Learn ways in how you can build a travel fund for your next trips and vacation.
What’s the use of piso fare promos for 2018 if you don’t have the funds to buy those cheap airfare deals when airlines offer them, right?
If you have been following 1Pisofare.com, you know promo fares are limited. And like what we always suggest to our ka Piso Fare friends, to book right away when there is an Air Asia Red Hot Sale, a Cebu Pacific piso fare, a Philippine Airlines ultimate seat sale. But how can you pay for your reserve tickets if you don’t have money on standby?
That’s why building a travel fund AHEAD is important. If you have money already set aside, say when Cebu Pacific offers low fares, you can book and pay right away.
Taking a vacation, even a short one, even if you strictly follow a ‘budget’ itinerary, you still need cash. There is just no escaping it. So, as early as now, start saving up and build yourself a fund you can dip your hands into whenever wanderlust bit you hard and you just need to go!
COUNT ON YOUR TRAVEL FUND TO PULL YOUR THROUGH!
Travel takes us to places that rejuvenate us. It gives us the opportunity to vacate from our usual environment, and explore more of the world. Name someone who would rather curl back to bed if given the opportunity to getaway. There may be an instance or a few people that would, but the majority of us are born travelers!
So the saying goes: “If traveling was free, you’d never see me again.”
Then suddenly reality sank in…You are free to travel but traveling is NOT FREE…
Don’t lose hope immediately though, because for anyone who really wants to travel, there are smart ways you can save up for it. To help you with those ideas, read on this 1Pisofare Guide for the most efficient Travel Tips on How to Save for your Next Trip.
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DECIDE ON YOUR DESTINATION
Plan your travel, destination is your key. Where do you want to be on your summer vacation the following year? Will you finally go to your dream destination – Maldives? Batanes? Japan? Or sunbathing in the beautiful white beaches of Boracay or Palawan? Location matters!
Destination matters in travel budget planning, examples:
- Travel to Japan is more expensive versus a Hong Kong vacation. Just in case you need info, here’s a link to getting a Japanese Visa for Tourist.
- Batanes flights are expensive versus flights to Cebu.
Location or destination is important because if you know the exact place you are going to and aided with a little research, you will be able to determine and / or estimate how much money you will need to save. Once you have a ball park figure, you can then decide when you want to go there.
If you have those two details, divide the projected expense by the number of months you plan to save for them.
Knowing how much you need to set aside monthly for your travel fund is the first step. The second step is of course finding where you will get the monthly travel fund commitment. *We have a recommendation for this in the next tips.
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MONEY JARS, PIGGY BANKS, BUDGET ENVELOP – Go for budget planning
Create a monthly budget and be disciplined enough to strictly abide by it. How you divide your money really depends on your lifestyle and the responsibilities you have that entail money.
Money Jars can be allocated budgets for Food, Rent, Fares, Personal Savings, Emergency Expenses, and Travel Fund. *Some individuals prefer envelop-budgeting, instead of money jars.
You can also have more than one bank account, the main one for your savings and living expenses, the second one for your travel fund. There are bank products which requires no maintaining balance like Cebu Pacific GetGo Debit Card by UnionBank. You can also try out the BDO Cash Card, this bank product does not have maintaining balance too. And if you can request your bank to facilitate an auto-debit wherein a portion of your salary goes straight to your bank account every pay day, that would be best.
Having mentioned lifestyle, if you are dead-set on this trip you are planning for, some aspects of said lifestyle can be sacrificed until your travel goal is met. For example, if you are a true-blue coffee shop junkie and your to-go coffee is an everyday thing, you can switch to getting your coffee at the vending machine in the office for the time being. Coffee at the workplace is usually free and it can help you save a lot.
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SAVINGS WITH A TWIST
Familiar with the 50 pesos challenge? You can do it for your travel fund too!
How does it work? It’s simple. You make a commitment to yourself, that ALL the 50 pesos that will land on your hand (make sure it’s yours 🙂 ), it will go straight to your money jar. No matter if the store gives you 6 pieces P50 bill as change, they all go straight to your money jar. No exceptions. After a few months, you’d be surprise how much the 50 pesos challenge have given you already!
Yona Abella is perhaps the most famous of those who successfully implemented a 50 pesos challenge.
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EXTRA INCOME – Find a sideline, Do a racket
If you want to effectively build a travel fund fast, it’s recommended to find an extra income stream. The earnings from your racket and sideline can be put wholly into your travel fund, if you so choose. You build your fund faster that way.
On your spare time you can work on earning extra money, you can perhaps do some direct selling or buy-and-sell online. Or sell pre-loved items. If you are good in crafting, offer one on one coaching for a minimal fee. Calligraphy is attracting interest, if you are skilled with calligraphy, offer it as a service. Facebook selling of ladies hand bags is HOT right now, it might work for you too.
Remember that it is not only your job that can help you raise money. When was the last time you checked on what else you can do? You may be good at baking, sell cakes and pastries. You are probably a wizard for arts and crafts, sell them online. Explore freelancing and online job sites too, there may be a need that you can fulfill, apply there. There’s lots more you can do, so do it!
It may be challenging to start but you’ve got to do it. Remember your goal. Remember your dream vacation.
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EXTRA INCOME AT WORK
Yes, so even if it was previously mentioned that it is not only your job that earns you money, please also remember that it is not only your usual pay check that does. There are possibilities of bonuses and incentives. If your company has a program in place for that, aim to make it to the list of top performers. Perform well so you can earn the extra cash perks at work, and before you know it, you will not only be traveling. You will be traveling with a purpose…to celebrate your promotion!
Don’t forget the other extras like the 13th month pay. Others are even provided 14th to 15th month pays. Plus there are companies that convert unused leave credits. Then if you do get these perks from your company, reward yourself, by using part of your bonus for your travel fund.
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NO UNWANTED EXPENSES
If you are used to going out on the weekends with friends, you can perhaps suggest that you’d invite them over and cook for them whatever you already have on the pantry. They can also do the same on those other weekends. If you are into regular drinking or smoking, minimize them if you can’t quit for good. The idea is that for the entire duration of your project to raise that money for your travel, you need to set your mind into spending only what is necessary.
Vacations and getaways are fun, but you need to get ready for the expenses. We hope these tips on how to build a travel fund can help you get started and also aid you in achieving all the traveling you have in mind.
Check out other 1Pisofare Guides and Booking Tips by accessing the category. You might find a gem or two therein. Salamat Ka Piso Fare Friends!!!
Again, do save for your vacation real early on, so you are not stress money-wise as your flight dates comes near.
Cheers to more happy travels! Like and SHARE!!!
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