Money is the most important part of preparations before moving abroad or travelling extensively. We need to calculate carefully, work out the best ways of saving our hard earned cash and hope that after a bit it will be enough.
I am not an expert in saving money. Every month I put aside a small amount, but I don’t think I will ever learn not to spend large amounts on nice food, a good cup of coffee, or a Saturday night out. I felt that writing a post about money is crucial, but I honestly didn’t feel like an authority in this field. Therefore, I decided to refer you for some more money saving advice to other bloggers, who seemed better with dealing with money issues than me.
Kate saved $13,000 in seven months!! That girl is dedicated, you need to admit.
Probably the best money saving advice she has for her readers is: save every month, on a regular basis. As soon as your pay arrives to your bank account, set a small amount aside. You can also set up a direct debit. It doesn’t matter if it’s $2 or $200 – it all adds up.
I must say that it’s one of the things I have been doing for a long time now and it is a great way of always having some savings.
Jules and Christine say:
Downsize your closet by creating a capsule wardrobe and then sell the extras (…). Downsize your monster TV and stereo set for something a little more reasonable. Cutting back to a minimalist lifestyle will not only save you the big bucks for traveling, but it’ll give you more room to breathe and lead a happier life in general.
Since you want to move abroad, or travel extensively, you will not need so many things. You will be surprised how little you actually need. Selling your possessions is a great way of earning some extra cash.
Some people find coins flying around their wallet a little annoying. A great money saving advice from Nick and Dariece of Goats on the Road is to set up a coin jar for your change. After a couple of months you can count them and take them to a bank to exchange for bills or put them in your savings account.
Hayley has a great money saving advice for those, who think of cutting back expenses on food – downgrade your food quality or make things yourself instead of buying pre-prepared. She saved $10 a week by swapping carton soups, she used to have for lunch, for tinned ones. She also has a great way of saving money on herbs.
Shane says that it is better to host a dinner at your place than to go out all the time. He also cut on theatre tickets and goes to see a play 4-5 times a year.
That’s my biggest weakness. I just can’t say no when someone invites me out, but I guess it eats out most of my money. Time for sobriety, I think.
Nomadic Matt is a guru when it comes to affordable travelling, but on his blog he wrote a couple of posts that could be useful for those, who are moving abroad, too.
In his article ‘How to pick a travel credit card’ he touches on an important issue when it comes to using your card abroad – foreign transaction fees. Remember that there are cards out there that either don’t charge any fees when you use them abroad, or offer reward programmes. Shop around and choose the best option that will suit your needs.
It is easy to get tired with restricting yourself and stop saving. Molly says that the best way to keep yourself motivated is looking at pictures of places you want to visit. She says she uses Pinterest on a daily basis and imagines herself in new destinations. That way she remembers why she saves.
Reading all this advice made me realise how easy it can be to change habits and start saving. I think it is time to revaluate my spendings and make some changes. Will you do the same?