Finances play a particularly important role when planning a trip. Regardless of whether you are simply planning a week-long beach vacation, an adventure vacation off the beaten path or even a trip around the world, travel finances are the focus of many vacationers. Because the same applies when traveling: Nothing happens without moss! We'll show you how you can save for your next vacation and give you valuable travel tips for financing your trip.
Traveling doesn't necessarily have to be expensive. Anyone planning their next vacation usually has a very specific budget for their trip. What is a cheap vacation for some is a luxury vacation for others. In general, many people in Germany consider a vacation to be a superfluous luxury. Behind this lies an outdated way of thinking. Namely, that you have to earn a vacation through hard work. And even then the neighbor stands at the garden fence and says to his wife: “They’re going on vacation again! How can they afford that?”
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Save money for your trip – vacation is not a luxury item
This way of thinking is outdated. A vacation doesn't have to be expensive or a luxury item. A trip is something that contributes significantly to the quality of life and you should therefore plan enough time for your tours. If there's one thing that's true luxury about traveling, it's time. Because these days you have to have it first. A six-month sabbatical or a year-long trip around the world is difficult to reconcile with a normal office job. But that shouldn't stop you from planning your next big tour and saving up for a trip.
Because vacation is not a superfluous luxury, but extremely beneficial to your health. It is the perfect opportunity to recharge empty batteries and forget about everyday stress. A long-distance trip or even a trip around the world is a life-changing experience that usually provides so many new impressions that money cannot buy. Nevertheless, the financing and the dear money should of course not be neglected. If you have your travel finances well under control, you often don't have to pay a lot for your next trip and are always liquid at your destination.
Savings tips for vacation – put some money away every month
The best way to spend money on your next trip is saving. There is not a better tip. If you put a few euros aside every day, you will soon have a lot of money for the holiday fund together. Rule number two is to pay as little as possible for the trip. Who observes these two rules, has already gained a lot in the travel financing. We have some more valuable saving tips for the holidays and can help you to accumulate money for your next trip. If you are smart enough, at least a small part of your holiday will pay for itself.
1. The golden saving tip: Every month put some money on the page
The first savings tip for vacation goes without saying. If you put a little money aside every day, every week and every month, after a few months you will have enough to finance your next trip. Basically, all you need to do is take a small amount every month and put it in your piggy bank. After a few months it may not be enough for a trip around the world, but many travel destinations for cheap holidays such as Mallorca, Turkey or Egypt and many other destinations offer a week including flights, hotels and half board for less than 300 euros in the low season. Even if you have a very small vacation budget and only set aside 50 euros per month for your vacation, you can travel twice a year without any problems.
The savings amount is of course up to the top and the more you save, the longer and more luxurious you can travel. To throw in your job for a world trip and go on a big tour, you should at least have saved between 20.000 and 50.000 Euro - that only as an info for those who have great ambitions.
2. Invest during savings in overnight money and fixed income
If you now take the money you put aside every month and invest it in a current account or in a fixed-interest investment for a certain period of time, the vacation will at least pay for itself to some extent. If you know that you have to pay for your trip in nine months, you can Money for vacation For example, invest for six months firmly and collect the interest at the end. Unfortunately, interest rates have been extremely low recently, but hopefully that should change gradually. In addition, also known as small cattle mist and you should take with you every euro that you can get.
3. Find hidden costs
Do you think you can't save 50 euros a month for a vacation? None! Once you take a closer look at your monthly costs for all possible purchases, you will most likely find a whole lot of expenses that are completely nonsensical. If you take a close look at your own monthly costs, you will quickly notice that you can easily save 50 euros or even more per month. Mobile phone contracts can often be renegotiated more cheaply by extending the contract, the deduction for electricity and water can be reduced and you can also simply do without the branded products when shopping in the supermarket. After just a few days you'll have 50 euros!
4. Booking and additional services: Save on the cost of the holiday
The vacation will be most expensive if you fly away with the children during the school holidays in midsummer. Then in many places everything costs a hefty surcharge: flights, hotels and local living costs rise sharply. If you want to save money on your vacation, you should travel in the off-season if possible and choose a travel destination that is not particularly popular. If you travel in the off-season, you can often save several hundred euros and practically have a cheaper vacation all by yourself. Every euro you save when booking doesn't have to be spent elsewhere.
