How We Afford to Travel

Everyone has their thing...for me it's traveling. I don't need a nice car, nice clothes, new shoes, or anything of that nature. But I need to travel and I prioritize it. People often ask "how do you afford to travel so much?" (right after, "how can you travel with a baby?") My partner and I are both blessed to have full-time jobs and a steady income. This combined with prioritizing travel allows us to afford several trips per year. Please note, these tips may not work for everyone, this is simply what has worked for me and my family.

Sticking to a Budget

The first step toward saving money for travel involves analyzing where your money is going each month. It can be a real shock seeing a breakdown of your spending by category. Many of us don't realize how much money we spend eating out, or how much is "slipping through the cracks." If you are new to creating a budget, there are many free apps out there that will help you get started. I used Mint when I first started budgeting. You can link all of your cards and accounts, which makes tracking your spending almost effortless. Now I use an excel spreadsheet which I tailored to meet my needs. I check my budget each Monday (I call them "Money Monday's") to ensure I am staying on track.

Once I saw where my money was going, I chose several areas where I knew I could cut back. First, I saw how much money I was paying toward consumer debt. This was a huge shock. I decided to tackle that first, throwing as much money as I could toward paying off anything that required a minimum monthly payment. It was difficult, but definitely worth it in the long-run. Next, I tackled some of the smaller items in my budget (a few $25-50 charges here and there really add up). I set a strict budget for groceries and dedicated myself to meal prepping most of our food (this also helps us stay on track with our fitness goals!). I bought a coffee maker and milk frother because I couldn't figure out why I was paying $5 per drink at Starbucks. I opted for a cheaper gym membership. We cut out cable and watch all of our shows on Netflix. I negotiated a cheaper internet payment. I do my own nails and wear my hair in its natural state. I set a strict budget for "self-care" and use that to buy myself something reasonable each pay period. Etc, etc. Combining strategies like these saves me hundreds of dollars a month which can be used toward travel.

While there are some large standing expenses that aren't going anywhere (hello mortgage, hello daycare), I know that I can cut back even more in the near future. Some of my plans include returning my leased vehicle for a cheaper option and consolidating student loans. Budgeting is a on-going task! I don't like it at all, but the savings are so worth it.

Finding Travel Deals/Travel Apps

Currently, I only use Expedia to book our trips. I feel like using their "Bundle" option saves tons of time and energy (I am limited on both at this point). We still find amazing deals using their website, often saving hundreds on travel. I usually cap our travel at $1000 per person (which includes both flight and hotel for the entire trip). Currently, baby travels as an infant-in-lap, so her ticket is only 10% of the price of an adult ticket!

There are many other apps and websites where you can find deals even cheaper than you would find on Expedia. I have used the following in the past:

Momondo (note: I have never booked through this website, I only used it to gauge prices)

Skyscanner

SecretFlying (updates on cheap flight deals and error fares)

Savings

I am currently saving toward some larger life goals and do not have a dedicated savings account for travel. However, many people do and it is worth mentioning. Having a savings account for travel expenses will allow you to pay cash if you find an amazing flight or hotel deal. One way to make this easier is to contact your payroll or bank and automate a set amount of savings from each check, then act as if it were never there in the first place. Learn to live on a smaller amount and only dip into savings if it is an emergency (a sale at your favorite store is not an emergency!)

Other Options

Affirm

Affirm is a company that allows you to book your travel now and pay at a later date. I have used this option when coming across deals that are too good to pass up. Please be aware of how loans and interest work. Sometimes it is simply not worth borrowing. I try and choose the shortest payment term in order to keep my monthly spending at a minimum.

Travel Cards

I have yet to dive into the world of "travel hacking." Some travelers utilize credit card sign-up bonuses in order to book free flights, hotels, and upgrades. This method only works if you are dedicated to paying the entire balance before your due date each month, as paying interest will eventually negate the benefits of the sign-up bonus. Additionally, you must spend between $3000-4000 in a certain timeframe in order to receive the sign-up bonus. I plan on attempting this for the first time this year and documenting my experiences!

This is how we currently afford to travel. I want to begin traveling more frequently and will continue to update you all with the strategies that are/are not working for us!