20 Ways to Save Money for Travel & Still Have a Life

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Looking for ways to save money to travel the world? Yep, me too. It’s the worst part about travelling, and something many of us struggle with. Use this guide to pick up some of the best money-saving tips.

How many times have you looked at someone on social media and thought, “Just HOW do they afford to travel all the time?!”

I’ve been there.

Saving for travel is tough, and most websites will tell you to forfeit something you don’t really want to give up. I’m not a big believer in this.

I think saving for travel is important, but it’s also important to still live your life the way you want to.

If you’ve done a bit of research about the best ways to save for travel, you may have come across websites telling you to travel on $10 a day. Or to get ‘free’ flights through different programs and memberships.

Whilst this may be true for some people, some of the time, it’s definitely not for the majority of us.

If you’re smart, savvy and frugal enough, of course, this can be true. But most of us can’t live off $10 a day, and we haven’t earned enough reward points for limitless free flights.

If you’re planning your first big backpacking or travel trip, you’re going to want to save a large amount of money. This is going to require a bit of dedication, but there are some ways to do it without losing your social life.

So, let’s get down to some of my favourite money-saving tips.

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• Best Time To Go Interrailing (Europe) 2022 Guide: MUST-READ!

Ways to save money to travel

1) Think about where your priorities lie

Ask yourself: how much do I actually want to travel? How much am I willing to give up to make it happen? Does every part of your being, your gut, head and heart want to travel?

Enough to break into your wages for it?

How many times have you heard friends say “Ah, I so want to travel. Maybe I’ll do it next year,” and then they never do it? The reality is, they’re not ready to save for it. It costs a lot!

That house, new car or latest iPhone won’t pay by itself. And if your priorities lie with things like that, saving for travel is going to be tough.

Rent, bills, food, transport, debt and social events all need to be factored into your wages. Is travel enough of a priority for you to save for?

Imagine someone said to you, “You need to save £500 a month towards a mortgage to buy a house.” How does that make you feel? I know for me, it’s a huge no. I can’t afford that!

Yet if someone said to me, “Save £500 a month to travel the world for 12 months,” Oh, well sign me up. I’m in. Maybe I’ll lose the new pair of boots I want and stay in one or two weekends a month.

Travel, to me, is a priority.

2) Decide on your saving goal

One way to keep yourself motivated to save is by setting yourself goals. Big or small, saving goals will keep you accountable and on track each month.

If you’re unsure of where to start, aim for roughly £1000 per month of travel. This is a good starting point, and will give you something to work on.

That also makes the math simple. Five months of travel? Your saving goal is £5000.

Now, of course, this is a blanket statement. If you’re going to stay in 5* hotels and travel by plane to every location, five grand isn’t going to get you far.

But, if you’re a backpacker prepared to live in dorm rooms, eat street food and ‘rough it’ a bit, £1k a month is a great starting point.

Set a goal, decide on how much you’ll need to save each month, and stick to it.

3) Work out a realistic ‘wage:saving ratio’

Told yourself you’re going to save £500 a month? Great, go for it! But just remember you need to save yourself money to live, too…

Sit down with a pen and paper, and work out a realistic wage:savings ratio. Start small, be realistic.

Yes, £500 would be great to save monthly. But does this leave you with enough money to eat, socialise and have a life?

Always set realistic travel goals, or you could end up throwing yourself off the saving train altogether.

If you’re just starting out, I’d recommend saving <10% of your monthly wages. This can always be increased if you find you have leftover money at the end of the month.

4) Track and monitor what you spend on

Making small (yet important) changes to your lifestyle will make a huge difference when it comes to saving for travel.

It’s important to still make time for friends and family when you’re saving. Don’t become a hermit in your bedroom because you can’t bear to spend money on something other than travel (I’ve been there).

Saving for travel is all about balance. And that’s why it’s important to stick to the wages:savings ratio, too.

Take advantage of phone apps. There are money planning apps that track and monitor your spending in a pretty graph and diagrams.

