Featured Blog of the Week: Twenty-Something Travel

Featured, Finances & Savings, Planning — By on June 11, 2010 at 2:00 pm

This week’s featured blog comes from our friend, Steph, over at Twenty-SomethingTravel.com, a blog about travel for young people; the why, the where and the how. Here, she shares some great (and easy!) tips on how to stash away a nice chunk of travel money.

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The Small Things: 9 Little Ways to Sock Away Travel Money

In last month’s money update I wrote about major life changes you could make to save money. While incredibly effective, I know those aren’t always the easiest things to implement, so today I wanted to go in the opposite direction and round up some small things you can do to help build your travel fund.

None of the things I’ve listed below are huge sacrifices, but over time they can add up to be fairly significant sources of money:

  • Stop Buying Food- Not all food obviously (you still need to live) but you can save a bundle in the long run by brown bagging your lunches and cutting back on coffee breaks. That $3 Starbucks latte every morning is going to run you over $1000 a year.
  • Start Stockpiling Change– Any time I get change back from a purchase I pour it directly into my large glass change jar.
    Once it’s full I head on over to coin-star and convert it back into lovely dollars. It’s inspiring to watch the jar fill up and I know from experience that once my jar is full it’s probably holding at least $100.
  • Stop paying for entertainment- There’s this really amazing place called the library, where you can borrow all the books and movies you want for free! It’s kind of amazing when you think about it.
  • Buy Generic– Now is not the time to be all snobby. It is the SAME STUFF, I swear. Save yourself the $2 and pick up the store brand shampoo, Advil, Tostitos, whatever.
  • Quit impulse buying– this has saved me a bundle. I used to spend a lot of money online (clothes) shopping. When I started my Spending Diet the very first thing I did was impose a 24-hour waiting period between putting anything in my online cart and pressing buy. The difference is incredible- I very rarely buy anything online these days. And I don’t really feel any worse off for it.
  • Quit the Gym– You’re leaving soon hopefully anyways, so now is as good a time as ever to start learning to live without your gym. Easy for me to say, as I’m only vaguely familiar with the idea of a workout room, but I DO know that those memberships are expensive.  Make the sacrifice and start working out at home or jogging.
  • Become a Little Lamer– Last month we determined that the biggest money suck for twenty-somethings is nightlife. If you can find free things to do or start staying home even one weekend night month you can save yourself a bundle. One suggestion for ruining your social life? Start a blog! I’m writing this on a Saturday night right now.
  • Sell stuff– I’m going to be talking about this in more detail in future columns, but it’s always a good time to start looking around your house and thinking about what’s expendable. I guarantee you probably have some junk that you could pass along to another grateful owner in exchange for a few bucks.
  • Push yourself with a Savings Challenge these little things add up over time, but sometimes you need a surge to keep you going. If you are feeling ambitious you might try Ramit Sethi’s “Save $1000 in 30 Days” challenge, which includes a lot of great tips for how to squeeze every last cent. Or the Untemplater 30-Day “No Spend” Challenge.

In addition to padding your bank account, I think that doing these things has a positive psychological component. Just like World War II home front efforts, making these small daily sacrifices reminds you that you’re working towards something bigger. Every day you put away a little change and bring yourself a little bit closer to reaching your travel goals.

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    3 Comments

  • Jen says:

    Hey. Great post. I actually wrote somethig similar last week. How simple it would be if we didn’t have to spend money on anything. And it always seems like just when you think you’re beginning to save, bills come out of nowhere. Anyway. Thanks for your other suggestions.

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