By John Brown
With post pandemic travel back in full swing, it’s time to dust off those passports which have been sitting with us in lock down for so many months / years.
Though despite many of us in desperate need of vacation, as quickly as borders started to re-open, most worldwide economies started taking a hit.
Most people post pandemic are in one of two camps; you saved your disposable income and you’re ready to splurge, or COVID and the post economic effects have left your wallet in a world of hurt.
If you fall into the latter, and need ways to fund your travels post pandemic, here are some modern ideas which apply to the new world we’re facing.
Ways to Fund Your Next Travels Post Pandemic
Look at Loan Options
We would only ever recommend a loan if you can responsibly make the repayments. If you find yourself in a position where you’re unsure of your future finances, please jump to the next.
However sometimes opportunities come up on short notice and you don’t have time to save. This could be one scenario where you choose to finance a trip with a loan.
There are many different types of loans you can look at, payday loans are short-term loans that can be incredibly helpful at short notice. In some instances, you can obtain a loan the same day you apply for one, so what’s left is to pack your suitcase.
Whatever loan you choose, make sure you read the fine print, and genuinely plan out whether this is something you can afford to repay. Terms and conditions, and costs of a loan will vary greatly.
Have a Designated Savings Account for Travel
The modern version of a piggy bank, this option is a more long-term solution but can be equally as effective.
Start small by contributing at least $5 to $10 from each paycheck into a savings account meant only for travel. Your savings will grow little by little, and before you know it, you’ll have saved up enough cash to finance your dream trip.
With this method, you can save money without having to make any big changes to your lifestyle. You can set up automatic payments too so you ‘set it and forget it’ from your main account.
To motivate yourself, try setting a specific goal, like saving $500 for a ticket to Japan within the year. Having a number to aim for will help you stay on track and ensure you’re putting enough money away.
Set this account up without card access, so you can’t pull money out of it. If you’re saving a lot, and have a high goal, consider whether an interest bearing account is worthwhile – why not have the bank contribute too!
Generate Extra Income
It’s never been easier to generate extra income, and even though the pandemic wiped out many economies, there are plenty of ways to make a little extra cash on the side, from odd jobs to starting a blog or small business.
Think about how much time you have and what kind of skills you can monetize. For instance, if you’re a great photographer, you could start a freelance photography business on the side.
Also look at the things you have around you and compile a list of anything you could sell which you don’t need / use anymore. You may be surprised just how profitable a well placed garage sale can be!
Start Travel Hacking
This is a great method for people who love to travel frequently; using credit card points and miles to get free or discounted travel.
While it truly takes some time and effort to learn how to do it effectively, once you pass the learning curve, you’ll be racking up free flights and hotel stays in no time.
There are various methods for effective travel hacking. One popular method is to sign up for multiple credit cards and take advantage of the sign-up bonuses.
For example, many cards offer tens of thousands of points just for spending a certain amount of money within the first few months. If you’re a savvy spender, you can easily meet this requirement and end up with a free flight or hotel stay.
Cut Back on Spending
This one is a no-brainer, but it’s worth mentioning. After we emerged from lock down there was a mad rush to get back into our pre-COVID spending habits, from hair to coffee, and going out to the pub.
So it’s worth a reminder to be mindful of your spending habits.
Track your spending for a month. Then, take a closer look and see where you can cut back. Do you really need that daily latte?
Can you cook more meals instead of eating out? Every dollar counts. Even if you can only save several dollars daily, it will add up over time.
Asking friends, family, and strangers for money to fund your travels can often fall on deaf ears, after-all they need their money for their own vacations!
However if you’re doing something unique – perhaps a long trip or an adventurous expedition, it could be worth turning to crowdfunding.
There is a sea of choices when it comes to platforms of this type, and most of them allow you to set up a page where people can donate money to your cause.
You can even offer rewards for different donation levels, such as postcards from your travels or a personal thank-you video.
There are a number of ways to fund your next travel adventure. Find your creativity and determination, and with the right approach, you can make your travel dreams a reality.
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