{"id":94591,"date":"2018-08-24T09:10:50","date_gmt":"2018-08-24T09:10:50","guid":{"rendered":"https:\/\/www.hostelworld.com\/blog\/?p=94591"},"modified":"2026-09-17T00:22:18","modified_gmt":"2026-09-17T00:22:18","slug":"how-to-save-money-for-travel","status":"publish","type":"post","link":"https:\/\/www.hostelworld.com\/blog\/how-to-save-money-for-travel\/","title":{"rendered":"A baller\u2019s guide on how to save money for travel"},"content":{"rendered":"

I\u2019m a massive money nerd. In fact, it’s not often that you hear of someone under the age of 35 with a passion for Pensions, ISAs and Premium Bonds – but I swear I’m not a total bore. I also love to travel the world with my girlfriend and so far, we\u2019ve been to over 25 countries – spending less than three months of each year in the UK, making and saving money to travel. Many people assume that building up the funds to travel the world is difficult but luckily for you, I\u2019m going to let you in on my top tips on how to save money for travel.<\/p>\n

1. How much do you need to save for travel?<\/strong><\/h2>\n

First things first – you need to understand how much money you\u2019re going to need to save for travel.<\/p>\n

Where in the world would I like to travel to – and what do I want to do while I\u2019m there?<\/strong><\/h3>\n

You don\u2019t have to go into too many specifics here, but you do need to have a general idea about the type of trip you’re planning. If you\u2019re keen to hike Machu Picchu<\/a> for example, then it\u2019s likely to cost you a lot more than a trip to a couple of cities where you visit museums and other top-rated attractions. Also, distance will play a part in this as well; a trip to Los Angeles<\/a> and Australia<\/a> is going to cost you a lot more than a trip to Indonesia<\/a> and Thailand<\/a>. So, it\u2019s important to work this out first.<\/p>\n

\"How\ud83d\udcf7: Christine Roy<\/a><\/em><\/p>\n

How long do I plan to travel for? <\/strong><\/h3>\n

2 weeks? A month? Planning a gap year? Without a doubt, one of the largest variables on your travel budget is how long you plan to travel for. The longer you\u2019re travelling for the more it\u2019s going to cost.<\/p>\n

Would I be happy spending some of my time working and travelling?<\/strong><\/h3>\n

Have you considered working while travelling? It\u2019s a great way to boost your income while learning new skills and exploring a new culture. Consider working<\/a> or volunteering<\/a> to either make money or offset some of your expenses.<\/p>\n

2. Keep your travelling money separate<\/strong><\/h2>\n

Once you\u2019ve decided how much money you\u2019re going to need to save for travel, you need to keep these savings separate from your everyday accounts to help you avoid spending it wherever possible.<\/p>\n

Seeing \u00a31,000 in your bank account feels great. It makes you think:<\/p>\n

\u201cI can totally buy that \u00a320 dress. After all, it\u2019s in the sale\u2026 and I\u2019m saving like \u00a390 on the RRP\u201d<\/p>\n

Rather than<\/p>\n

“Sure, I\u2019ve got \u00a31,000 in my bank but actually \u00a3800 of that is savings towards my awesome trip to South America. So, in fact I only have \u00a3200 and I need to pay for Gemma\u2019s leaving present, council tax and you know\u2026 eat\u2026”<\/p>\n

You could opt for an old-fashioned savings jar or investigate opening a savings account with your bank (you might even get a small amount of interest from the bank on the money you\u2019ve saved). Either way, make sure you\u2019re able to track the amount of money you\u2019ve saved so far, to keep you motivated towards your travel money goals.<\/p>\n

\"How\ud83d\udcf7: Sharon McCutcheon<\/a><\/em><\/p>\n

3. Set a budget<\/strong><\/h2>\n

We’re so lucky that there are now hundreds of free mobile and web applications to help us track how much money we\u2019re spending and what on. Browse the market by Googling for the best app that suits your lifestyle. Use it to see how much money you\u2019re currently spending and ways you might be able to cut back. For example;<\/p>\n

– Did you spend \u00a380 on clothes last month? Then let\u2019s aim for \u00a30 this month!<\/p>\n

