The global travel industry was worth over $7.6 trillion in 2016 according to the numbers published by Statista. Of course, this amount has most likely already gotten even higher by now, considering how in-style being a traveller is these days. Before you jump on the bandwagon, however, you need to first understand that booking a flight can be really expensive unless you’re only travelling locally. And even if you are, you’d still have to shell out a considerable amount for accommodations.
So, does this mean only people who make a great amount of money can feed their wanderlust? Well, having a huge salary certainly helps, but that is certainly not the only way to go about the whole thing. In fact, even with a modest income, you should still be able to fly regularly. All it takes is a little strategy.
Cut back on pointless spending
Did you know that, in general, there are at least 11 things that people regularly waste money on? That’s according to a CNBC article by Kathleen Elkins. From ATM fees and unused subscriptions all the way to brand-name items and bottled water, people seem to enjoy spending their hard-earned cash on things that they don’t really need.
Cutting these money drains out of your monthly budget should instantly increase your cash flow. The extra money you get from doing so, of course, could then go directly to your travel fund. The great thing about this approach is that it doesn’t require any additional effort—like taking on a side hustle or forcing your boss to give you a raise—on your part.
Watch out for special offers
Another great way to make funding your trips easier is to save on travel expenses—and one of the best ways to do so is to watch out for special deals like seat sales. The only downside to this option is that most such offers are only available for a limited time. This means that you need to have cash on hand once you spot one if you want to be able to capitalize on it. Well, this is where borrower-friendly low-interest personal loans come in. In most cases, going this route allows you to still shell out much less total cash than you would had you passed up on the deal.
It’s all about prioritising
At the end of the day, funding your travels shouldn’t be as big a challenge if you set your priorities straight. By redirecting the cash that you normally spend on all sorts of unnecessary things, you should be able to build a solid travel fund in no time. Couple this with constantly being on the lookout for travel deals and the whole process should become even easier.