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Funding your Future: How to afford travel

Posted at 2:52 PM, Jul 01, 2019

Thanks to social media, you may find yourself constantly bombarded with pictures of your friends and family on fabulous vacations. What if we told you that you could afford those same fantastic trips without breaking the bank? It is possible; it's just going to take a little patience and planning on your part. Check out some tips from David Sant of Cyprus Credit Union, for traveling on a budget.

Save Before Traveling
Traveling should never cause you to go into debt. If you have to use credit cards and loans to pay for a trip, you should probably sit this one out. Create an account that is specifically for traveling and put aside money each paycheck.

You can also make cutbacks elsewhere to save for trips. Instead of getting that $5 cup of coffee every day, put that money into your vacation savings account instead. Doing this 5 days a week for a year will save you $1,300.

If you want to start traveling more, it has to become a budget priority above other fun things such as going out to eat, the movies, shopping etc. Just remember what you`re aiming towards when you have to miss that night out with your friends.

Plan Ahead
You should have a specific goal in mind when it comes to traveling. Whether it's where you want to go, what you want to do, or what you want to see. The more specific a goal, the more you can plan and budget.

Take Advantage of Reward Points
If you`re using a credit card for everyday purchases anyway, choose one that has reward points that you can put towards travel. If you have a cashback card, put that extra money into your travel fund.

Use Travel Websites
Don`t just stick to the airline websites for your airfare; if you shop around for a little bit, you might find better deals. The same goes for booking hotels. You also might want to look for alternate accommodations such as an AirBnB or a VRBO.

Visit Affordable Destinations
Choose destinations that are within your price range if you're on a budget. You may not be able to go to the hotspot of the moment, but you can get the same experience elsewhere. Sometimes the greatest experiences are a little off the beaten path.

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