*This is a sponsored post *
One of the questions I get asked a lot about our travels is how we afford it. So many people dream of traveling and money is often a key factor in decision-making.
I think a big part of this is how we prioritise travel too - I realised I would rather travel than buy a new car (or kitchen) or spend money on material things, and sometimes just a readjustment of priorities can free up extra money to put towards your next trip. This is why I drive an old corolla and why Emmie and I are living with mum and dad for the next six months - save, save, save.
I was lucky that I had savings I could use for this trip. And I’d been working for 20 years so I have a house with a quite small mortgage that we could rent out while we are away. The rent pays the mortgage and there is usually a bit left over for us too.
I’ve recently started to get a little work writing travel stories or sponsored posts on my blog, like this, and very occasionally I also get paid for advertisements on instagram - but only products I use or am happy to endorse as I know that our audience trusts us and our opinion.
So I had some savings and I was planning to use the money for a kitchen renovation for our house - but decided to spend it all on traveling instead. It just made sense to me. And I was really lucky that these savings plus the income I was earning allowed us to have this really big adventure together.
But if you don’t have savings what are the other options you have to fund your trips? Here are a few for you to consider.
Sell your stuff!
When I was packing up the house I discovered so much stuff we had never even used - everything from shoes and clothes to toys, kitchen and dining ware. I had two market stalls at the local markets, making over $1000. I sold Emmie’s old bike and car seat, books, an old TV, children’s clothes and toys and lots of knick-knacks.
I also advertised a lot of furniture online and on the local Buy Sell Swap pages on Facebook. I made another $800 from these sales and I wasn’t even as ruthless as I could have been with what I sold. We still have a storage unit at home and soon I’ll be selling lots of stuff from there too, to make more money.
Rent out your spare a room on a short term homestay website or to a tenant.
A lot of people do this nowadays - rent out a spare room in their home on short-term homestay websites. It will give you a regular income that you can pop into the travel kitty and build over time. It can be work, and it will be a change, but every penny helps. I know people who rent their house out on weekends and stay with their parents and it's helping to grow their travel savings.
Stop spending on things you don't really need.
Every time you want that extra coffee or to buy lunch at work, reconsider. Change your everyday routine to become more budget focused and every time you don’t buy the coffee put the $5 you’ve saved into a travel jar so you can see your money growing. I have just started back at work while we are saving and in the first week I spent $15 a day on coffee! That's $75 a week I could have saved - and the equivalent of three nights in a guesthouse in Asia.
Reuse and upcycle
Back in the day when things broke we got them fixed, when clothes were torn we had them mended. In our age we are such a disposable society that if something doesn't work we throw it away and buy another. Start reusing, fixing and upcycling what you can.
When we cleaned out our home I was so shocked at how many toys I’d bought for Emmie that she had never used. I’m ashamed to say that whatever she wanted she got. And then she didn't use it. What she would have loved more is craft to make playthings, time devoted to a few special items, or a weekly trip to Vinnies to pick out a toy (for cheap) or a toy swap with friends.
If you don’t quite get there with your saving you can always take out a personal loan to fund your trip. I’ve done this in the past and as long as the amount isn’t too big I’ve been comfortable with it as an option for funding a family holiday - traveling sooner rather than later.
People’s Choice Credit Union has a range of personal loans to help you fund your travels. Its Unsecured Personal Loan has no ongoing fees, low interest rates, additional repayments and redraw. And because it’s a credit union it is owned by members - its customers - and it focuses on people, not profit.
People’s Choice also has a handy calculator you can use to work out your repayments, the loan term, how much it will cost to pay out the loan in one lump sum, and a comparison tool to work out the right loan for you.
There are so many ways to save money and fund your holidays - from working towards long-term goals or racing towards your holiday sooner with a personal loan. I’d love to know how you make your holidays happen. Let me know in the comments below.
This post is sponsored by People's Choice