How to save money to fund your dream journey

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Everybody loves travelling, but lack of finance forces many people to postpone their plans of setting out for their dream destinations. A large section of travellers find the money for journeys by avoiding unnecessary expenditure and saving for the trips.

Having enough funds goes a long way in ensuring a smooth and enjoyable journey. Here are some tips to ensure that you have a bank balance that would help plan a trip to your preferred destination.

Be aware of your financial status

Your monthly expenses should be based on your income. If you can spare some money after spending on the most essential items, it could be used to fund your trip. You would then be able to avoid incurring debt for the journey.

Open a savings account

The amount you save every month can be deposited in a bank account specifically opened for the purpose. Banks offer attractive interest rates on recurring deposits in which money can be credited every month till you set out on the trip. Approach the bank for details on this and other convenient deposit schemes. The amount that accumulates in such accounts would be sufficient to plan a journey.

Avoid extravagance

At the beginning of every month, decide on an amount to be spent on essential items and for other basic needs. Make every effort to limit such expenses to that amount. The remaining sum can be set apart for the trip. Ensure that you do not engage in extravagant spending. While making every purchase, ponder for a moment whether you need it at all.

Keep a check on shopping

Most people prefer shopping during weekends. Some among them have a tendency to buy every item that catches their fancy. But to save money for your dream journey, it is better to curb such temptations.

Avoid dining out

Hotel food will certainly burn a hole in your pockets. As far as possible, prepare all meals at home, which would go a long way in reducing expenses. The money saved in this way could also be added to the travel fund.

Plan your expenses

Keep a record of every rupee that is spent. Analyse the figures and cut any extravagant expense when you go shopping the next time.

Earn an extra income

Money for a journey can also be found by working overtime. You can engage in freelancing or carry out some business during free time to earn an additional income. All this will make your travel fund heavy.

Every trip offers some unforgettable experiences. By carrying out these suggestions, you can ensure that you don’t miss them owing to shortage of funds.

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