21 Easy and Realistic Ways to Build a Monster Travel Fund

I have heard many excuses from friends who won’t travel, the main theme beginning with, “it’s too expensive.” What do I tell them? Start your travel fund now, and I mean TODAY. Here are 21 easy and realistic ways to build a monster travel fund and have the vacation you’ve always dreamed of.

Affiliate Disclosure: There are affiliate links throughout this post. This means if you click on a link and purchase a product through that link, then I will receive a small commission for the referral. And that is kinda cool.

You don’t have to make a ton of sacrifices and completely change your lifestyle in order to stock up your travel fund; you need a few simple and realistic measures to incorporate into your life to start saving now.

With the help of my blogging friends (love you all, BTW), I have compiled a list of 21 easy and realistic ways to incorporate saving for your travel fund into your daily lives.

And guess what? It’s not all about dropping your daily caffeine fix at Starbucks. Although I have saved a lot by cutting back, and yes, it’s on the list. But, I have a replacement that’s even more fun and tastes way better.

And, you guessed it, here is your checklist of ways to build a monster travel fund.

So, decide where you want to go. Research the cost of traveling to your chosen destination. Break it down into how much time you have before travel. And let’s get to work saving for your travel fund.

How to save money to build your monster travel fund.

#1 ~ Let me get this one out of the way – cut the money you spend on your caffeine fix in half. Do this instead.

Since I mentioned the Starbucks thing, I will start there.

Instead of making your first stop after you leave home in the morning a Starbucks run, do this instead.  

Make your own.  

I am a super fan of the cafetera, which is a stovetop espresso maker. Fill the reservoir with water, pack a few teaspoons of Yaucono or your favorite espresso, and heat it. It takes about five minutes, and your reward is three shots of rich, velvety espresso.  

# 2 ~ Eat homemade food and avoid eating out.

Rachita from MeanderWander saves money by cooking homemade food and not eating out. Here is how she incorporates this into her life so she can build her travel fund.

As someone who loves to travel a lot, saving money for trips can be a little difficult, so I have started following this habit for a few years now. I avoid eating outside if it is not a necessity and stick to homemade food only. While I am a foodie, I believe in trying different cuisines that each country has to offer, so I skip out on the dinners and takeouts as much as I can.

Generally, in a month, I won’t order in or eat more than 2 or 3 times out, which makes all the difference. This way, I end up saving a lot of money since groceries for a month is cheaper than eating outside. 

When I prepare food at home, I spend around 100 USD a month. But when I order out regularly, I end up paying 200 – 300 USD, even more sometimes. So, by not eating out and preparing my food at home, I easily save around 200 USD per month.

# 3 ~ Make sure you and your S.O. have the same saving goals.

I like to shop and stop at Starbucks every day. There I said it. But, if we are building a travel fund, I cut back significantly.

My husband is the saver; he doesn’t have to change much. He just has to remind me to behave.

# 4 ~ Plan ahead.

Tricia is a graphic designer at triciapjones.com, she had this smart suggestion. Start by looking at options where you are traveling and know exactly what it will cost. Divide up your trip’s cost – so maybe 6 -12 months away. For example, if it is $1200 – you need an extra $200 – $400 per month. 

 # 5 ~ Set priorities.

Chris from Punta Cana Travel Blog proposes that there are endless ways to build a travel fund. The most important action for saving is to set priorities, particularly in your daily life. 

Chris says that if you love to go to restaurants and bars often, if you regularly hunt for the newest fashion deals, and if you always need the latest iPhone, it’s very difficult to save up for traveling, especially if you want to hit the road long-term.

Therefore, check your needs and ask yourself what is important for you in life. The newest tech-stuff from Google & Co.? Fine, but then you might have to cut your trip down from three months to one month. 

# 6 ~ Start a spreadsheet to track your current expenses.

Chris also feels it is of utmost importance to know where your money is going to see where you can save. If you don’t know where all your money is going to, start an Excel sheet or a similar app and note down all your daily expenses, split into categories such as supermarket, commuting, shopping, dining out, presents, healthcare, etc. With this overview, it will be easier for you to see where you have your biggest potentials to spend less money.

Once you are saving up money for your trip, don’t leave it just in your bank account. Depending on when you need the money, get at least a few percent of interest on it – even if it’s not a lot. Possible options are the stock market, dividends, P2P investments, cryptocurrencies, saving plans from your bank, etc. Before deciding on anything regarding investments, seek advice from an expert on the topic.

And finally, once you have saved up enough to start traveling, try to pick some cheaper countries first. Even if you have always dreamt of visiting Australia, Scandinavia, Singapore or Switzerland, consider going to Thailand, Indonesia, Columbia, Bolivia, etc. With a set budget, you can travel those countries triple the time than the expensive examples mentioned first.

# 7 ~ Add vacation savings to your monthly budget.

Starr from A CENTSational Life has a blog dedicated to discovering financial freedom, making money, saving money, traveling, and living your best life. Here is her take on how to build a travel fund.

