If you’re looking for easy ways to save cash for your next bucket-list destination, this is the place. Check out the quick list below.
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1. Don’t spend it
There, I said it, #1. The most important and easiest tip, don’t spend the money you don’t have. Now, just because you say you won’t spend money, doesn’t actually mean you will not spend it. Consistency is the most important part here. Can’t live without Game of Thrones on Netflix? Can’t resist stopping at Starbucks? How about those new pair of Nikes? Change your priorities.
2. Join a Gas Saver Rewards Program
Chances are, you’re driving to and from where you need to go. You’re mostly likely pumping gas at the gas station, just like everybody else. However, Go to www.fuelrewards.com/ and sign up for their program. It takes under five minutes. In doing so, you will save at least .05 cents per gallon of gas each time you fill up a Shell gas station. The more times you fill up, the more you save and your eligibility grows for future Shell rewards.
Example: Avg fill up equals $50. $50 x .05 = $2.50
In the example above you will notice a $2.50 savings every time you fill up. Your cost may differ depending on number of fill-ups, vehicle make, model, engine, driving conditions, etc.
3. Eat & Drink Out Less
Another tip that may seem obvious and goes hand-in-hand with tip #1. Avoid eating out for lunch every day as this can significantly reduce your weekly spend. The lower your weekly spend, the lower your monthly spend, the more money you save to travel.
Instead of eating out, try leftovers, meal-prepping at home, healthy pre-made lunches, lunch meat, soup and good ol’ fashioned PB&J. Try this for one month and your pocketbook will be a lot happier
4. Use Rakuten When Shopping Online
Rakuten is a cash back app and browser extension.
When you make a purchase, cash back is the money you receive back on the item you bought using Rakuten. Usually the amount is classified by a specific percentage. Have you ever seen a sign or advertisement say “Receive 3% Cash Back Today!”. That means, after your purchase is made, you will receive 3% cash back.
Pretty sweet, right?
After you’ve downloaded the Rakuten app or browser extension, Rakuten automatically tells you when you can get cash back when shopping online.
When you sign-up using my special friend introduction link below, you get $10 right off the bat.
Read More: How to Use the Rakuten Cash Back App
5. Use a High Interest Rate Savings Account
Find and use a high interest savings account insured by the FDIC to start earning interest on your money you already have. Banks like Chase and Capital One usually have good interest rates on savings account.
The benefit of having a savings account over a CD is that you can pull your money out at anytime. That way, if you need it, it is there. The interest rate of a savings account may not be as high as a CD, but you have the flexibility and access to your money at all times.
Always check the fine details and terms before opening a new account.
Chase Sapphire Preferred
In combination with a high interest savings account, a travel credit card is a great way to save money in the long run. Provided you pay your bills on time, a rewards card can get you to your next destination for free.
The first travel credit card I use is the Chase Sapphire Preferred. The Chase card is great for beginners and travel-hacking seasoned veterans. If you apply for the card at the right time, you can earn up to 60,000 bonus miles. However, the spending is higher than most cards at $4,000 in the first three months to be eligible. Chase requires a $99 per year fee to hold the power of the Sapphire Preferred card and its benefits. If $4,000 seems like too much, how about using the card to pay for utility or re-occurring monthly bills. Other ideas include car maintenance/repair, birthday gifts or my favorite, Christmas spending spree’s.
Capital One Venture Card
The second card I always have in my wallet is the Capital One Venture card. Believe it or not, this was my second travel rewards card (2016) I ever used and I’m still using it today! With Capital One + hotels.com, you can earn free hotel nights and 2x the miles for each hotel I book.
The way it works is, after you stay at a hotels.com property 10 times, you get a free night for the average value of your 10 nights.
If you can’t find a good use for your Capital One miles, feel free to transfer them to 10+ travel partners in the Capital One network. Talk about perks!
Maybe you already know how to save some cash. Drop them in the comments below to share!