“Travel now, pulubi later.” Familiar? Yup. We’ve all been there.
But who wants to be broke AF after traveling anyway? I’ve read posts on social media about going broke after traveling way too many times already. Countless of memes about it have been shared by many people but somehow, instead of making me laugh like most stuff on the internet do, it makes me sad that some people are still willing to compromise their finances just for the sake of traveling.
I know, I know. Different strokes for different folks, right? Kanya-kanyang trip. But really, would you rather go home from your vacation with an empty bank account or worse, a debt to pay? Or would you want to go home really happy, relaxed, without any travel-induced financial problems to think about? I’d choose the latter. When the wanderlust bug bit me for the first time, I didn’t know how to balance things out. I was easily tempted to put myself in debt just so I could have instant money for traveling, and I didn’t even have any savings back then. I never want to go down that road again.
In this blog post, I’ll TRY to give you some tips that’ll help you keep your finances intact even when you like to travel. These are the four rules that I live by.
List down your dream destinations. Where do you want to go first? What activities in this place would you like to do? Do you think you can afford it? Do you have the means to pay for this dream vacation? For me, it’s important to have a list. It’s the same with listing down your goals. It motivates you and gives you something to look forward to.
When you plan ahead, you’ll also be able to estimate how much money you’ll be spending on the trip. This way, you can avoid being broke when you go home and getting buried in debt because you really wanted to take that trip right away.
I don’t believe in spending an entire paycheck on a trip. I believe in saving bit by bit for a trip by setting aside a certain amount every payday. For example, for our trip to Camiguin in 2015, the boyfriend and I set aside P500 each every payday for 6 months. And for our Siargao trip in 2016, we saved up P700-P1000 each every payday since for 6 months as well. A small portion of your salary could really go a long way.
Having a sinking fund has made it easier for us because we don’t have to worry much about money during the trip, and days before that. We always set a budget for this and that, with the help of blog posts and reviews online, and bring extra cash for unexpected expenses.
Never borrow money so you could travel.
Unless you’re traveling for work or going on a very important trip, just don’t. Whether it’s borrowing money from your friends/family, or getting a loan, JUST DON’T. It’s a very irresponsible thing to do, honestly. It’s way better to save up little by little for an upcoming trip than to still be paying for the vacation that happened about two months ago. Save your loans for emergencies instead.
Set aside money for spontaneous trips.
Not a fan of planning your trips months ahead? If you don’t have a specific destination yet, set aside a certain amount every payday, so that you’ll instantly have money to spend when you feel like going on a spontaneous trip. This way, you won’t have to starve yourself or borrow money from others just so you could hop on a plane/boat to this place that everyone’s been raving about.
Most of us love traveling because there’s nothing more exciting than being in an unfamiliar place and learning new things about the wonderful world that we live in. It’s becoming an addiction for many people, but we should always remember that we shouldn’t allow it to make us forget about our responsibilities, may it be to ourselves or to our families. 😉
Did this post help you somehow? Let me know if you have tips of your own!
Just a girl in her late twenties trying to find her way through life. She loves to write, eat, take photos, and freedive. She used to travel a lot and hopes she could do that again when this global pandemic is over.