When I’m saving for a vacation, I add my vacation savings to my monthly budget. So a certain amount is allotted to the vacation budget with every paycheck.

I post a picture of our destination spot on our refrigerator to remind us what we are saving for! When we are constantly reminded, we are less likely to spend money unnecessarily.

Then I get my whole family involved, and we do multiple things to bring in extra money for the vacation. For instance, we always have a virtual yard sale on Facebook Marketplace with all the proceeds going to our vacation budget. It declutters our home while helping us save!

# 8 ~ Open up dedicated savings account for your travel fund, and name it; I call mine “The Monster Travel Fund Account.”

Once you dedicate an account to your “monster travel fund,” you will be obligated to begin building. It’s like when you buy workout clothes, you’re obligated to workout, right?

Read this thorough and updated review from Money.com on the best high yield savings accounts for 2021.

“A high-yield savings account offers interest rates up to 25x times higher than a traditional savings account, making it an excellent place to keep your short-term savings for that new computer or long-term goals, including a down payment fund or a vacation account.”

Money.com

# 9 ~ Set up automatic bank transfers.

Chelsea from BRB Busy Living Life states that one of the hardest parts of saving money for travel is actually having the discipline to put the money aside each time that you get paid.

So, you see, when she was saving to move abroad in 2017, she implemented automatic bank transfers as soon as she got paid. Her pay would go into her account late Wednesday evening; before she had even woken up on Thursday, her allocated saving amount was automatically transferred from her “spending” to her “savings.”

By implementing this method, she managed to save $10,000 in just over six months to move to Canada from Australia. Aside from the automatic transfers, if she had any money left at the end of the pay cycle, she would also transfer this to her savings.

If you want to be extra disciplined with this tip, you can also ask your bank to put a “no transfers” bar on your savings account so that you are unable to transfer the money back across online. Happy saving! 

#10 ~ Use an app to help you save your cash.

Carrie from Under Traveled suggested the Digit App.  

She explains the app like this:

Digit is a money-saving app that links to your checking account and does the saving for you. The app analyzes your monthly income and expenses and then saves what it determines you can afford to save. 

The Digit app automatically has a “Rainy Day” category, but you can add as many Saving Goals as you want and set a date to complete the goal. The app will then tell you how much it will need to save per day to meet the goal.

It’s pretty amazing. I use the app to save for travel specifically, so I have a “travel fund” saved somewhere other than my regular account! Some days it’s a dollar or two, others it’s upwards of $50.

“Save money without even thinking about it. ”

Digit App

# 11 ~ Have a “No-Spend Day” once a week. Include the entire family.

Holly from The Work at Home Momma has multiple ideas to save money and make money for moms. Her mission is to help moms make ends meet while staying at home with kids. My favorite idea from Holly is to have a “No Spend Day” once a week. And this is how you do it.  

“The concept is super simple. You pick one day a week that you will spend NO money. This means no Starbucks, no takeout, no pack of gum, nothing… nada… zilch! Get the point? It’s amazing how much we spend on little things each day without a second thought. And those little things over the course of a year, really add up.”

# 12 ~ Bargain shop.

I love this idea from Trina at Redneck Rhapsody.  Trina texted me last night with her brilliant idea to add to my list. She says that the big money-saving tip that helps her cut costs to have extra change for her travel fund is to bargain shop—BIG TIME. Trina shops Goodwill and buys brand new clothes and home goods super cheap, and she shared with me a proud bargain shopper moment.  

“One of my best purchases at Goodwill was a Kay Unger jacket that retailed just under $400 for $12, tags still attached. Another amazing purchase was three pairs of jeans. Two from Ann Taylor, one Tommy Hilfiger, all three were like brand new, one with tags; I paid $2.99 a pair. On days like this, I go home and add $40-60 to my envelope or sometimes a crisp hundred or two.”

Oh, and two more tips from Trina.

• Be a sale rack slave.
• Dumpster dive in other people’s closets.

# 13 ~ Get a library membership.

How much do you spend on books? I am embarrassed to admit my book obsession. I love holding a novel and reading. But, cutting back on the money spent on books, and sending the money saved to your travel fund, will get you on the road quicker.  

Contributed by Sarah of In Search of Sarah.

One of the easiest tips for saving money for travel is to get a library membership. With the average book costing between $15-$30, if you’re a heavy reader, this adds up FAST. Add hundreds (or thousands!) to your travel fund by opting to get a membership at your local library.

I read 60 books last year. At $25 a read, that would’ve been $1500 alone in books. How many flights or hotel stays could you get for that amount?

I tell everyone all the time to get a membership – it’s FREE and will also allow you to read as much as you want – maybe even sign out a couple of those travel books you’ve been eyeing!

# 14 ~ Cancel Amazon Prime.

When Corritta from It’s a Family Thing suggested dropping Amazon Prime, my first thought was, “whoa, that’s harsh.”  

