Traveling doesn’t have to be expensive— it’s easier than ever to plan an adventure.
However, learning how to save money for travel can feel overwhelming at first.
The time it takes to save depends on a few factors: the length of your trip, your travel style, and how disciplined you are in setting aside your hard-earned money.
If traveling is a top priority, saving becomes much more manageable—and even exciting!
At Navigator Nick, I’ve mastered the art of saving for travel. To help you stop dreaming and start planning! Today, I’m going to share my top money-saving tips and tricks to get you on the road sooner than you think.
Stop Dreaming. Start Planning!
Download the Complete Trip Planning Guide
1. Make a Plan
Before you can save effectively, you need a plan. Without one, it’s just a dream and you’re essentially wandering without direction. Ask yourself:
- Where do I want to go?
- How long do I want to travel?
- What type of travel experience am I aiming for (budget-friendly, luxury, etc.)?
Start by creating a shortlist of 3–5 dream destinations. Central or South America in March – May? Europe in September? Thailand in February?
Then, think about the best time of year to visit each place. With a little research, you can narrow your choices down to the destinations that fit your timeframe and budget. Planning ensures you have a clear goal to work toward.
2. Make a Budget
Once you’ve decided on your destination, it’s time to create a detailed budget. Include every potential expense, such as:
- Flights and visas
- Accommodation (hotels, hostels, or Airbnb)
- Daily meals and drinks
- Transportation (taxis, metro, rental cars)
- Tours and activities
By breaking down the costs, you’ll know exactly how much you need to save. Don’t forget to budget for surprises or emergencies—it’s always better to have a little extra. Compare costs across your shortlisted destinations to determine which fits your financial situation best.
3. Track Your Income and Expenses
Understanding your finances is crucial when saving for travel. Begin by tracking your monthly income and expenses. Include fixed costs (like rent or student loans) and variable expenses (like dining out or subscriptions). Apps like Mint or PocketGuard can make this process easier but Excel works too.
Once you’ve identified areas where you can cut back, allocate those savings directly to your travel fund. It might surprise you how much you can save by reducing small expenses. If you can save 10-15% per paycheck, your savings will skyrocket month after month.
4. Set a Deadline
Setting a deadline creates urgency and motivation. Decide on a realistic date to begin your trip based on your savings target. Once you have a date in mind, book your flight! Nothing will push you to save faster than having your travel plans locked in.
After your flight is booked, accommodations should be booked next.
5. Adjust Your Priorities
Saving money often requires some soul searching. OK, maybe that’s a little too drastic but ask yourself:
- Do I really need that daily latte?
- Could I cook more meals at home?
- Is that premium Netflix subscription worth it?
Every little adjustment adds up. For example, skipping a night out or packing lunches for work could save hundreds over time. While these sacrifices might feel tough now, they’ll be worth it when you’re sipping cocktails on a beach in Bali.
You will not save money for traveling if you’re not motivated. Traveling must be a priority and if that’s the case, saving money to travel will be easy!
6. Sell Unused Items
Take a hard look at your belongings—chances are, you own way more than you need.
Sell unused items on platforms like eBay, or Facebook Marketplace.
Clothes, gadgets, furniture—everything is fair game. Not only will you declutter, but you’ll also add funds to your travel savings.
7. Open a Dedicated Travel Card
Points & miles can add up fast before your next trip and I want you to make sure you’re maximize your rewards! But, don’t open another credit card if you cannot pay off the bill each month and on time. This will actually hurt your chances of saving money and put you in debt!
I use a small army of major credit cards to book my flights, accommodations and rental cars with rewards and miles.
These cards below offer me the most value, but your situation may be different. https://navigatornick.com/travel-credit-cards/
8. Open a Dedicated Savings Account
Keeping your travel savings separate from your regular accounts makes it easier to track progress. Name the account something inspiring, like “Dream Trip Fund,” and set up automatic transfers to ensure consistent contributions from each paycheck. Watching your savings grow is incredibly motivating!
I love the Capital One 360 Performance Savings account. They have some of the best interest rates in the market and my account goes hand in hand with my Capital One Travel credit cards.
9. Research & Price Tracking
Take advantage of technology to simplify your savings. Use Kayak to research compare and set alerts for price drops on flights, hotels, and rental cars.
Many banking apps, like Revolut, let you round up purchases to the nearest dollar and save the difference automatically. Over time, these small amounts can add up significantly.
10. Take Overtime & Work More
If possible, take on extra hours at work or start a side hustle. My side hustle is wedding videography. I love shooting video, so this was an easy decision for me! Make your side hustle something you love and “extra work” is not really work at all!
Whether it’s freelancing, tutoring, or driving for a rideshare service, the additional income can significantly speed up your savings. Just remember to deposit all extra earnings into your travel fund.
In conclusion
Keeping your goal in mind is crucial during the saving process. Stay motivated by reading travel blogs, watching documentaries, or following travelers on social media. Visualizing your dream trip will make every sacrifice feel worthwhile.
Saving for travel might require a few sacrifices, but the reward is a lifetime of memories. With a clear plan, a realistic budget, and consistent efforts, you’ll be packing your bags and embarking on your dream adventure before you know it.
Disclaimer: This post contains affiliate links. If you book or buy something through these links, I earn a small commission to keep this website going (at no extra cost to you) so its a win-win!
Book Your Trip Now!
Below are my favorite companies I use time and time again when I book my travel.
- Travel Coupons & Discounts – Get Cash Back at places like Hotels.com, Expedia, Travelocity, Priceline and many more with Rakuten. Sign up today & get $30!
- My Favorite Travel Credit Card – Chase Sapphire Prefered. This is by far the best way to book travel and earn miles/points while doing so. Use the Chase Sapphire Prefered for booking 3x travel, 3x dining and 3x on streaming services.
- My Second Favorite Travel Credit Card – In my opinion, the second best travel rewards credit card, the Capital One Venture. Use the Capital One Venture card for 2x the rewards on everyday purchases.
- Rental Cars – Search, compare and save on the best rental car company brands all in one place using DiscoverCars.
- Booking.com – Booking has the widest selection of budget accommodation in the world. In our studies, they constantly found the cheapest rooms. I also like their easy-to-use interface and no-money-down policy.
- Hotels.com – Hotels.com is my second choice for finding hotels. I love their selection and easy to navigate website. Use it often for free hotel stays with OneKeyCash.
- VRBO – The most popular vacation rental site in the US. ✓+2 million rentals worldwide ✓19+ million reviews ✓Secure online payment
- Selina Hostel – This is the best hostel accommodation in the world. Their unique CoLive stays, artwork and location are the best. Not to mention, they are a great value travel brand!
For companies, check out my favorite travel companies section that includes even more of my favorite travel companies that will help you value travel!
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