Dreaming of wandering the cobblestone streets of Dubrovnik or getting lost amidst the bustling energy of New York City but you’re not sure how do you turn those dreams of exploring the world into a financial reality? As someone who’s spent over 10 years using various saving methods to save for my own adventures, I’m here to guide you on actionable ways and realistic tips for saving money to travel more.

These tips are for people who are ready to make some small sacrifices to travel more. So grab a cup of tea or coffee (homemade, of course) and let’s figure out the best strategies for you to start saving.

Tips to put more money away in your savings

Set small savings goals

Saving for travel doesn’t have to mean drastic lifestyle changes or not being able to afford your essential living expenses. Start small by tucking away a portion of your income regularly. Whether it’s fixed amount from each pay day or whatever amount you can afford that pay check, every little bit adds up. Take a look at these numbers:

•  $10 a week or $40 a month for a year will save you $480.
•  $20 a week or $80 a month for a year will save you $960.
• $30 a week or $120 a month for a year will save you $1,440.

Complete a money savings challenge.

Need a bit of a push? Or could your competitive spirit help you on the way to a bigger travel fund? Whether it’s a 30-day savings sprint or a year-long marathon, Challenges provide structure and motivation to bolster your travel fund, not only will you watch your savings grow, but you’ll also enjoy the thrill of achieving your financial goals.

Try one of my six-moth challenges below:

Collect your spare change

Do you often have spare change sitting in your purse? Empty your pockets at the end of each day and put them into a savings jar. The jars that require a car opener are my favourite because they stop me from digging into it. By stashing away spare change, you’ll be surprised how quickly those cents and dollars add up!

Ways to curb your spending 

Cut back on buying coffee or lunches at work

That vanilla latte or grab-and-go lunch may seem harmless, but those daily indulgences can quickly drain your wallet.

As of 2023, did you know that the average cost of coffee in Australia is $5? If you buy a $5 coffee Monday thru Friday, you’re spending $25 each week? Skipping that daily latte could translate to a hefty $1,200 in savings annually.

If you’re someone who often buys lunch consider packing lunches instead. In Australia, people will often spend $12 – $20 each workday on lunch which equals $60-$100 a week. Meal prepping can be a more cost efficient option to help reduce the amount you’re spending on weekly lunches.

Cut back on buying new clothes and shoes

Before splurging on that new top or pair of shoes, ask yourself: do I really need it? Take inventory of your wardrobe and prioritise purchases that you need or add value.

I used to have a terrible habit of being buying clothes that were very similar to something I already own so setting a shopping rule – like only buying items that significantly differ from what you already own – can curb impulse buys and, instead, save more in your travel fund.

Eat out less, eat in more

Ditch restaurants (every now and then) for home-cooked meals, or if you want to get out of the house take a picnic to the park or fire up the grill in the backyard for a budget-friendly feast. Most people will spend between AUD 30 – AUD 80 each time they go out for a meal, whether that be brunch, lunch or dinner (and probably a drink or two).

To add a bit of perspective, Avocado toast here can range from AUD 18 – AUD 28 here in Australia – and you’d be able to buy almost a week’s worth of ingredients to make the same dish at home for the cost of one avocado toast in a cafe.

Out with the costly habits, in with more travel savings

Cutting back on vices like alcohol and cigarettes can supercharge your travel fund – especially if this is often where your money goes. It’s always handy to calculate how much you are spending on nights out, alcohol and cigarettes to see if there’s an opportunity to cut back and redirect those funds towards your adventures.

DIY and save money

Cutting back on spending money on services you can DIY, such as at-home manicures, lawn mowing or backyard workouts, are a great way to slash reoccurring expenses.

For perspective, many people who upkeep their nails by going to a salon do so every two weeks? This sort of upkeep at AUD 40 – AUD 60 each visit would cost AUD 1,040 – AUD 1,560 annually.

Ways to manage your travel savings

Open a savings account

A dedicated savings account is a great way to ensure your savings are separated from other funds. Opt for an account with no ATM card access, which will help to deter impulsive spending and accessibility to your savings.  Watching your travel fund grow in a separate account can be a powerful motivator to stick to your savings goals too.

You could also open a travel card account like Wise, where you can use the account to transfer your savings from your normally banking account.

Make a budget… and stick to it!

Budgets aren’t about restriction; they’re about empowerment. Budgets allow us to track, evaluate and prioritise our spending, so we can still enjoy the day-today while saving to travel.

Podcasts like “She’s on the Monday” ( Spotify or Apple Podcasts) have several episodes on how to start budgeting.

Now that we’ve gone through these realistic tips for saving money to travel more, which ones will you be putting into action? Need a little inspiration? Check out these destinations.

What savings methods do you follow in order to save more money to travel?