Do you have your mind set on an epic trip, but keep telling yourself that it will happen “someday” when you don’t have rent or bills or the desire to order takeout twice a week? Well, someday starts today (cue the 80s movie training montage). With some smart moves (think: the right travel credit card) and some strategic savings (sorry, daily $6 latte), you’ll be on your way to that dream trip in no time.
Ready to make it happen? Read on for our 10 tips to make saving for that trip much easier than you think.
1. Use a travel credit card
Either you know someone who uses points to pay for travel or you’re already doing it yourself. Either way, adding the right travel credit card to your repertoire can make all the difference. Enter the TD® Aeroplan® Visa Infinite* Credit Card, which offers new Cardholders the opportunity to score up to 40k Aeroplan Miles (enough for two short-haul round-trip flights pretty much anywhere in North America). It also rewards users with exclusive Air Canada® benefits, travel insurance, and a rebate on the first year annual fee, which are some pretty sweet perks.
2. Start a dedicated travel fund
Open up a savings account to keep your travel funds separate. That way, you can watch your savings grow and won’t be tempted to spend it. If you know you’ll be tempted to dip into it early, find yourself an account with penalties for early withdrawal or a limit to how many times you can withdraw. Consider an online savings account, which may yield higher interest rates and (if you don’t have an ATM or debit card) also makes it more difficult for you to quickly access the cash in a weak moment.
3. Keep track of your spending
Once you have a savings account ready to go, you need, well, savings. Take a long hard look at your spending. We’re talking itemized lists, perhaps color-coded if you’re feeling fancy. It’s surprising how small purchases can add up. And once you see it all on paper, it’s easier to see which expenses you can cut.
4. Skip pricey morning coffees
We know it’s pumpkin spice latte season, which may make this even harder, but skip that pricey coffee drink in the morning. You could save more than $30 a week (that’s well over $100 a month). Not a coffee drinker? Not so fast. Whether it’s a pricey gym membership or a daily chopped salad, cutting out one big cost can be game-changing.
5. Sign up for a travel loyalty program
Signing up for a travel loyalty program like Aeroplan gives travellers the opportunity to add to their travel fund without even trying. With Aeroplan, you can earn miles by buying necessities at the stores you already shop at – getting you closer to your goal. And for those with the TD® Aeroplan® Visa Infinite* Credit Card, using the two together allows you to accumulate miles even faster. Credit cardholders earn 1.5 miles for every $1 spent on gas, groceries, drugstores well as on aircanada.com. On top of that, they’ll also earn 1 mile for every $1 spent on all other purchases made with the card.
6. Set a goal
Saving money is cool and all, but giving yourself a goal to work towards can be a great motivator. Do some preliminary research into how much your dream trip will set you back (aside from flights and hotels, be sure to factor in on-the-ground costs – if you don’t have a destination in mind, set a goal first and use KAYAK Explore More to find total trips within that budget). Once you have a goal, you can incentivize yourself as you work towards it and hitting it will feel oh-so rewarding.
7. Find a community
Whether you’re planning on travelling with a partner or going solo, finding like-minded travellers similarly saving for their next adventure can be just the thing you need to keep you motivated, help you celebrate the wins and commiserate with you as the caffeine withdrawal sets in. Whether it’s a Facebook group or a local meet-up, sharing your journey can contribute to your success – and make the experience more fun.
8. Manage expectations
If your dream trip is a two-month, multi-city tour of Europe and you only want to stay in 4-star hotels, you won’t hit your goal overnight. Give yourself a reasonable amount of time, based on the type of trip you’re hoping to take and how much you’re able to realistically save.
9. Stay flexible
If you’d rather travel sooner than later, be flexible. Skipping the hotel for a hostel in one or two cities, or swapping one city for another that’s a bit cheaper, may edge you closer to your goal. You can also save by considering alternative airports. Include nearby airports when you search for flights to explore alternatives and compare costs.
10. Be patient with yourself
Saving for anything is a process and there will be successes and setbacks. Through it all, be patient with yourself. In this case, it’s not about the journey – it’s about the destination. So if you have a weak moment and splurge on that venti double-shot no-foam cappuccino, it’s OK. You’ll likely learn a ton about yourself through the process and it will mean even more when you’re finally watching the sunrise from a mountaintop in Bali.
This article was written in partnership with Aeroplan.
