9 Tips in Saving for a Future Travel Plan
Rod Gabriel | PinoyTrekker.com
Ever wonder why people often have the money for travel? Are they just financially lucky or wealthy?
There really isn’t such a thing called luck. When realizing your dreams, you just have to have that positive mindset and discipline to save up for that bucket list trip. Making that trip simply means that you have to make some belt tightening.
Not everyone is willing to save up for a dream trip. Filipinos are more prone to save more for their dream gadget, new clothes, and often spend their money eating out with family and friends.
Read on, as I’m about to tell you several tips how you can save on money for that exciting dream trip.
- Set a Budget. If you’re a bit techie, use a spreadsheet like Excel or another application and start entering every single purchase or payment that you make. Continue doing this for a month or two so you can get the idea on how you spend your money. Normally, you will see buying habits that are not that too important for you. Temporarily put on hold on purchasing items that are not really a necessity.
- Sell Items. Check out all your stuff. Pick which items you can sell. Hold a garage sale or sell them online in OLX. Selling things that you no longer need can boost your savings dramatically.
- Minimize Spending. Telling yourself not to buy may sound simple, but it takes a great deal of discipline; most especially if you have a habit of checking out and buying the latest trends in gadgets or fashion. If you feel like pressing that psychological trigger to spend, always ask yourself. Do I need it or do I want it? The most common answer is, YOU WANT IT. When buying items, always classify them under NEEDS or WANTS. This will help you decide better.
- Refrain from Outdoor Entertainment. Instead of going out, invite friends to come over and watch movies on your big screen television, or go to places that offer free admissions. There are a lot of alternative activities that isn’t heavy on the wallet.
- Open a Savings Account with a High Interest Rate. Always have an open ear and do research with the objective of discovering a bank that offers a good interest bearing savings account.
- Save on Utilities. Most of us have cable television. Set-up and antennae instead. This helps you save around 500 to 800 pesos a month. If you have internet, there are a lot of sites that hosts online movies and television shows. The Philippines is a tropical country. You can dry your clothes under the sun. Remember to turn off all lights when not in use. Install LED light bulbs. They save you money in the long run.
- Write your ‘Bakit’ (Why) list. Listing down things that you buy from the grocery and writing down the reasons why you need them helps a lot. Start eating healthier, and affordable food. Planning what you eat at home, saves a lot of leftovers that you could use as office ‘baon’.
- Give Affordable or Spend-Free Gifts. Be a bit ‘kuripot’ from time to time. You may have a talent or two, that won’t use much of your pesos. Still, the best and most priceless gift is love.
- Unsubscribe or Terminate Memberships. Gastos lang yan. It is highly probable that what you ready from your magazine subscriptions are already in the internet. Instead of spending hours in the gym, walk or ride a bike instead. It’s much more fun.