But, she said this to me, “place it as a priority.” And she explains more here.

Saving money to travel is all about determination, focus, imagination, and discipline. One of the ways we saved for our family gap year is by canceling Amazon Prime. You’d be surprised how much you spend on impulse purchases that you want, not need. 

Amazon’s business model is based on impulse purchases because they make it so convenient to buy unnecessary items. If you want to save money to travel, getting rid of Amazon Prime will save you at least $300. 

You will scrutinize your purchases more closely if you have to pay for shipping with each purchase. Imagine how much you’d save if you canceled Amazon for at least one year.

Think about it. What could you do with $300 while traveling? 

Thank you, Corritta, thought-provoking, for sure. I will go one step further and suggest deleting the Amazon app from your smartphone. Give yourself a little more time to think about that purchase. Do you really need that Turkish towel?

# 15 ~ Freeze any memberships you can, such as your gym membership (that you can’t use because of COVID).

Tricia also suggested to freeze any memberships that you can – such as gyms and cable – maybe pick a smaller plan.  

Or, if you are an individual, can you decrease your mobile plan? Or research for a cheaper alternative. 

And might I add, drop those monthly magazine subscriptions. It’s all online.

How to make a little extra cash to add to your monster travel fund.

# 16 ~ Start up a side hustle and bank all of the proceeds.

Google side hustle ideas, there are hundreds, maybe thousands. Here are a few fantastic ideas that only require a laptop.

• Start a travel blog.
• Complete surveys for cash.
• Teach English online.
• Become a virtual assistant.
• Create tutorial YouTube videos.
• Freelance writing.
• Create an online course.
• Become an editor.

# 17 ~ Declutter and sell your stuff.

My house is in dire need of a visit from Maria Kondo. I could build up that monster travel fund in no time if I only could part with my stuff.

Emma from MY RIG Adventures is talking my language. She saves up a ton of money for travel by doing just this…decluttering and selling her stuff.

Here is how she does it.

One of the ways that really helped us save up for travel was to gather up everything that was laying around collecting dust. I’m not talking about your couch or cutlery… but all of those things that you don’t use, need or love anymore. Those items would be much better converted into cold, hard cash for your travels!

Go through the house, room-by-room (don’t forget the shed), and grab anything that you could potentially make a bit of money on. Take some pics and put up some ads on all of the free classifieds you have access to. Facebook Marketplace, Gumtree, and eBay are all really great places to sell second-hand items. 

The most important part is to make sure you put all of the money you make straight into your travel savings fund so that it doesn’t disappear on other things.

# 18 ~ Rent out your house!

Maartje and Sebastiaan and their Orange Backpack have a unique way to make some extra cash while traveling…they rent out their apartment while they are away. In this post, they explain how you, too, can do this and make some extra cash, what the best platforms are for renters, plus a few tips for when you are hosting.

Here’s more from Maartje and Sebastiaan.

If you’re looking for a quick way to save money to travel, consider raising your income instead of saving on your expenses. How? Rent out your house!

One thing we have been doing since we started traveling a lot is renting out our home. Whenever we travel, we try to find someone to rent our house during our trip via Airbnb or Booking.com.

This way we get a lot of extra travel money at no additional costs for us! But why limit this to your trips? You could rent out the guest bedroom. Or convert your annex or garage into a studio and rent it out. It’s a fantastic way to raise your income and start saving for your trip. And you might even meet some new friends staying at your place in the meantime.

# 19 ~ Drop all spare coins into an old-fashioned piggy bank.

Remember what mom taught you? Drop the spare change into the piggy bank, when it’s full, crack it, and count your loot, and add to building your travel fund. I am not sure I ever cracked a piggy bank, have you? I have emptied the change, rolled the coins, and cashed it in, though.

# 20 ~ Make money shopping.

If you must shop (I must shop), join Rakuten/Ebates, and get paid to shop. Rakuten/Ebates is a smartphone app that allows you to buy online and get cash in return. I have had three big fat checks this year, and they all went directly into my travel fund. You can join here, and I get a referral kickback.

Or Ibotta, this one is for grocery shopping. Ibotta gives you cash back at your favorite grocery store or delivery. $49 so far for this year. Here is my referral link (if you invite a friend, you earn more cash).

Ninja tip to maintain your momentum and reach your goals of building a monster travel fund.

# 21 ~ Hands off the funds.

DO NOT withdraw money from your travel fund, unless it is an absolute emergency. Forget about it, ignore it, don’t put it on your smartphone as an app to obsess over at the red light or car pick up at school. You get the picture.

Picture this…

The sound of the rolling waves, the salty air’s sultry scent, a deep tissue massage with lavender aromatherapy, and pure relaxation. All because you put in the work and saved enough money to afford a little extra on your vacation.

It is possible, but you have to dedicate yourself to the cause and start now.

What would you add?

And let me know how it goes.