I’m starting Expedition Execution, my travel hacking series! I start with money because it tends to be the most obvious obstacle to travel. Before I start talking about ways to spend less money while traveling, like frequent flyer miles and booking accommodation, it’s important to start with the supply side – how much money you have to spend in the first place. How do you have money to spend in the first place?
While I’ll touch on ways to earn more money, the first step in having enough money to spend is saving enough. This is NOT to say that you should never go out to dinner. Rather, spend your money every day only on things that matter to you. This includes travel, but it also includes other expenses. If you want to buy presents for your friends and family for the holidays and treat your significant other to a fancy dinner, do it without breaking the bank.
Take my example. I used to spend a TON on money on stationery. I had boxes of organizers for all the erasers, notebooks, pens, and colored pencil lead (it’s a thing for mechanical pencils!) that I would buy every time I saw something cute. When I really thought about it, though, there was really no reason for me to keep buying them. I thought everything was so cute that I refused to use them – so why was I buying them?! It was just cluttering up my room, and I would much rather spend money on travel or audiobooks. Those, I would actually appreciate and use.
[Recommended Read: Don’t Pay Your Bank!]
There are a ton of ways to stop yourself from getting into debt. Since this isn’t a personal finance website, I will keep it simple:
Just think about what else you could spend the money on before you buy something
[Recommended Read: Automatically Save and Grow Money for Travel!]
It’s really that easy. If you believe going out with a huge group of friends is worth it, do it. If you really want that Starbucks, just buy it. But don’t forget that you can buy international airplane tickets for $25 with frequent flyer miles and stay in a hostel for $7/night.
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