Some banks have the option to show pie charts and spending habits on their apps. Using Monzo is great for showing what I’m spending my money on (did you say £300 on eating out?! Yikes!)

Keep an eye on where your money goes and try to make small changes (like not spending £300 on eating out a month. That will help).

5) Move your money to a savings pot as soon as you get paid

Set up a designated pot or account with your bank to put your savings into. Move your money as soon as you get paid, into a pot or account, or somewhere you cannot touch it.

If you think you’ll withdraw money when you’re on your last legs at the end of the month, think about transferring it to a family member or friend.

Move the money and DO NOT TOUCH IT.

6) Set yourself a budget for social events

Say yes to the social events, but keep a limit on your spending.

This may sound a bit scary, but setting event budgets will make a HUGE difference.

Back in the day, I used to withdraw a set amount from the ATM to spend on an event. I’d leave my bank card at home, and then drunken slip-ups couldn’t ‘accidentally’ happen.

Nowadays, we don’t tend to use cash as much, so this is much harder. A good way to keep your spending down is to move all your money into a pot. Keep ONLY the money you want to spend on the night out in your current account.

For example, if you have £600 in your account, transfer £550 into a temporary pot. This leaves you with £50 (and £50 only!) for your night out.

‘Tipsy you’ is way less likely to go shifting through pots to find more money. And if you do, well, you’ve got way better drunken skills than I have!

7) Mix and match outfits

One easy money-saving tip is to reuse and recycle your clothes. It can be tempting to shop online for new events, but mixing and matching your outfits for free is even better.

Invest in some staple items like blazers, skirts and jeans. Mix and match these with different layers to create an entirely new look. For free!

8) Drink wine, not spirits

If alcohol is stopping you from saving for travel, try and change your drink.

Spirits can cost up to three times as much as a glass of wine! If you can stomach it, swap out the gin for a bottle of wine. It will make all the difference to your travel fund!

9) Be prepared to say no

As much as I want you to have a social life, there are some times when you should say no.

Do you really need that trip to the cinema? Or the random night in the pub? Or another meal out in the city?

If it’s not a special occasion, really think about whether it’s worth it or not. A spontaneous night in the pub could end up costing you over a hundred pounds. That’s money that could have gone into your saving pot!

10) Make your own lunches

Although it may take time, making your own lunch is one of the best ways to save money.

If you work in a major city, the lunch options are endless. And tempting. But buying lunch every day adds up!

Even a £3 meal deal five times a week adds up to £15. If you cut that, you’ll have an extra £60 a month to add to your travel pot. That’s a huge saving!

Bulk buy pasta, rice and cheap ingredients like bread and cheese. Get in the kitchen and make your own lunches to save all those extra pennies for your trip.

11) Make your own coffee

Brits spend over £700 million on coffee a year. There’s no doubt we love our morning coffee, but how much is it actually costing us?

Try to swap out your Costa coffee for your own. Invest in a coffee machine (you can buy for under £30 in stores like Currys) and make your own. Some Londoners spend £5 a day on coffee alone. That’s a crazy £25 a week saving!

Any money you save on coffee, add straight to your travel fund.

12) Download free apps to round up your change

Use Internet banking? Chances are your bank will allow you to round up change on your everyday spending.

This was a game-changer for me, and in the past six months, I’ve saved over £200 from roundups alone.

Switch on the ’roundup’ feature on your bank’s app, saving money every time you spend. Spend £2.50 in a shop and the app will automatically round up your change to the nearest pound. That’s another 50p in your travel pot!

It may seem small, but it adds up!

13) Change your supermarket

If you shop in supermarkets like M&S, Waitrose or Ocado, you might want to think about switching.

Tesco, Sainsbury’s and Asda are a lot cheaper and often run deals on certain items. Take the time to sign up for a loyalty card (like a Tesco Clubcard) to make sure you’re earning rewards as you shop.

To go one step further, make a note of how much you spend on food each week. Try and work out how you can cut the amount down to add more to your savings.

