How to Save Money and Travel Fulltime

Uros Polajzer

If you’ve been thinking about making a major lifestyle change and want to quit your job, explore the world and travel fulltime, your friends might think you’re dreaming. But the truth is, it’s totally possible! You can save money, work remotely, and travel full-time and there are hundreds of thousands of people doing it right now. So why can’t you?

When we first started and decided we wanted to travel fulltime, we received a lot of doubt and sometimes even criticism from others. For many people, traveling fulltime just seems like a far-off pipe dream that is completely unattainable. However, if you plan effectively, work hard, and make a few sacrifices in the beginning – you can make it happen!

We know many of you are interested in the travel lifestyle, so we’ve compiled our top 6 ways to save money and travel fulltime. Let’s get started!

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1.Plan Your Budget

If you are thinking about travelling for a year, it’s important to consider how much money you need to save to make that happen. Having a defined budget and a set financial goal will make it easier for you to save. It’s really hard to have a goal with no clear idea on what that specific goal actually is. Think about where you want to go, how much you need for food, accommodations, transportation or flights and be sure to incorporate any expenses that you must continue to pay while traveling (debt, cart loans, etc).

You can plan all of this out over several weeks – you don’t need to figure it all out in a day! Of course, travel plans should be flexible for now, as you want to take advantage of hotel and flight deals as much as possible and you neverknow what can happen!

When you have a better idea of what you need to save for your year of travelling, start creating a monthly budget for yourself. What are your daily expenses? How much can you afford to put into a savings account every month? A budget will help you stick to the plan, and you will be grateful for it down the road. As the saying goes... failure to plan, is a plan to fail!

2. Track Your Spending

With your budget set, it is important to track your spending every month, so you stay on track. Most people spend a lotmore money than they think they do, so tracking it closely will help you save more money.

I know it can be frustrating tracking every penny that comes out of your account (it’s like counting calories… not fun!). But technology has come to the rescue and made it so much easier. There are now budgeting apps that make it much less time-consuming. Budgeting software helps you take a close look at your spending habits and can even link your bank accounts to the app itself – this saves you so much time! They can even summarize your weekly or monthly spending into a pie-chart, which is perfect for visual people. You can see how much of your money is going to frivolous expense that you may be able to cut down.

Some of the most popular budgeting apps you can check out are: Mint, You Need a Budget (YNAB) and Zeta (for couples).

3. Be a Minimalist

If you are going to travel for a year, you may have to make some sacrifices along the way while you save up enough money to do it. If it’s something you really want to do, it will all be worth it in the end! Being a minimalist will mean keeping your purchases to what you really need. You’ll reduce your spending, and also reduce the amount of stuff you need to sell or store once you are ready to hit the road!

If you are looking at making a purchase, think about it this way: is this something you really need? Will you still want it 6 months or a year from now while travelling the world? Will it bring you closer to your goal, or farther away? These are important questions to ask, as it can tell you if this is more of an impulse-buy that you could live without.

We can often do with a lot less than we think, and you will be grateful for it later.

4. Cook Meals at Home

Eating out is a lot of fun, but the cost adds up quickly! When eating out, you can expect to spend anywhere between $25-$100 for a night out – that money can go a long way while traveling! Learning to cook will save you money, help you make healthier choices, and it can be a lot of fun too!

5. Sell your Crap!

These days, most people accumulate a lot of stuff in their homes. From clothes, décor, and other random gadgets, there’s probably things in your home today that you don’t really use. Most likely, whatever you don’t sell now, you will have to pay to keep in storage, so go on and sell all the stuff you don’t use. Get rid of as much as you can and make some money to fund your dreams. You probably won’t even notice it’s gone, especially when you’re traveling the world!

6. Earn as You Travel

Working remotely is becoming increasingly popular, and there are options out there for nearly every industry. You can create your own business, or work for a company, so long as they are okay with you working in different places around the world. With a good wi-fi connection, you can work while you travel and earn money to pay for your adventures. This will make it a lot easier for you to start traveling fulltime, as you won’t need to save quite as much money since you will continue to generate an income while you travel.

Traveling fulltime can be such an amazing journey, and you’ll create lifelong memories. If you’re thinking about pursuing it, all we can say is go for it! Plan ahead, make good financial decisions, and take a leap of faith. Even though many people may doubt you, you know what you are capable of. We are so glad we followed our hearts and can wake up every day to do what we love. With a bit of planning, budgeting, and some sacrifices along the way, you can do it too.

Have any questions about traveling fulltime? Let us know in the comments below!

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