TravelPUNK.com’s exclusive series- “How to Bring Your Travel Dreams to Reality. 5 Steps to Get in the Game (5 of 5)
5. Save your money.
Okay, the topic that you’ve all been dreading- Money.
This is the one thing that holds most people back from traveling. In fact, we took a poll a few months ago that showed out of 114 people, 63.1% of them felt that money was the reason that holds them back from traveling.
Either they didn’t make enough money or they couldn’t save enough money.
Even if you don’t make enough money, there is still hope for you to make your travel dreams happen.
Start a travel fund.
Do you know what the one thing that most wealthy people have in common? They know how to manage money.
That is to say, that when they receive each paycheck, they don’t go and blow it all at a sushi restaurant and a trip to Nordstroms.
They designate portions of each paycheck for specifics things, one being a travel or vacation fund.
Start with 10% of each paycheck and any extra money that comes in (birthday money, odd jobs, part time job, selling things, etc…). If you can save more than 10%, then do it, but don’t do so much that it’s puts you in a tight squeeze where you’ll only find yourself tempted to touch your travel fund all of the time.
It doesn’t matter if it’s ten percent of $10, $200, $2,000, or more. The important thing is that you create the habit of setting aside 10% of every dollar that comes your way.
It will get easier and easier, trust me.
The first thousand dollars is the hardest to save and when you reach that amount, you can do it. Start chipping away at it right now.
Here’s how to do it from the comfort of your home. Stick one dollar in a jar or “duct-taped” shoebox with a slot on top of it to slide dollar bills and any and all spare change into. Do it now. At least one dollar.
Then, start saving a minimum of 10% of every dollar or paycheck that you make and save it in that shoebox or duct taped jar. Another thing you can do is go to your bank and create another bank account that is linked to your existing checking or savings account and designate it as your – “DREAM TRIP” ACCOUNT. You are strictly prohibited from withdrawing from this account UNLESS it is directly related to your dream trip (like buying your plane ticket), but you can make as many deposit into it as you like. Those are the rules.
Stick aside as much money as you can afford to for your travel fund, but once again don’t overdo it or you will find yourself tapping into it and defeat the purpose of this account.
The goal is to bring your travel dreams to fruition by taking proactive action steps.
The one thing that no one can take from you is your travel experience.
If you really want to manage your money beyond a travel fund and want to know how wealthy people manage their personal finances, the Millionairemind.com is a great place to start.
Learning the system that T Harv Eker has laid out in his best selling book “The Secrets of the Millionaire Mind” will help you create a great foundation with your finances and dispell any myths or negative thoughts and programming you’ve ever had growing up in regards to money or wealth.