One of the most stressful parts of planning a trip is budgeting and saving money for travel. Are you going to be able to afford to travel for the length of time you want to be away? How can you save extra money? What if I run out of money overseas? I’ve successfully saved for more than 7 backpacking trips, so I know a thing or two about saving for travel. However, I am not a financial expert, so this obviously does not constitute financial advice and may not be suitable for your circumstances. I also want to acknowledge the privilege of being able to afford and prioritise travel. Travel is a luxury not afforded to everyone. Even though backpacking doesn’t feel too luxurious most of the time, it is a massive privilege and luxury.
Cutting down your expenses
This is probably the easiest way to save money for travel and the least fun. Adopting a budget and cash flow system before you travel will allow you to track your expenses. Actually, looking at what you are spending each week will make you think, “Do I really need to spend $80 a week on Ubereats?” Then you can actively avoid ordering food and save that money towards travel. It sounds boring and tedious, but once you set up a system to track your expenses, it is very easy to maintain. I use a spreadsheet to enter all my expenses from the card statement. Then I reflect on what I’m spending money on and whether this aligns with my values. If it does, then great for me. If it doesn’t, I cut down my spending in that area and save the money towards travel.
Finance Expert and just overall Queen Victoria Devine has a free budget and cashflow templates, which you can download here. She also has a great podcast called “Shes on the Money,” which offers great tips and advice for saving, managing money, and reducing expenses.
It’s all about the mindset
There is one thing I’ve been doing for years that has helped me save so much money for travel. It’s not revolutionary, nor is it a pyramid scheme, just a little mindset exercise I do every time I want to buy something. Say I see a skirt for $20 in a shop that I want to buy; I think to myself, “Would I rather buy this $20 skirt, or would I rather have an extra 3 nights at Blanco’s Hostel in Railay Beach Thailand?” If I choose the skirt, then great; obviously, this skirt was a purchase I really wanted/ needed to buy. But 9 times out of 10, I will keep the money and save it for a travel experience.
Thinking like this really helps put into perspective the value of what $20 can do for you. But it also reminds you what you value, whether it be having a new skirt or being able to prioritise travel. You can use this mindset exercise with larger purchases or smaller purchases; it will work in any scenario!
Hot tip: the more specific you are with what the money will achieve, the better the mindset exercise works. For example, calculating that the skirt is worth exactly 3 nights at a specific hostel makes it feel much more real and tangible than just thinking about having an extra $20 to spend towards something travel related.
Sell your things
One of the easiest ways to make extra cash before travelling is by selling things you own but don’t use. It can be a bit of a chore sorting through clothes and other belongings, taking photos and then uploading them online to sell them but well worth it! You may think, “Who would want to buy my old clothes?”. But you would be surprised at what people will buy for $5-$10. I made $700 USD from selling clothes and other random items before I went to South East Asia in 2022. Most of my things sold for between $5-$20 as I don’t own expensive things. I prefer to use Facebook Marketplace for selling things online, but Depop and eBay are also great, depending on what you are selling and your location.
Get a side-hustle
You can earn a little cash on the side of your regular job if you think outside of the box. Not all of these options may be possible depending on your individual circumstances, such as location. But the below list will give you a good starting point. This is also not an exhaustive list, but it includes the main things I’ve done personally or friends have done to make extra money for travel.
- Babysitting
- Petsitting or housesitting (use MadPaws and Trusted House Sitters to find opportunities)
- Paid Surveys (Pureprofile, Octopus Group and Attapoll are some of the most popular sites)
- Freelancing on Fiverr or Upwork
- Doing random jobs in your neighbourhood on Airtasker (things like mowing lawns, cleaning up a shed, helping someone move house)
- Uber driver or food delivery driver
Saving while on the road
Something you may not have considered doing while travelling is working or volunteering while you travel. If you start a side hustle like freelancing on Upwork or Fiverr, you may be able to continue doing freelance work while travelling to earn money. You can also housesit and petsit overseas either for payment or free accommodation. It is incredibly popular for backpackers to volunteer at a hostel for free accommodation, food, and sometimes tours and activities. Volunteering in a hostel can include jobs such as housekeeping, reception, tour guiding, general maintenance, bar work or being a social rep. You can find hostel volunteering opportunities on Worldpackers. Use my code “BIGSISTRAVEL” to receive a $10 discount on your Worldpackers membership. Alternatively, if you email hostels or ask them upon check-in, they will let you know if they need anyone. Are you looking for more tips for how to manage money while travelling? Check out my money management guide here.
Did you find this blog post helpful? Want to see more travel tips and recommendations? Join me on Tik Tok and Instagram for daily travel content!
This blog is a free and independent source of information for all things travel and backpacking. If you benefitted from the information on this blog, please consider using the affiliate links to book hostels/activities etc. This will be at no extra cost to you but helps subsidise the cost of running a free travel blog.
