Life is short, and there are many activities that you can indulge in to have a good time. That said, money is a common concern for many, and enjoying what life has to offer often comes with an associated cost. This is especially true if your intended activity is to travel out of your immediate community, as you’ll have to account for a barrage of costs such as transportation, accommodation, food, and so on.
If you’re eyeing a big adventure in a few weeks, then you may be planning to cut back on various costs (like weekend night outs) to ensure that the upcoming trip goes through without a hitch. But you may also be wondering: Is it possible to plan for a trip without completely depriving yourself of a fun time over the weekend?
The good news is that these two things aren’t mutually exclusive. There are several effective ways to simultaneously save up for your travel plans and enjoy your weekends. If you want to learn how to maintain a high travel fund without giving up the occasional night out, we will share some actionable ideas to help you reach those goals.
Let’s jump right into it!
1. Use Banking Features and Credit Card Rewards
You likely have a bank account and some credit cards with you right now so consider taking advantage of their features and perks for your upcoming travel.
One excellent banking pro tip is that you can create and set up an offset account to reduce the amount of interest you’ll pay for any existing loans you may have. For instance, if you have an offset account with a balance of $30,000 and a loan of $100,000 linked together, you’ll only be charged an interest rate as if your loan is worth $70,000. You can learn more here.
Certain credit cards also reward users with points, cashback, or online miles for every dollar spent on them. If you use your credit card wisely and responsibly, you can convert these points for flights, accommodations, travel insurance, or other tangible rewards at next to no cost. If you have enough points, you may not need to spend on any of these major travel expenses at all!
Of course, this only applies if you are in good standing in the eyes of your financial institution partner. So be sure to keep your credit score high by meeting the minimum balance in your bank and always paying your repayment dues on time. These good financial habits can all help propel you to achieve your travel plans without a high cost.
2. Create a Goal Travel Fund Target
The first thing you should do once you’ve finalised your travel plans is to set a travel goal budget. A travel fund target gives you a figure to aim for when saving up for your upcoming trip. This removes the ambiguity of the process and helps keep you accountable whenever you feel tempted to overspend.
Your target travel fund shouldn’t just be a random number you’ve magically come up with. It needs to be grounded on practicality and considerate of the different spending categories like food, lodging, and transportation. To make your figure realistic and feasible, start by estimating the total cost of your trip. Include your projected daily costs and transportation costs in the equation. Then, reverse-engineer that figure by dividing it into different spending buckets. Following that, further divide it into daily spend caps.
By following this process, you can make the seemingly overwhelming goal something that you can actually achieve. This is because you can actually keep track of your goals in your daily life and influence your decisions to accommodate them.
In essence, a well-thought-out travel fund helps you become a more intentional saver before the big trip. And if you see that one night out won’t get in the way of your goals, then you can enjoy your weekend guilt-free since you have the data to back it up.
3. Plan Your Weekend Ahead
While the thrill of the weekend can be in its spontaneity and dynamic nature, it’s important to keep your travel goals in mind before saying yes to every invite. Contrary to what you may be led to believe, however, it’s possible to have a fun weekend without doing the usually expensive night outs with your friends.
The difference lies in your control of the matter. If you’re working towards padding up your travel fund, then you’ll have to be more selective of how you spend your weekends. You may have to cap your spending to a certain amount, for instance, to ensure that you don’t overspend. That said, this doesn’t have to be looked at through the lens of restriction. In some cases, you could even be saving more by planning ahead.
For instance, you could end up getting discounted rates by booking a weekend activity in advance. With a little planning, you can keep your travel fund secure while still gaining control over how you spend your weekends.
4. Swap Expensive Night Outs for Affordable Alternatives
If your go-to activity at the weekend is clubbing or cafe-hopping with the squad, then it may feel disheartening having to halt these activities to save money. However, it’s all about perspective. Night outs and cafe dates aren’t the gold standard that shows a weekend well-spent. It’s more than possible to have a fun weekend without paying a sizable check at the end of each hangout.
Instead of night outs or eating brunch at fancy cafes, consider engaging in alternative and affordable forms of social entertainment. For instance, you can host game nights or movie marathons at your home for a relaxed yet enjoyable time with the people you love. You can also join a free park run with your buddies as a way to socialise and stay healthy.
If you want to engage with the community, then you can consider exploring free community events or staying at public parks and beaches for a fun and special weekend. Consider your hobbies in the equation and find free ways to engage in them over the weekend.
With these types of activities as a start, you can have a fun and social time without the hefty price tag.
5. Cut Back on Spending in Daily Life
Can’t live without one night out on the weekends? That’s a valid feeling, and there’s one way you can retain both a fun weekend and a travel fund: Reducing your spending in every other aspect of your life. Growing your travel fund isn’t exclusively proportionate to sacrificing your weekend fun. Your everyday habits play a big role in influencing your monthly expenses. To ensure that you don’t drain your travel budget, consider being more mindful of how you spend your money throughout your daily life.
For instance, instead of eating out or buying coffee from a local cafe, consider meal prepping and drinking homemade brew instead. Instead of riding a taxi, consider commuting by the rail or through rideshare platforms. You can also proactively eliminate spending for subscriptions or memberships you no longer use. This money can then be used to fund your future travel plans or other pressing matters.
By making these small lifestyle adjustments, you can slowly but steadily grow your funds. This, in turn, can bring you one step closer to realising your travel dreams without depriving yourself of a fun weekend.
6. Share Costs With Friends
No person is an island, and this is true when finding fun things to do, whether it’s a local weekend hangout or a travel plan. If you want to keep costs low, consider doing activities or booking tickets that involve groups. Some weekend activities offer group discounts that can help you individually save more money than you otherwise would when doing it solo. Sharing with friends can also reduce the total cost of various costly activities, like dining out or riding a taxi.
Friends don’t just make weekends cheaper—they can make travel more affordable and fun too. Travelling with friends in general can help cut costs drastically, and thus keep your travel budget low. For instance, an entire group of friends can share costs equally for room and board. A squad trip can also allow you to share meals and try different things without consuming them all by yourself.
In essence, having some friends can help you reduce the cost of both travelling and weekend fun. Even their presence in one of these activities can be a big help, both in a social and financial sense.
We hope these tips will help you in your journey towards raising funds for your next trip!