– Did you spend \u00a370 on food from the supermarket last month? Then let\u2019s clear out the freezer and cupboards and only buy fresh fruit and veg and save ourselves \u00a350 this month.<\/p>\n

– Did you spend \u00a350 on buying your lunch recently? Then let\u2019s stop it with the meal deals and put \u00a310 extra into the supermarket budget for bread to make sandwiches to take to work and save \u00a340.<\/p>\n

\"How\ud83d\udcf7: Peter Stanic<\/a><\/em><\/p>\n

4. Cancel or renegotiate your monthly Direct Debits<\/strong><\/h2>\n

While we\u2019re seeing where our money is going let\u2019s look at those pesky Direct Debits. Firstly, cancel the ones you no longer need or use. Yes, I\u2019m talking about the gym membership you signed up for back in January and quickly forgot about.<\/p>\n

Next, let\u2019s look at how we might be able to renegotiate those monthly direct debits that you can\u2019t live without.<\/p>\n

Mobile phone contract<\/strong><\/h3>\n

Check how much your contract is per month. Does this match the amount you\u2019re being billed each month? If not enquire why.<\/p>\n

Next, look at when your contract runs out. If it\u2019s already run out move straight over to a Sim Only contract and save yourself upwards of \u00a330 a month.<\/p>\n

Check your allowances and see what you\u2019re using a lot of (and not a lot of) then go ahead and speak to your provider and see if they can change your plan to better suit your needs (and hopefully save you money).<\/p>\n

Shop around using a comparison website and see if you could transfer to another network and save yourself money. With travel in mind look for ones with discounted rates for use abroad.<\/p>\n

\"How<\/p>\n

Netflix<\/strong><\/h3>\n

Check how much you\u2019re paying per month. The basic Netflix plan is currently just \u00a35.99, so if you\u2019re paying more than this then you\u2019re paying for extra screens that you probably don\u2019t need. Log into your Netflix account and change that plan back down to basic.<\/p>\n

Bank accounts<\/strong><\/h3>\n

Do you pay for your bank account? Perhaps around \u00a310 or \u00a315 a month for a premium upgrade? Well, have a look as to what that upgrade includes and whether you even need it. In some cases, it can be a great affordable asset (mine includes international mobile phone insurance and premium travel insurance). However, others include the likes of breakdown cover and other stuff that you\u2019re probably not going to need while you\u2019re travelling the world.<\/p>\n

If you do need some of these services that your premium bank account is offering, then consider shopping around by using a comparison website to check if you get these things cheaper on their own. Remember, \u00a310 a month for the bank account is \u00a3120 over the course of a year, just like \u00a315 a month is \u00a3180.<\/p>\n

So, if you\u2019re able to get international mobile phone insurance for the year for \u00a350 and international travel insurance for \u00a340 that\u2019s a saving of between \u00a330 and \u00a390 over the year.<\/p>\n

5. Sell your unwanted belongings<\/strong><\/h2>\n

If you\u2019ve finished University, then you\u2019re no doubt surrounded by textbooks you no longer need (thank goodness!). Consider selling them online via websites such as eBay or trade them in for cash with mobile applications such as Music Magpie.<\/p>\n

If you\u2019re planning on travelling long term, consider doing the same with many of the physical possessions that you don\u2019t plan on travelling with. Not only will this save you on storage fees (or on mum and dad complaining that all your junk is filling up the spare room) it will provide you with a vast amount of mental freedom, and some much-needed cash.<\/p>\n

\"How<\/p>\n

6. Pick up extra shifts at work (or get a job)<\/strong><\/h2>\n

If you already have a job \u2013 great! See if you\u2019re able to pick up extra shifts where possible. Let your manager know you\u2019re looking to earn more money and the next time they need help with something or someone calls in sick they\u2019ll consider calling you to help.<\/p>\n

If you don\u2019t already have a job, then go out there and get yourself a part-time or temporary job (depending on how long you plan to travel for).<\/p>\n

If you struggle to find a job or want to earn some extra cash alongside your pre-existing job, then consider doing one or more of the following jobs that each pay around \u00a310 an hour:<\/p>\n