I am planning a RTW trip beginning next xmas/new year. I will be starting in Central/South America and then over to NZ and Oz (where I plan to work work work) and then home via SE Asia.
I would like some tips/advice on innovative ways people have saved for their trips. I don't have an amazing wage (£15K) at the mo. I dont live with family so have rent and bill committments. I dont drive.
Aside from the obvious like dont go out for a year and get a better job (which i plan to do) can anyone help. I have considered putting £5 - £10 each week on lottery tickets/scratch cards and putting any winnings into the travel pot.
Good luck with your RTW adventure. There are really only 2 ways to increase your nest egg; increase your inflow, decrease your outflow. You are already looking to get a better paying job, now work on the outflow. Perhaps you need a roommate to half your rent costs. Or move in with family/friends. This is your largest expense, you need to lower it as much as posbbible.
Put $1/week into lottery just so you can dream about hitting a large jackpot. It gives you a pleasant daydream for small money. More than that will add up to real money after 1 year. Good Luck.
Firstly I would forget the lottery tickets, or at least reduce it to £1 or £2 a week. You rarely win money when you really need it..go on..prove me wrong!
You could consider getting a second job, thats what I did, 2 or 3 nights in a lively restaurant, bar or something. It gets you out and makes you money at the same time.
Think about every penny you spend. That cup of coffee and a doughnut could be a whole days food in the likes of Thailand. Every newspaper could be a beer etc. etc. Think like that and you will find yourself becoming the biggest scrooge ever!
Go round your flat and anything you dont need, want or like..stick it on ebay. You'll be amazed what people will buy! Alternatively try boot sales.
But do allow yourself the occasional luxury otherwise you could get totally peed off and give up! Dont!
Best of luck Simon, if I can do it, anyone can!
I have considered putting £5 - £10 each week on lottery tickets/scratch cards and putting any winnings into the travel pot.
Oh, Simon. That's a bad start.
First, don't listen to vegasmike (sorry, mike) who thinks somehow that you will be able to save dollars (or maybe he has the same problem I do and doesn't know where the Pound key is on his keyboard) and start listening to baluba -- he knows what he is talking about.
My further tips:
1. Throw all spare change into a well-sealed piggy bank.
2. Carry your lunch to work.
3. Reduce all permanent ongoing expenses (if you can reduce your month cell phone bill by $5 (just call me mike), then that's sixty already. What about the cable TV bill? The telephone bill? Call-waiting that you don't need? What about other monthly bills?
4. Reread baluba's post (lots of good ideas)
And forget the lottery (ever study the odds?) That will save you 250 -360 alone.
Off to peel potatoes -- another way to save money.
Im in the same boat as you … not the best paying job (13k) and saving for a trip next year. Basically Ive put myself on a STRICT budget much to the amusement of my friends.
What’s worked for me is:
1. Taking bus to work instead of tube OR walk to work whenever possible…50 mins nice bit of exercise as well!
2. Taking my lunch to work.
3. I do babysitting whenever I possibly can basically paid to watch TV. So second job would be a bonus!
4. Any money I do set aside is in a separate account not attached to my card so can’t just dip into it.
5. Still go out on the weekends but limit the money I take out like you say you can’t not go out for a year.
6. Every pay cheque I make sure I put a specific amount away for the trip no matter what.
Anyway these seem to work for me but I think everyone’s situation is different.
Good luck with it….I just keep thinking of the end result!!!
When I was saving to go traveling, I set up a savings account, and set up a standing order for the day I got paid. I had a set amount going from my current account to this savings account, it was also a notice account, therefore I didn't have instant access to it.
Ask your current employer if there is any over time going. I did a lot of this last year, earned me heaps of extra cash & resulted in me having less free time, which meant I didn't have time to spend money. Or as others said look for a part time job (preferably cash in hand otherwise you'll get taxed heaps!)
If you go out, limit yourself to £20 for the night, don't take your cash card out with you. Or invite your friends around more, dvd nights, cook for them?
It is hard, but just think what you're saving for, it's so much easier when you have a goal.
Ask your current employer if there is any over time going. I did a lot of this last year, earned me heaps of extra cash & resulted in me having less free time, which meant I didn't have time to spend money.
That's a good point! Unfortunately for me, the inverse was also always true (seasonal work): the less time I was working (and earning money) the more time I had to spend what I was not earning.
But you are right: one of the best ways to save (i.e., not spend) money is to always be working and have no time.
Simon if i was you I would do what baluba said and i would try and get a job in a local Pub @ the weekends, that way you are going out and getting paid for it!, its what im doing actually to try and say for my rtw trip. You probably wont like barwork for the first few weeks (it is stressful when u dont know where anything is or how to pull a good pint!), but once you have properly learned to pull a pint/use the till/know where everything is, then you will start enjoying yourself, and maybe pull a few birds!
But as i said, if you do decide to do barwork, be prepared for for a stressful first few nights, but once you get past that, you will love it! (well i do now anywayz)
Just a quick note to apologize for being unduly hard on Mike (was only meant lightheartedly). His tip about the roommate is a good one (nothing can beat cutting your shelter costs in half).
BTW, he confirmed for me that we are both in the "Pound-key Illiteracy Club".
I can sometimes do euro signs and dollar signs but that's the limit of my talent.
Saving money, for travelling is practically a hobby, for me, which i have impoved and improved over the years.
I have a boyfriend and child. We live together in a rented appartment, and all on my boyfriends wages, which are moderate. We travel, and go out, with the money we save, by living cheaply, in every other way.
But how do i start giving u tips? There are so many. I will add them to this post, when i think about them.
Do u smoke?
If so, dont smoke Marlborough, or any popular brand. We smoke the cheaper cigarettes, which are in the budget supermarkets. They are just as good. And limit the number of cigarettes u smoke. If u smoke a pack a day, cut down to 5 per day, if u can.
I cook, so i buy whatever food is currently seasonal and whatever is on special offer. Because i can cook well, i can make things with just about any ingredients.
Clothes i buy, are 5 or 10 euros for shoes. 5 euros for trousers or skirts. 1 euro for T shirts. I dont know the names of the bargin shops, where u are, so i cant help u more than this. I often buy them, when they are on sale.
When u are going out, only go to things that mean a lot to u. ie. not getting drunk, at the bar down the street 3 times per week.
Dont bother with scratch cards or the lottery. Mostly they are a waste of money. Concentrate more on fine turning your spending, on everyday things.