Published On: Fri, Jan 29th, 2021

How to Travel When Your Budget Makes You Feel Like You’re Broke

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Typically, the number one thing that holds people back from traveling is money. True it does take money to travel, however the notion that you need tons of it to have a fulfilling life as a well-traveled citizen is false. Not to mention a vacation is what you make it, there is not strict definition of what determines a good vacation or a bad one as far as planning. So, remove the stigma that the words travel and expensive are mutually exclusive and open yourself up to trips that wow, regardless of your price point.

Find Free Money

The money you do not think you have to afford the life of travel you want might be hiding in you own bank account. Tracking expenses is a tried-and-true way to be able to showcase exactly where your money is going, and where you can afford to cut back. $10 for lunch out every now and then does not seem like much but on a monthly scale if can really add up, and hello, that could be your plane ticket.

Student loan debt is another common roadblock people cite as their reason for not indulging their wanderlust. You do have options though. You can use a guide on how to refinance your existing private or federal student loans into a new obligation with a private lender to save money off your monthly expenses.  Depending on your credit history, and the new interest rate you can secure, you might be able to shave a significant amount of money off your monthly payment that you can seamlessly transition over to your travel fund without disturbing the rest of your personal budget.

Keep an Open Mind

Once you have decided that you simply want an unforgettable experience and have removed the limitations of exactly what defines that, the possibilities are endless. If you allow yourself to let your budget help guide your choices instead of picking locations and dates then having to come up with the funds to support those choices, you will find that not only can you spend less money to travel, but you might also discover a love for certain destinations that you never would have otherwise. Flexibility plays a huge role in having and maintaining an open mind. Reimaging how you vacation is a great tactic towards keeping the integrity of your budget.

The type of lodging you decide on, for example, can help you save money. If you bend a little from the traditional choice of staying in a hotel, and opt for something like an Airbnb for example, you have the option to get a few groceries and potentially cook a few meals yourself. Limiting the amount of money you spend to dine out on vacation can add up to a huge savings, and you won’t feel like you are missing out on an experience if you brew your own coffee daily instead of getting takeout each morning.

Staycations are also a widely popular way to break from the norm without breaking the bank. Many people get so caught up in the fantasy of travel meaning visiting places far away from their home base that they overlook the options that could be amazing and close to home. Challenge yourself to find exciting options central to your location and you might be surprised at how many untapped travel treasures there that do not require extensive travel and funds to experience.

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