good way to save for your travels because you will soon see your savings grow. You can set up a direct debit for any amount, big or small, and watch your savings build up over time. This is a good way to save because it doesn't require any extra effort on your part once it's been set up. You can also increase or decrease the amount at any time if your circumstances change.

It's important to remember that this is money you are not allowed to spend until you go on your trip. Think of this like a piggy bank that you can't smash open! It's a good idea to set up a direct debit for an amount that you know you can afford each month, so you don't have to worry about not having enough money to cover your expenses.

You can also set up multiple direct debits to different savings accounts if you want to save for specific things, such as accommodation or activities. This will help you stay organised and ensure you have enough money for everything you want to do on your trip.

Setting up a direct debit is a great way to save for your travels because it helps you save consistently without having to think about it. It also ensures that you are saving the amount you need to reach your goals. So if you know how much your trip is going to cost, you can work out how much you need to save each month and set up a direct debit for that amount.

It's a good idea to review your direct debits regularly to make sure they are still in line with your savings goals and budget. You may find that you are able to increase the amount you save each month, or you may need to decrease it if your circumstances change. The important thing is to be consistent and save what you can.

So if you're looking for a hassle-free way to save for your travels, setting up a direct debit to your savings account is a great option. It's a simple way to ensure you are saving regularly and helps you stay on track to reach your travel goals.

Cut down on unnecessary spending

To save for travelling around the world, it's important to cut down on unnecessary spending. Here are some tips to help you do that:

Identify Needs vs Wants

Draw a line down a piece of paper to make two columns. Label one side "Needs" and the other "Wants". Now, list everything you spend money on, being as honest as possible. You might think you need Netflix, but do you really? Do you need to buy coffee every morning, or could you make it at home? Do you need new clothes, or do you just want them?

Once you've identified your wants, add up their costs. This is how much you could save each month by cutting out these expenses.

Stick to a List

Before you go shopping, write a list of the things you need and stick to it. If you see something that isn't on your list, ask yourself if you really need it, or if you're only buying it because it's there.

Find Free Entertainment

Instead of going out for drinks, dinners, concerts, or plays, find free entertainment. Invite friends over for a movie night, go for a hike, or visit a local art museum.

Cut Down on Dining Out

Limit dining out to special occasions, and cook at home instead. Cooking for yourself is a great way to save money, and it's fun too!

Cut Down on Coffee

Instead of buying coffee every day, make your own at home. This will save you a lot of money over the course of a year.

Cut Down on Subscriptions

Cancel any subscriptions you don't need, like cable TV or a gym membership. You can also switch to cheaper alternatives, like a basic phone plan instead of a smartphone.

Cut Down on Transportation Costs

If possible, get rid of your car. If you can't get rid of it, consider selling it and buying a cheaper used car. You can also use public transportation, walk, or bike to get around.

By following these tips, you can significantly cut down on unnecessary spending and save up for your trip around the world.

Save on energy bills

Saving on energy bills is an effective way to save money for travelling. Here are some tips to reduce your energy usage and lower your bills:

Heating and Cooling

• Turn down your thermostat. Lowering the temperature by just one degree could save you up to £145 or $1095 a year.
• Set a timer on your thermostat so that the heating only turns on when you need it.
• Turn the heating flow temperature down on your combi boiler. Reducing it from 80°C to 60°C can save up to £95.22 per year.
• Don't heat empty rooms. Use radiator valves to reduce or turn off radiators in unused rooms. This could cut 4.5% off your gas usage, saving up to £50 a year.
• Run your heating only when you're at home. Even using your central heating for one less hour each day will add up to big savings over time.
• Bleed your radiators. Trapped air can make radiators less efficient, so they take longer to heat up.
• Choose thermal curtains to keep the heat in. This can save an average home up to £291 a year on energy bills.
• Heat people, not the room. Try a heated electric blanket to keep you warm. They typically cost between £25-50 to purchase and use very little electricity.
• Turn the heating down by just 1°C. This could save around £80 a year on your heating bills.
• Insulate your home. A lot of heat can escape, including 25% from your roof alone. Loft insulation could save around £130 a year, while cavity wall insulation could save up to £245 a year.
• Install double or triple-glazed windows. This can save £25 a year on energy bills and reduce heat loss.
• Draft-proof doors and windows. This can save you £25 a year on energy bills.
• Install a chimney draught excluder. This can save around £18 a year.
• Insulate your pipes. This can also mean you don't have to leave the tap running for as long before the water gets hot.
• Get a smart thermostat. This allows you to control the temperature of your home remotely and set a timer for the heating. Installing one could save you up to £50 per year.

