The first question I always get is, “How do you make travel work with a full-time job?”
The second is, “How do you afford to travel with a full-time job?”
Social media and even these blogs make us believe that influencers and travelers have money trees growing in their own backyards. As much as I would love a money branch or two, it’s really the hustle you don’t see that makes a person’s travel fund possible.
It’s hard to afford a trip. And, it’s even harder when you don’t make a gazillion dollars. However, it is possible, and all you have to do is just be smart and strategic.
Here’s how you can make a monthly budget when you don’t make much money:
1.) Be Brutally Honest With Your Spending Habits
This might be painful – but we’ve got to start somewhere.
Grab pen and paper and write down all of your monthly expenses. From rent to electric, to Fab Fit Fun boxes, to your Spotify membership, write down everything that comes in and out of your checking and credit card accounts each month. Make a column for payment due dates and add up your total amount of income for the month.
…Now how much is left? If not much, don’t worry – we just need to do a little reorganization.
2.) Determine The Cost and Budget Of Your Trip
Now that you have a clear picture of your monthly income and bills, determine the entire cost of your trip. This includes flights, food, accommodations, excursions, etc. Once you have that final number, you will be able to back-in to the amount you need to save to go on that trip.
For example, if your regular income is $3,000/month after taxes, you can break it down much as follows:
Income: $3,000
Bills: $1,500
Debt: $500
Additional Monthly Expenses: $700
Remaining: $300
Remaining Balance: $300/month for miscellaneous travel!
If your total trip cost is $4,000, then simple math shows us that you only need to set aside $300/month for about 13 months to be able to afford your trip. A little over a year of saving $300 a month? That’s nothing!
*Tip: the more days, months, and years you have to save, the less money you need to save from your total income each month. So, plan your trips well in advance!
3.) Decide Where You Can Sacrifice
Are there any subscriptions you can cancel? Maybe you’ve been going a little crazy on your weekly Target shopping spree? Will you survive if we cut out that Starbucks coffee run and Chipotle treat every Friday? I promise you will.
If your bank statement consists of more DoorDash charges than cash, we need to reprioritize where you are designating your expenses.
Take inventory of where you can trim the fat on your monthly payments and you’ll find you have more than enough to set aside for that big trip. All it takes is determination and discipline, not to mention a clear idea of what is worth swiping your credit card and what’s not. And…I promise, a week in Tulum is worth more than that weekly Thirsty Thursday outing.
4.) Get Creative & Get Saving
Now that you are aware of what you have coming in and what you have going out, it’s time to get creative.
What can you do besides deciding not to eat out this weekend, or canceling that gym membership that you’ve only used twice? Thankfully, there are plenty of options to earn extra income. Look into babysitting, dog walking, freelancing, and even doing personal assistant work.
One time, I simply ran errands for a neighbor and she paid me enough to cover one full-day excursion in Prague. Another time, I babysat six kids at once so their parents and their parent’s friends could enjoy a night out. More often than not, I asked my co-workers, friends, and family members if they need help accomplishing daily mundane tasks and if they would be willing to invest in me to do it for them. You would be surprised how many people want you to succeed and are willing to exchange their needs for cash.
It’s all about thinking outside the box and using the skills you already have to generate extra cash flow. You don’t have to get a brand new high-paying 9-5 job; you just need to find a side hustle that still allows you to live your life while also filling that travel fund.
It’s hard to even think about going on a trip when your wallet contains dust balls and sounds like crickets when unsnapping. However, I’m proof that anyone can travel. At 22, I was barely making $30,000 a year, and yet, I still managed to build my travel fund. With discipline and determination, and perhaps a bit more work, it’s not impossible to travel on a budget.
You can do the same.
Looking for help with creating your personal monthly budget? Need some side hustle ideas? Want more tips on how to save for your dream trip? Contact me today!
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