“Travel before saving money” or “save money before traveling”?
his is one of the questions that many people are facing right now because everyone in every generation always has the money question in our mind especially frequently traveler. These people always have a bucket list destination and will lose their mind if they could not get there.
Different ages with a different thought, for Baby Boomer generation who have worked very hard and have saved money for their entire life, want to reward themselves with traveling after retirement which is a compensation for their working-hard period. However, too much traveling may result in losing your retirement saving. So, money planning is a must before spending with traveling.
For Generation Y who thinks that “Experience” is what you need to fulfill before anything else; a car or a nice house. They do not wait until they are too old to walk. Time flies and they have been working for a while, traveling both domestics and international, and fulfilling their experience as they wished. However, it is time to bring stability into their life whether own a house or an apartment that they ever dreamt of but they do not have enough saving money to buy those things.
So, what shall we do? Some people who just come back from the trip especially international trip often face with “bankrupt” situation because of the common phrase “It is not that often that we travel ...”. Many people think that it will be ok before purchasing things but maybe faint after knowing that it was over their limit or the credit card transaction lists are longer than expected. Some may cry out suddenly that “What did I do!”. Due to getting back to real life and working to pay the debt are not that fun as traveling at all.
However, this problem will be solved if you have a good budget planning.
Begins with gather in-detailed information to find the right spending that is worth your money. Sometimes you may regret later that you have to pay more because you did not know there was a promotion earlier whether plane ticket, accommodation, train ticket, etc. You can collect this information and prepare to buy at the cheapest channel before the flight.
So, you are full of all the information that you needed, the next step is to plan your budget and start saving.
Most people may be curious that what is the difference between saving for traveling and normal saving? Is it the same saving fund? The answer is “It is not the same” because saving for traveling in a bank gives an interest in return and will not let you use the money.
It is different from using your saving fund because if you take out some of it means that you are taking out some necessary-future money. If an emergency happens, you will blame that fun traveling trip and think that you should not go. However, it is too late.
Opening a saving account or a fixed-deposit account for a higher interest will help you saving money for traveling. Also, you can determine how long you want based on your destination cost. This budget planning and money will not affect your regular basis spending at all.
Another basic way but required a very strong mind is a piggy bank and household account record. Many people overlook these basic methods. This helps you remind yourself and not be too extravagant. You have to be strong and cut off every expensive thing, forego the sour for the sweet and think of your dream destinations. Moreover, find a part-time job regarding your talent is another way to improve your skill and make money faster.
Finally, the main practice is to separate saving the fund from traveling budget and others.
This is a solution for every generation to the question “Travel before saving money” or “save money before traveling”.
Why choose when you can have them all whether “Travel” or “Saving” at the same time.
A good saving habit, thinking before spending and do not use your necessary-future money are the right way for your travelling budget plan