What’s stopping you from saving for travel? Before you come up with a savings plan, it will help to decide where you want to go and the bare minimum cost of the trip.  Or, if you aren’t sure yet and just want to start saving, that’s fine too! You can always work backward by saving a certain amount and eventually finding a place to get the most bang for your buck. Either way, knowing how much you will need is a key indicator of how many changes you will have to make to your lifestyle to start saving. It’s also important to consider other debts and saving goals to determine what you are able to save towards travel.

Here are some of my favorite ways to save for my next trip:

1. Savings App

The Qapital app makes saving so much easier!

This is by far the best tool I have used to save money for traveling. My favorite saving app, Qaptial, lets you create goals and set up savings rules for each goal. It makes the saving process a little more exciting and realistic by letting you add in pictures of the goal and also tracks your progress.  It may seem like an unattainable goal to save $2000 for your trip to Ireland but if you see an image of the countryside every time you check in on your savings amount, it feels so much more real. When you reach a milestone, you get a celebratory notification. What’s not to love here?

2. $5 bill challenge

Every time you come in possession of a $5 bill, you stash it away for your trip. Fabulessly Frugal has a great article about how much of an impact this can make towards your savings goals. For those of us who don’t usually carry much cash, this could even provide supplemental funds for your vacation. Maybe you can spend the $40 cash you saved on a hand-made souvenir to remember your trip?

3. Sign up for a travel credit card

While you should always proceed with caution when opening a new credit card, there are some out there that provide amazing benefits to travelers.  The Points Guy has a great roundup of some of the top travel credit cards along with the pros and cons for each of them. If you are using your credit card frequently (and responsibly) you can get your flights and or/hotels covered for a single trip. Some cards are better for airfare while others can get you more at hotels. It is best to do A LOT of research before deciding on a card and what you intend to use it for.

4. Use a flight tracking app

I always check ahead to find out when is the cheapest time to buy flights. You can, of course, check travel booking sites weekly to see if there has been a change in price but using an app like Hopper can tell you when is the best time to book your flight. You can set up alerts to track the trip which could save you hundreds of dollars. I was able to get a flight to Sydney for well under $1000 by using the “Watch this Trip” feature on the app. It’s never too soon to start tracking flight costs–the earlier you start looking, the more you may be able to save!

5. Go during the off-season

If you want to go skiing in the alps or can only go to Disney World with your kids during spring break, you won’t exactly benefit from this tip. But, if you have flexible times you can take off, you can absolutely save money depending on the time of year you go on your vacation. While high seasons often have the best weather in most destinations, they are also the busiest and most expensive times to visit. You may have to compromise a bit on the weather, but off-peak times will provide the best value.

Get a reusable mug for your coffee–even better if it is travel themed!

6. Give up your daily coffee

In the moment, giving up your daily $5 latte may be absurd but think about how much you would save if you brewed a cup at home instead. When you add it up, 5 cups of coffee a week costs can cost more than $1000 a year! That could be your hotel expenses for a single trip. If you are using the Qapital app, you can actually set up a rule that saves you money for each week you omit spending at a certain retailer—$25 towards your trip instead of your coffee! 

7. Cut back on eating out

This one is challenging for most people. With all of the convenience of food delivery and fast-casual restaurants, the dollars can quickly add up without even realizing it. Try bringing a lunch to work and cooking at home more often. I just bought a week’s worth of groceries at Trader Joe’s for $40, which could easily equate to one dinner out with my husband. Hosting friends is also a great alternative to going out for a meal but you still get to change up your routine and have fun!

While these are some of my favorite ways of saving money to travel, I’m always interested in learning what others do to save. What are some of your favorite ways to prepare financially for upcoming trips?

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