Appliances and Electronics

• Switch off lights when you leave a room. This could save you about £20 a year.
• Invest in energy-efficient appliances. Check the energy rating when buying new appliances. The better the rating, the more you'll save in the long term.
• Unplug any appliances or charging cables that you're not using. These can waste electricity.
• Turn off electrical appliances fully instead of leaving them on standby. This can save around £35 a year.
• Use a high-tech thermostat to save money by setting back your thermostat at night.
• Change your furnace filter regularly. This helps extend the life of your furnace and keeps energy costs down.
• Hang your clothes to dry instead of using a tumble dryer, which guzzles energy.
• Use a microwave instead of an oven. Microwaves use less energy and can save you up to £80 a year.
• Only boil the water you need. Overfilling the kettle wastes water, money and time.
• Use a water heater timer to program when your water heater activates and deactivates.
• Plug electronics into a power strip, then turn off the strip when they're not in use. Electronics use a lot of power even when turned off.
• Clean the lint screen in your dryer after each load and clean the exhaust duct once a year. This improves efficiency and reduces fire risk.
• Drain and flush the sediment from your water heater tank. This makes it more efficient by reducing the amount of sediment you're heating through.
• Wrap your water heater in an insulating blanket if it feels warm or hot to the touch.
• Clean your refrigerator coils. When clogged with dust, the compressor has to work harder and uses more energy.

Other Tips

• Switch energy suppliers when your current contract ends. Look for cheaper deals or new client discounts.
• Pay your energy bills by Direct Debit. This tends to be cheaper and means you won't forget to make a payment.
• Reduce energy consumption. Dial down the temperature on your washing machine to 30°C and try to do fewer cycles. Cut down on dishwasher cycles too.
• Choose an energy-efficient boiler. Upgrading to a new A-rated boiler could save you hundreds of pounds each year.

Make packed lunches

Making packed lunches is a great way to save money for your travels. Here are some tips to help you get started:

Cost Savings

The average lunchtime meal bought out costs around $11. In contrast, a packed lunch can be made for just a few dollars. The ingredients you buy will likely make more than one lunch, so that initial $10 on veggies, bread, and cheese, for example, will go a long way. Even if you make more extravagant meals, like vegan or plant-based options, you will still save money compared to eating out. Over a year, buying lunch out five times a week at $11 per meal will cost you $2,860, whereas a homemade lunch could save you over $2000. That's money that could be better spent on your travels.

Health Benefits

It is much easier to make healthy choices when you make your own lunch. Eating out often means consuming food that is high in salt, fat, and sugar. A Subway 6-inch Italian BMT, for example, contains 55% of your daily recommended intake of salt. When you make your own food, you control what goes into your meals. You can make healthier choices, such as using a healthy vinaigrette on your salad instead of a high-calorie, fatty dressing, or choosing sandwiches with vegetables instead of fatty mayonnaise.

Reduce Waste

When you buy lunch out, it usually comes with a lot of waste: paper, plastic, disposable cutlery, and straws. This creates a huge amount of waste and increases your carbon footprint. A packed lunch is a much more eco-friendly option. You can use less wasteful alternatives, such as beeswax wraps, glass containers, or eco-friendly lunch boxes.

Portion Control

Making your own lunch also gives you better control over your portion sizes. Lunch portions served in cafeterias or restaurants can be excessive and often come with unhealthy sides, like fries and soda. With a packed lunch, you decide the portion size, helping you avoid consuming too many calories and maintain a healthy weight.

Time Savings

Bringing a packed lunch saves you time, too. There's no need to rush out to buy lunch or stand in line at a cafeteria. Instead, you can enjoy your lunch in a calm space, perhaps even outdoors in a park or at the beach.

Planning and Preparation

If you're new to packing lunches, start slowly. Try packing lunches 1-2 times a week and then increase the frequency over time. Plan your meals in advance and prepare larger portions at dinner so that you have leftovers for the next day. This will save you time and money.

So, invest in a cute, stylish, and eco-friendly lunch bag, and start making your own lunches. You'll save money, eat better, and have more time to enjoy your lunch break.

Travel in the off-season

Travelling in the off-season has many benefits, from fewer crowds to cheaper tickets and accommodation. Here are some reasons why you should consider travelling during the autumn, winter, or spring:

• Perfect Temperatures: Some destinations are too hot to visit in the summer months. For example, spring and autumn are the best times to visit Machu Picchu in Peru or the pyramids of Giza in Egypt.
• Fewer Crowds: With fewer tourists, you'll have more time and space to enjoy the sights. Hotspots become more accessible, and cities are easier to navigate. You can enjoy quieter beaches, get the best spots at viewpoints, and indulge in your favourite places.
• Autumn Colours: Autumn foliage offers a magical display of colour, especially in places like New England, USA, Edinburgh and the Highlands of Scotland, and Switzerland's alpine valleys.
• Culinary Delights: Travelling in the off-season provides a chance to discover seasonal gastronomic delights. Autumn offers harvest bounty, winter brings festive treats and heart-warming dishes, and spring introduces fresh, flavoursome produce.
• Winter Wonderland: Experience a true winter wonderland in Europe's Christmas markets, with twinkling lights, carols, and local delicacies. It's also a great time to discover festive treats in colder destinations and buy unique gifts for loved ones.
• Cultural Delights with Sunny Skies: For those living in colder climates, travelling in the off-season means swapping grey skies for sunshine. Destinations like Morocco and Egypt offer architectural and culinary delights during the winter months.
• Spring Blooms: Make spring blooms the centrepiece of your vacation. This is the ideal time to visit European destinations like Tuscany in Italy, Istanbul's tulip festival in Turkey, or the cherry blossoms in Spain.

By travelling in the off-season, you'll not only save money but also have a more enjoyable and relaxing experience, with fewer crowds and more opportunities to explore at your own pace. So, if you're planning a trip, consider choosing an off-season destination and take advantage of the many benefits it has to offer.

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