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How To Save Money For Travel

If you’re looking for tips on how to save money for travel because you’re bored of scrolling through Instagram wishing you were off exploring the world you’ve come to the right place.

We’re here with 5 tips on how to save money for travel that worked for us when we asked the same question. These 5 tips will hopefully help you on your way to becoming an explorer – let’s begin!

Smart Food Shopping

Our first tip on how to save money for travel may seem like an obvious one but it’s actually a massive saver!

I used to be a dreaded brand snob, I would only eat Heinz Ketchup and Tomato Soup, only eat Warbuton’s bread, and if you think I’d be seen eating own brand crisps you could think again!

Ketchup Catsup GIF - Find & Share on GIPHY

I used to also primarily shop at places such as Asda and Morrisons but once I made the switch to Aldi and their own brand products I never looked back. Sure, sometimes their food isn’t as great (Aldi’s ketchup doesn’t hold a torch to Heinz but is more than edible!) but it’s a means to end. When you reduce your weekly shop from £30 to £20 this adds up. Over a year you would save yourself £520!!

P.s. Lidl’s tomato soup is amazing.

Move In With Someone

Our second tip for saving money whilst travelling may seem a strange one but stick with it.

Do you have friends/parents/relatives who have a spare room going? Be cheeky and ask if you can move in with them, even for a couple of months this adds up to saving lots of £££. Me and Beth were living in our own flat where our outgoings were about £700 a month all in with rent and bills. We asked two friends who had a spare room if we could move in for just two months and paid them £200 a month. In just two months we saved £1000!

Now this is easier said than done, we all love our home comforts and in this past two months Beth and I have missed our own space and the cute home we built together but when travelling you will be bunking with strangers a lot of the time so why not get used to it early?

If there’s no-one you can think of who’d put you up for a few months then why not use a website such as Spare Room to help save money for travelling? Again – you need to get used to living with strangers if you’re using Airbnb and hostels whilst travelling anyway – why not get the practice in on your home turf?

Use Cashback Sites

You may have seen the ridiculous ads on TV for cashback sites such as Topcashback.co.uk.

You may have been skeptical at first, I certainly was, why would a company just give you free money for spending money with another company.

But then at my current job as part of the HR benefits Topcashback was listed as one of the perks and we get a free small bonus for signing up. I spoke to my colleagues who’d used it before and loved it so figured I’d give it a go.

The way it works is using affiliates links, such as those we use on this site, from the money Topcashback receive for directing traffic to the third-party sites you get a cut of that commission. In just one month of using the site, I had earnt £87.39 from purchasing things and referring my friends. You can see in the shot below that even STA Travel have offers on Topcashback.co.uk – we bought our flights to New Zealand and Australia this way and got over £30 back (that’s a free night in a hostel!)

If you’d like a free £5 start to your Topcashback use you can use this referral link: https://www.topcashback.co.uk/ref/danpos

A good tip to save money for travel
Cashback sites: a great way to save money for travel.

If you’d like more assurances about whether Topcashback is legit you can read more about it on MoneySavingExpert.

Use Saving Apps

There’s a whole host of digital banking assistants now to choose from – it’s becoming the era of cloud banking and you can use this to your advantage to save money for travelling.

My favourite of these are:

  • Chip
  • Monzo
  • Revolut

Chip

With Chip you link it to your main current account and it monitors your spending and each week it will calculate how much money you can afford to save based on your spending habits and then will pop this into a savings account for you. You can earn interest on the money in your savings account and increase the interest rate by referring your friends.

It keeps you motivated with lots of gifs and motivational talks and is a pretty fun app to use. I was a bit wary about linking it to my bank account but further reading set my mind at ease that it was safe and I used it for a few months with no issues. Getting your money out of the savings account and back into your bank was a simple process.

Monzo & Revolut

By now you have probably heard of either Monzo or Revolut. Both are a new way of banking and are what I like to refer to as “Cloud Banks” – that is it’s a fully fledged current account with sort codes and account numbers etc but there’s no physical branches. This may seem scary at first but both are protected by the FSCS which protects your money up to the tune of £85,000 and if you had more than that in your bank account I doubt you would be needing to save money for travel in the first place.

With both Monzo and Revolut you can use your cards abroad and pay basically no fees on foreign currency transactions. With Monzo you can only keep your money in GBP and can’t transfer it ahead of time to another currency such as AUD. With Revolut however you can open up an account in that foreign currency complete with foreign bank details and transfer your money ahead of time (something we have done because of the uncertainty surrounded the complete shit show that is Brexit).

In terms of helping you save money both Monzo and Revolut have a savings account feature which when you spend with your account it will round up your purchase and put the difference into a vault for you which you can access at any time. I really like this feature on Revolut and you don’t notice your purchases being round-up but it all adds up to a nice bonus which you can withdraw at any time to fund your travels.

Sell Un-needed Stuff

As we age we seem to accumulate a lot of crap. Whether it’s upgrading our phone contracts and shoving the last phone in a drawer or collecting DVDs that we never watch now that Netflix and YouTube are the norm in visual entertainment. You don’t need it. Sell it.

Even if you only get 10p per DVD and £50 for the phone it can end up equaling a few nights accommodation in a hostel – which is the goal here – saving as much money for travelling as possible.

Another bonus to this is that if you fall in love with the country you are travelling to and end up wanting to live there permanently – it will just be more stuff to ship over in the future when you make said move.

Obviously some things you just can’t part with and that’s fine – Beth for example has a ridiculously big book collection which we have had to move three times now and is currently sat in 9 boxes in storage at her mums house and there’s no way in hell I could convince her to part with them – it’s a little bit of give and take while following this tip.

Any of your own tips on how to save money for travel?

If you have any tips of your own on how to save money for travelling then leave them in the comments below – I’d love to hear about them!