How to Fund Travel: Taking Out a Loan and Alternatives

Saving money on a monthly basis is not child’s play. But if your passion is traveling, money is necessary: you need a budget! The number one complaint I hear from people, however, is that they can’t seem to save. And I get it. Sometimes you need to be forced to pay for something in order to make it happen.  Here I’ll give you some suggestions so you can put aside money and how to fund travel for your dream trip. I’ll also give you my opinion on taking out a loan for that trip.

 

How to Fund Travel – Saving Tips 

 

Adapting to New Spending Habits

 

It is possible to spend very little if you can adapt. At first, it can be annoying but remember that everything that makes you leave your “comfort zone” teaches you something and above all gives you many anecdotes to tell when you return!

 

Goodbye Car

 

Having a car, even if it is an amazing one, involves a considerable cost: fuel, insurance, installments, and maintenance. If possible, and I understand that it is not feasible for everyone – use public transportation to get around or use the bike or go on foot. When you are looking for how to fund travel and future trips, saying goodbye to your car is a great way to start!

 

Find a Roommate

 

If you have a room available at home, rent it! You can always select the tenant you like with an interview. If instead you do not want to have a roommate and your rent sucks all your salary is clearly that you are living in a house above your possibilities; you are not under seizure, you can find another accommodation. 

 

Replace the Light Bulbs

 

No, I did not change the theme of the post, it’s that electricity costs! Using low energy light bulbs, the bills become lower. Avoid leaving electronic devices on standby and always turn off the light if you are not in a room. Also, charge your phone at night and put the washing machine on Sundays! Little tricks, big savings! Saving on bills is a great way to help you along your goal when you are looking for how to fund travel.

 

Do Not Throw, Sell

 

There are many websites on which you can sell what you do not need anymore. Why throw it instead of getting something for your trip? When we bought our first home I sold $2k worth of things on Facebook Marketplace! It was awesome!

 

Alcohol Intake

 

Alcohol costs. Whatever the brand is, from cocktail to beer. It’s not ideal for your savings. Your destination will only turn into a mirage when you are always drinking and am guessing you wouldn’t want that.

 

Get a Loan – The Hail Mary

 

If you really want to make this dream trip happen, you might have to get a small loan. There are many institutions where you can get in with both private and commercial banks. Getting a small loan will ensure you have enough budget for your trip and bills while you’re away and it’s a good alternative to overdraft.

 

A small loan like $5k could cost you $75 bucks a month depending on your credit and collateral. That’s a much easier bill to pay than saving $500 a month. You get your money on 24 hours and you know all your needs are covered.

 

In Closing

 

Traveling can be a lot of fun and quite literally can change you. Don’t deny yourself the experience of traveling due to lack of finances caused by your inability to save. With these few tips above, you’ll be ready to explore the world!


About Nia McKenna

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Nia is an Associate Editor at The Fairytale Traveler and self diagnosed travel junkie. Having traveled to 5 of the 7 continents, her love of good food and culture is a force to be reckoned with. When she isn't off adventuring with her husband, which she writes about on her blog CircaWanderlust, she can be found with a good cup of tea cuddling her pups and taking pictures of her food. She loves black and white movies and could listen to Elvis on repeat.

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