Your Long-Term Travel Savings Plan

“I’d love to travel more often...but I just can’t afford it.”

Have you found yourself saying something like this? Expense is the biggest roadblock keeping people from fulfilling their travel dreams. And yes, a phenomenal Christian travel opportunity is going to require an investment. But once-in-a-lifetime experiences are possible with a little forethought, moderation and creative problem-solving. We invite you to take these suggestions to heart and begin long-term planning for a glorious getaway with God!

5 tips to put into action:

Pay attention 

Financial advisors have a phrase for the tiny ways we spend money every day without thinking about it: phantom expenses. They’re so insignificant we hardly notice. Cups of coffee. Bottles of water. Lunches out at work. Mid-afternoon snacks. These might cost you three or five dollars at a time, but wasting five dollars a day means an annual loss of around $1,800. That’s money that could send you sailing on a concert cruise of the Caribbean.

Action step: Track your expenses for two weeks. Write down everything you spend your money on, then cut back on impulsive purchases.

Change your entertainment 

Satellite or cable TV costs, on average, more than $100 a month. That’s $1,200 a year, not to mention hundreds of hours that could be spent outdoors walking, reading a book, playing games with family or building relationship with friends. Or, rely on one of the many other options for watching TV, from Amazon Prime to Netflix to Hulu. While you’re at it, don’t forget that DVDs from Redbox cost just $1.50 a day, whereas going to the movies costs around $10 per person.

Action step: Investigate a TV streaming service. How does its monthly rate compare to what you’re paying for hundreds of cable or satellite channels you don’t even watch?

Earn a little extra

The interconnectedness of our modern lives has introduced countless new ways to make extra cash. Sure, you could just ask for a raise, but you could also start driving for Lyft. You could rent out a room in your home with Airbnb. Sell your old stuff on eBay. Do odd jobs for others via TaskRabbit. You can even earn money for attending church services as a “mystery worshipper.” Churches have hired the research firm Faith Perceptions to evaluate their worship services. Sign up, go to a church, complete an assessment and the firm will pay you $45.

Action step: Determine the amount of time you have free and which odd jobs interest you. Then set get started!

Open a savings account

It’s hard to spend money you can’t see. Open a savings account that’s linked to your primary checking. Identify an amount of money you can set aside weekly and have it automatically transferred into your travel savings account. At the time of this writing, interest rates aren’t huge, but they are improving. Ally, Barclays, Synchrony and Discover Bank offer online accounts with yields around 1.00%. Rates change, of course, but more powerful than the yield is the fact that this account will be tucked away for a sunny day of travel.

Action step: Open an account and start saving. If you’re able to set aside $100/month, you could have enough to cover an inside cabin for one person on a Caribbean cruise… in just eight months!

Tell your friends

“I’m saving my money for an Israel tour next spring.” Those ten words, spoken to friends and family, may be all it takes to make sure you reach your goal. Why? Friends hold you accountable. If they know you have a goal in mind, they’ll help keep you on track. Second, they’ll support you by removing spending temptations.

Action step: Set a travel goal, then set a financial goal. Tell those closest to you about it, and ask them to help you succeed. Better yet, ask them to join you!

Science has shown that spending money on experiences like travel is much more meaningful in the long-run than spending money on material things. Why? Because the temporary satisfaction of “stuff” fades quickly. However, people always look back on unforgettable travel memories with happiness. Even planning those experiences—including saving toward a travel goal—can intensify the joy that follows.

So take action, and start saving for an upcoming cruise or tour with Inspiration. We hope to see you soon!