The pandemic has caused significant disruption to travel plans all over the world. However, as restrictions begin to lift, you may want to start thinking about your next destination.
Before booking your next trip, you should consider your travel funds, as having enough money will ensure that you are able to see and do everything you want during your travels.
To help you save up for travelling, here are some useful tips that will ensure you have funds for the trip of a lifetime.
Choose Your Destinations
First things first, you need to choose where you want to go before deciding on a budget. This is important, as this will help you understand how much you need to save, as some destinations are more expensive than others.
When selecting your next travel destination, you need to look at the general cost of living, flight prices, accommodation costs and a visa if necessary.
It would also be helpful to know how long you want to travel for, as the longer you are away, the more you need to save.
Plan Your Budget
Once you’ve decided on your next destination, you can start to plan your travel budget.
In order to stick to your travel budget, you need to be realistic. Therefore, you should include everything you need to pay for, such as a flight ticket, hostel stays, visa applications, excursions, food and drink, transport, travel insurance and emergency funds.
By accounting for everything above, you can get a better understanding of how much you need to save and will also enable you to have more of an idea of how long it will take to save up.
Put Aside a Set Monthly Amount
One of the best ways to save for your dream trip is by putting aside a specific amount of money each month. By sticking to a set amount, you are more likely to reach your goal and will also enable you to book your trip quicker than you expect.
When setting an amount, make sure that you do not stretch yourself too much, as you still want to make sure that you have enough to get you through the days while you are still at home.
To help you stick to the same amount each month, you may want to set up a direct debit from your current account to a savings account to ensure you never miss a payment.
Open a Travel Savings Account
If you find it hard to save, you may want to consider opening a savings account. Make sure you choose an account that is completely separate from your current bank account to avoid being tempted to spend.
When choosing a travel savings account, make sure you opt for one that pays a high-interest rate, as this will allow you to increase your savings quickly.
You should check to see if you need to pay a monthly fee, as some saving accounts require customers to pay a certain amount. If possible, try to look for an account with zero fees, as this will help you contribute more to your travel fund.
Now you have a better understanding of saving up for your next trip, why not start researching locations and planning your budget for your dream destinations?
Heather Barrigan is a Liverpool-based freelance writer and correspondent for Immigration Advice Service specializing in outreach and the creation of engaging and informative immigration-related content.