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4 Ways to Finance Your Next Trip

Ways to Finance Your Next Trip

Have you ever dreamed of traveling somewhere? Well that’s no good—dreaming won’t get you any closer to Greece, or Italy, or wherever it is you want to go. If funding (or lack thereof) is the main obstacle that’s keeping you from going on a great vacation, then you should consider these 4 easy ways to finance your next trip.

These 4 methods can help you plan either a summer vacation or an emergency trip that you’ve absolutely got to take, but you don’t have the money for (maybe you have a relative who’s in the hospital and you need to fly out to visit them). Whatever the case, these 5 methods can help you cut loose the money anchor.

1. Cut Back Spending

One of the easiest and most effective ways to finance your next trip is to cut back on your spending. “Well, duh,” you think, “I could have told you that.” But if you take a close look at your spending habits, you might be surprised to discover that your budget isn’t as tight as you thought.

Food is the single largest expense for most people. Food will naturally take up a larger portion of your budget, but your food budget can easily get inflated if you eat out at restaurants too much. You shouldn’t avoid eating out—every now and then it’s nice to treat yourself by going out to a nice dinner or brunch. But it should be the exception and not the rule. You can save a humongous amount of money by opting to prepare food at home.

Other budgetary areas that tend to get easily inflated are:

  • Alcohol-related expenses/clubbing
  • Clothes shopping
  • Cosmetics appointments

Take a close look at your budget and find areas where you can cut your spending—you might realize that your dream trip is actually quite affordable, so long as you practice budgetary discipline.

2. Sell Things You Don’t Need

If you’re truly operating on a tight budget, you’ll need to acquire some extra cash to finance your trip. Arguably the easiest way to do that is to sell things you don’t need. The internet has made it easier than ever. You can quickly sell your needless belongings on Craigslist, and if you have valuable items that you truly don’t want anymore, you can put them on eBay for people to bid on—hopefully, there’s a bidding war and you’ll receive far more than your starting price.

If you plan on traveling for a few months at a time, you might want to find a used car dealership and sell an old vehicle. You can get a huge load of cash by selling your old car, and if you’re going to be backpacking abroad then you won’t need a car, anyway.

3. Work While You Travel

Here’s another good method for people who plan on backpacking. Work your way around the globe by taking jobs at whatever location you want to visit. If you’re in Spain, find a job at a local business. Enjoy the city and save up some money, and when you’ve saved up enough, use it to go to your next location. This is truly one of the most budget-friendly ways to travel but you’ll probably have to be very outgoing or assertive to land jobs while you’re travelling. But what’s great about it is that you’ll get a more genuine local experience in each city you visit.

4. Get a Grant or Loan

If you need to travel right away but you don’t have the immediate funds, consider taking out a travel loan. A travel loan will get money in your pocket fast, and you’ll be able to repay it once you return from your trip (so long as your trip isn’t for months at a time). It’s a great financing method for last-minute voyages.

You should also be on the lookout for travel grants. Travel grants award you with free money for traveling, usually on the condition that your traveling serves a specific purpose, like studying a craft or performing environmental or humanitarian work. Browse some available travel grants online and see if there’s one that you might be eligible for.

holiday destination selection

It’s important to remember that sometimes, money can be the enemy of travel. If you spend your entire vacation in luxury resorts, you might not be able to dive into the local experiences—and it’s the local experiences that broaden your horizons and make traveling so rewarding. Keep that in mind when you’re budgeting for your next trip!

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