5. Save money with modern online accounts and Robo Advisors
For young and technology-savvy users, a worthwhile alternative to overnight money and fixed-interest bonds is the option of using a robo advisor and investing your money in certain financial products for a specific term. There are now many online-based FinTechs (so-called financial technology companies) where you can open an account at very favorable conditions and, with a little skill, invest money very profitably in the short and medium term. You usually have relatively flexible access to your finances and can easily invest the money there for a vacation.
Saving doesn't stop when you're on vacation - keep your finances under control while you're on the move
Those who observe the five savings tips for the next trip, should have significantly less trouble getting the money for the next vacation together. Those who start their next trip should definitely have their finances under control. For this one should already ask the most important questions at home.
- Can I withdraw money with my debit card abroad? And what are the fees? Is there perhaps a bank in the travel destination that cooperates with my bank from Germany?
- How much cash should I take with me to the holiday destination? Where can I best change money if the destination country has a different currency? What is a reasonable exchange rate?
- Does it make sense to have a credit card for the journey?
- And what do I do if I am stolen money and identity papers on vacation?
Experienced travelers know the right answers to all of these questions and are always informed about their finances on vacation. Travel finances are the most important topic in order to be able to really switch off on vacation or while traveling. If you have money problems on a trip, you have to worry about such trivial matters instead of concentrating on the great vacation and simply being able to switch off. It's not good to travel with money worries and you should definitely think about how you can clarify money issues in good time before you travel so that you don't have to worry. This is the only way to keep your thoughts where they belong on vacation - namely, fully focused on the matter.
Financing a world trip – decent costs for a year of world tour
While a week-long vacation can be financed with a lot of hassle, a trip around the world is something completely different. A tour like this, which can last between six months and two years, requires some planning. Financing a trip around the world is not that easy. The cost of a trip around the world is estimated to be between 10.000 and 15.000 euros per year.
Anyone who has a high standard of living can easily spend 20.000 euros or more on their trip around the world. This makes it all the more important to finance the trip around the world and ensure a solid flow of money. This can be done in different ways. Either you 1. have rich parents, 2. save money from your mouth or 3. finance the trip with a travel loan. Do you think the tip about the rich parents is stupid? How else is someone supposed to finance their trip around the world after graduating from high school without a steady income?
All three options are through realistic and suitable to finance a world tour. In the end, it does not matter where the financial resources for the world tour come from, as long as this unique and life-changing adventure can be implemented.
Travel loan – Is a vacation in installments a sensible way to finance your trip?
Should you book a vacation in installments? A travel loan can be a sensible alternative to finance your vacation. On the one hand, the loan is useful if the trip is a special, unique and extraordinary experience that you can most likely only experience in this form once in your life. In addition, the timing may make a travel loan necessary. Namely when the boss approves the sabbatical and says “It’s now or never!”
On the other hand, an instant loan can be used to finance the high costs of a trip around the world and break them down into more manageable parts. When it comes to a travel loan, it is important that you have a fixed income and keep it for the duration. Anyone who takes out a travel loan and then quits their job to travel around the world puts themselves in a difficult position. Because you can only get a vacation loan reasonably cheaply if you have a permanent job. Conditions are often significantly worse for the self-employed.
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The motto is – save better, travel more
My detailed conclusion
When it comes to travel finances, the motto is “save better, travel more!” If you want to know how to travel as much as possible, you should specialize in financing. Because after the trip is before the trip and so you will always need money to plan your next tour. Saving money for your trip is easy and even fun because there is a real sense of achievement at the end. Anyone who says they don't have the money for a vacation simply has other priorities. Saving money quickly for your vacation is of course also possible, but it requires more discipline from you.
Saving money is not difficult. The bigger problem is not to spend everything pointlessly. Many studies have now shown that travel experiences are more valuable in retrospect than items that you purchase. That's why saving for your next vacation and financing your trip around the world is more promising than buying your 24th smartphone. If you want to invest your money well, invest it in your next trip. You are guaranteed to be rewarded with unique experiences and new acquaintances with great people that can no longer be taken away from you. If you don't take a trip, you will probably regret it at the end of your life. On the other hand, if you save cleverly for the next tour, you can usually travel several times a year. This is the royal road. Because every vacation increases the quality of life immensely.
How do you finance your trips? Share your experience in the comments.
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