If money is the only thing that is holding you back when it comes to the trip of a lifetime, then you’re going to need to ensure that you have a great savings plan in place in order to help you afford it. The trip of a lifetime isn’t going to be exceptionally easy to get, but if you have a budget in place then you will find that the savings side of things can get a lot easier. The first thing you’ll need to do is work out how much you’ll need, and from there, put a budget in place in order to help you reach your goal. Sounds easy right?
It’s not always, as many people will find that they end up being left with the last few pounds in their account at the end of the month until payday, without having saved a penny – without really knowing where that money has gone. Here, we’ve put together a quick guide on how you can afford that trip of a lifetime.
Get Rid Of Any Debts
Usually, it is debt that tends to hold people back when it comes to affording their trip of a lifetime. Whether that’s a credit card, car finance, or a reliance on quick loans to help before the next pay check, there’s plenty of different reasons people may be in debt. However, when you’re having to pay extra amounts on bills, additional interest and more, it ends up being an endless cycle of you not being able to save. Prioritise getting rid of any debts, and then you can focus on saving.
Second Income Stream
While the idea of having a second job isn’t all that appealing, you need to think about the short term. A second job or side project not only helps you to earn more money, but it also helps by giving you less time to spend that money. Whether you jump into bar work, start walking dogs, or turn your hobby into a full blown side business, there’s plenty to consider. However, it is important that you move away to something totally different to your day job, or you’ll end up burning out and hating that career path you so enjoyed a few months prior. Getting that little bit of extra income can help to get your trip of a lifetime within your grasp.
Know What You’re Spending
If you’re addicted to double shot soy lattes from Starbucks and need to get your fix before work every day, then you’re more than likely going to be throwing in the region of £25 a week away (at least). If you consider that in the space of a year, that’s over £1000 that you are throwing away, just on your coffee fix! Work out where you’re spending your money and what on, and fix it. Make sure you’re bringing in breakfast and lunch from home instead of buying it every day, and you will see that money in your account that can make your savings goal even easier.