There are so many people that love to travel, but can’t afford to do so… there’s just so many aspects of “life” that gets in the way. You see your friends hopping on planes and traveling to all these different destinations, and you wonder how come you’re not able to do those same things. Well, there can be several factors that answer that question. Consider these budget-friendly finance tips that will have you living minimally so that you can get most from traveling!
Downsize to Apartment Living
If you live in an extravagant house but want to travel more, then it might be time to downsize your living situation. Yes, you might enjoy the marble/granite countertops, hardwood floors, and beautiful view your house gives you but you can still enjoy those luxuries in an apartment. If the amount of space is the main thing you love about your house, don’t fear because there are apartments that offer two bedrooms, and sometimes even four bedrooms, with plenty of square footage to accommodate your living situation.
There are so many benefits to living in an apartment. For one, apartment living can be considerably cheaper than paying a mortgage. Also, if something goes wrong in your apartment, you can easily put in a work order to have the maintenance team come and fix or replace whatever you need… living in a house, you’d have to pay for all of that out of pocket.
Move to a Safe Area With a Lower Cost of Living
When it comes to finding a reasonably priced place to live, it sometimes can be too good to be true. You might be looking at homes or apartments and see a price that is well below your price range, and think wow! Then, when you actually go to visit this place, the neighborhood is very sketchy. That’s why you have to take your time and do your research on locations to move to.
One great location to consider moving to is Omaha, Nebraska. According to Business Insider, families migrate to Omaha due to it being a safe and affordable place to live, while professionals opt to move there because of its strong economy due to the booming cattle ranching businesses and being home to several Fortune 500 companies.
Cancel Unutilized Memberships
It’s nice to have certain club memberships, but when you’re not using them, then it’s as though you’re throwing money away every month. Gym memberships are notorious for not being utilized. Lots of times people will sign up for these gym memberships around New Years with a healthy lifestyle in mind, then slack off on exercising to the point that they don’t go at all.
What people fail to realize is that even though they may not be going to the gym, their monthly membership fee will still come out of their bank account. Gym memberships are like a revolving monthly bill. Your safest bet would be to cancel your membership, and take the money that would normally be used for your monthly gym fee, and put it towards a travel fund. That’s a great way to kick your traveling into gear! If you still want to exercise, walk around your neighborhood or in the park.
Get Rid of Cable
Cable can be very expensive. If you’re like most people, you only have a few channels that you enjoy watching, while the other channels are not utilized, but yet you’re still paying for them. Consider getting rid of cable, and looking into streaming your TV… it is drastically cheaper than cable, leaving more money for island hopping!
Drink More Water
This may sound pretty simple, but it’s very effective. Invest in a water purifying pitcher, so that you can use your tap water, instead of buying bottled water. Some packs of water can be very expensive. Tap water can be quite gross, but with something like a Brita Water Pitcher, just imagine how much money you can save by converting tap water to purified water.
Cook More Instead of Eating Out
This section can be a bad habit to break, but it is definitely cheaper. A lot of times, you can cook a two to three meals for the amount of what it would cost to order a bucket of chicken at KFC. You may not want to give up that luxury, but think of it like this, don’t eat out while at home… eat out when you’re in a different state or country on your travels!
Consider Carpooling With Coworkers
It’s always cost-effective if you can carpool with coworkers. It saves everyone gas money and everyone gets to contribute with the responsibilities of driving. So get friendly with your coworkers… your bank account will love you for it! Plus, the money you’ll be saving on gas can also be put towards your traveling funds! You can even consider working during your travels to make more money!
Sell Unused Items
If you have items that you haven’t used or know that you won’t use, then it’s safe to get rid of it, and if you’re going to get rid of it, you might as well sell it! If you’re one who has a hard time getting rid of your “stuff” then you can apply the minimalist 90/90 rule. When it comes to getting rid of your items, think of it like this. If you haven’t used that item in 90 days, nor do you plan on using it in the next 90 days, then it safe to get rid of it. You can sell your items through many platforms via online or through yard sales and garage sales.