14) Quit the gym

I’m all for exercise, but is the gym your cheapest option?

One tip for saving money is to quit the gym. With monthly memberships costing up to £200 in London, this is a quick, easy fix when it comes to having more money for travel! (Plus WHO can afford to spend this on a gym?!)

When the gyms closed during lockdowns, most of us had to look for alternate ways to exercise. Youtube, workout videos and even Instagram reels offer free workouts now! You can find free exercise alternatives everywhere on the Internet.

If you don’t mind spending a small amount of money, sign up for the home workouts on Les Mills. It’s only £12 a month and gives you access to thousands of Les Mills workout videos on their app, and their workouts range from HIIT to Barre to yoga. There’s a workout for everyone!

Alternatively, lace up your trainers and head out to the streets for a run!

Running in London or a major city? Check out these safety tips before you go.

15) Add any extra money to your travel savings

Got a side gig along with your full-time job? Had a big birthday where you’ve received some money? Sold clothes online?

Add it straight into your travel pot. After all, it was ‘bonus’ money, so you won’t miss it elsewhere!

16) Avoid credit card debt

As tempting as credit cards may sound, they’re a slippery slope to go down. The £5000 limit may sound fun, but it’s going to be way harder to pay back in the long run.

And it may even hinder your travels if you’re paying back debt whilst you’re away.

Credit cards add interest every month. Most months, you’ll end up paying off just the interest alone! It will cut way into your travel savings and add a weight on your mental health.

If you’ve found a credit card with smart rewards and bonuses, go for it! But be sure to pay back your debt each month to make sure it doesn’t creep up on you all at once.

Avoid credit card debt at all costs!

17) Sell your clothes online

Another easy way to save money for travel is to sell your old clothes online.

Although it may take a while to get your online shop set up, take photos and post the items, it’s a good way to make money back from clothes you no longer need.

I’ve used Depop in the past, but I’ve recently found Vinted to be more successful. There are no selling fees, the buyer pays postage, and any money you receive goes straight into your bank account.

Make sure your photos are in a good light, ironed, and look as aesthetically pleasing as possible.

I write a generic description and a few hashtags, but I think it depends more on the photo! (Avoid awkward mirror selfies, for all of our sakes, please!)

18) Walk more!

London transport isn’t cheap. And even if you don’t work in London, spending money on public transport or petrol isn’t ideal.

If you can avoid driving or public transport, do it. Walk more. Breathe in the fresh air. Not only will you feel better, but you’ll also have huge savings in your bank account to add to that precious travel fund.

If your journey is too far to walk, consider cycling. London offers ‘Boris bike’ hire, as low as £2 for 24 hours. Alternatively, invest in your own bike and you’ve got unlimited free transport!

19) Get creative with your date nights

One (tiny) good thing to come from the pandemic was learning how to entertain ourselves. Tom and I became experts at creating our own free date nights, and most of them we still do today!

If you and your other half are saving for travel, the last thing you want to do is splurge out on an expensive meal. Treat yourselves to a low-cost or free date night!

Cook a homemade meal, set up a picnic in the park or grab some street food at a local market. Anything that keeps the costs down but allows you to still have fun!

20) Buy as much as you can second hand

Remember talking about selling on Vinted earlier? What about buying on Vinted as well? 

The majority of items you’ll find may be poor, but if you dig a little deeper, you can find some hidden gems for a fraction of the price they were originally.

Additionally, visit charity shops for second-hand books, house decor and clothes. When I lived in America, Goodwill was my go-to when buying vintage clothes. You just have to shop around!

The best ways to save for travel: In a nutshell

Feel a bit more clued up on ways to save money for travel?

Hopefully, this post has shown you some easy money-saving tips to help save for your first big backpacking trip. Remember, if you want the trip enough, you’ll find a way to save for it!

Have another fun money-saving tip? Let me know in the comments below!

Happy travelling 🙂

Jennie x

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