You might assume that anyone who travels a lot has very deep pockets and is profligate with their money, but neither of these things is necessarily true. In fact, travel can fit into a budget-conscious lifestyle, and the tips below can help you accomplish that.
Cut Your Expenses
If you want to travel, your first step should be to cut your expenses. What this looks like in practice will vary from person to person. Some are willing to give up going out to restaurants or frequent clothes shopping to have more money for travel, while for others this will not be worth it. You can find your own comfort level, but in some cases, there are easy ways to lower expenses that will appeal to everyone. If you have existing student loans, you might be able to get a student loan refinance. This could mean paying less each month on your existing balances.
Save on Accommodations
Unless you have financial freedom, expect to have to budget for your trip in every area. Besides airfare, accommodations are the most expensive part of travel. There are a few ways to get around this depending on where you are. Most hostels for travelers cater to people of all ages, not just young people and college students. If you love the outdoors, camping may be an option.
You could also look into home exchanges. If you are a pet lover, there are sites that will connect pet sitters and house sitters with people going on vacation. Sometimes, renting a house or apartment is cheaper than a hotel room, especially if you can prepare meals there. There are even organizations that connect you with those you can stay with for free. Sometimes, this is based around a particular interest, such as cycling.
Go Full Time
If you are a freelancer or you work remotely, traveling full-time may be a possibility for you. If you are a renter, you can put the belongings that you care about in storage. If you are a homeowner, you can rent out your place while you’re on the road. This ensures that you pay only one set of living expenses, and since much of the world is cheaper to live in compared to the United States, your costs will actually be lower when you’re on the road. If you want to stay within the US, you can stick to parts of the country where the cost of living is lower.
Live Like a Local
Even if you don’t become a full-time traveler, spending weeks or months at a time in one place, you can live like a local when you go on vacation and save money. In many places, restaurants and attractions aimed at tourists are priced much higher than the places where locals like to go. Shopping at farmer’s markets or their equivalent wherever you are in the world and cooking for yourself can allow you to enjoy some of the local produce and specialties without paying restaurant prices. While there will be times that you’ll want to splurge on touristy attractions, choose carefully. Forget about the sights that everyone says you have to say and focus on what is of particular interest to you.
