Today we’re talking about money and how you can save money before your trip. The first question you usually ask yourself is, “How am I supposed to finance a trip like this?” Some people naturally have a lot of money, others save diligently, and still others have their own business or work as freelancers on the road.
No matter how the money comes in, you can raise a lot in advance. We saved more than €10,000 in just under 6 months. You can save money anywhere, you just have to start somewhere!
Before we get started: Create a list/document where you write down all your income and expenses. This will give you an overview of everything you actually pay each month. You can often then see straight away what might be pointless or where you can still save a lot.
- 1. Off to the flea market
- 2. Cancel your subscriptions!
- 3. Cancel memberships
- 4. Cancel cell phone, internet, etc. contracts
- 5. Do you need this insurance?
- 6. Save money and less luxury
- 7. Sell your car and scooter?
- 8. New account for your travels
- 9. Sublet your apartment
- 10. Get money as a gift
- 11. Find a part-time job
- 12. Save money with your salary
- Schakkkkaaaaa you can do it
1. Off to the flea market
We’re sure you have enough stuff lying around in your room, apartment, and/or basement. Get rid of all that stuff and try to get a few euros for it. You can find flea markets or online platforms everywhere, like eBay, classifieds, Amazon, or even Facebook groups.
What do you want with all this stuff? Do you really still need all this? Sell it or throw it away! The more “junk” is gone, the easier life is. We cleaned out our apartments down to the last corner and were able to sell quite a few things. Only then do you realize how much accumulates over the years. I felt like a bit of a hoarder.
2. Cancel your subscriptions!
Do you still have a subscription to magazines, donations, or apps somewhere? Cancel such things! Even €10 more a month is just €10 more a month! I had a few photography magazines that I canceled immediately. This saved me, among other things, another annual subscription. You should also cancel train subscriptions in good time so you don’t have to pay for additional months unnecessarily.
3. Cancel memberships
You’ve been a gym member for ages, but you never go anyway, right? Cancel your membership as quickly as you can. It’s often not that easy to get out of such contracts.
Unfortunately, it didn’t work out for us, so we continued paying diligently without even entering a gym. I was also a member of the tenants’ association, where I had to pay a small annual fee. I canceled those things right away, too.
4. Cancel cell phone, internet, etc. contracts
Do you need your expensive cell phone contract abroad? Most of the time, you can’t do much with it anyway. Your home internet connection is also no longer valid unless you sublet your apartment. We canceled our cell phone contracts and switched to prepaid.
This way, we can make calls and send text messages in an emergency. We still have WhatsApp, Facebook, and internet access almost everywhere via Wi-Fi – that’s all you need! Before we left, we also paid off all our financing and were able to cancel it. We wanted to keep our monthly expenses in Germany as low as possible.
5. Do you need this insurance?
For us, it was only important that we had liability insurance and long-term international health insurance. Do you also have thousands of other insurance policies running? Then cancel them if you really don’t need them. We often pay so much money every month for things we could have saved on.
After I canceled all my subscriptions, contracts, etc., I had almost €300 more per month – crazy, right? You should also check your contracts to see if you can get better terms here and there. You may be able to downgrade some insurance policies or suspend them for the time being. You can find all the information on travel insurance here!
6. Save money and reduce luxuries
Do you party every weekend, enjoy going to the movies, eating out, or doing other expensive activities? Try to limit yourself here and save your money. You should also stop spending €300 a month shopping – you could put that money to better use abroad.
We cut back on these things and were able to save quite a bit of money each month. Cooking and movie nights are a relaxing alternative to going to restaurants, parties, and the mall!
7. Selling your car and scooter?
If you’re going abroad for a longer period of time, you should consider selling your car/scooter. They’ll just sit around and cost you a lot of money even if you don’t use them (insurance/taxes, etc.). We don’t have a car anymore, but we had a whopping €8,000 more during our trip because we sold the car.
8. New account for your trip
To keep track of things, we set up a joint account and put our savings into it. This way, we could always see exactly how much money we had accumulated. So, opening a new account isn’t a bad idea. With DKB, it’s super easy and hassle-free. You can find more information about credit cards here!
9. Sublet an Apartment
Don’t want to give up your room or apartment? Then simply sublet it. Well, “easy” isn’t always the same as “easy.” This will save you unnecessary duplicate costs. It’s best to discuss this with your landlord beforehand so that problems don’t arise later.
If your apartment is huge, consider moving to a smaller one. Find one that’s cheaper and save the rest for cool things on your trip.
10. Get money as a gift
Before you get too many things that you can’t take with you on your trip anyway, simply get money as a gift. This is probably the easiest way for both parties. You get cash, and your counterpart doesn’t have to worry too much about a suitable “farewell or world travel gift.” Of course, that’s just a matter of opinion!
11. Find a Side Job
Do you still have time to take on/start a few small jobs on the side? Then do it! This way, you can earn a little extra money weekly/monthly. If you’re already working as a freelancer or earning money in other ways, then land a few more clients and collect the necessary cash.
I accepted all the photography jobs and was able to save around €2,500 to €3,000 in 6 months. Babysitting, photography, waiting tables, seasonal work, teaching workshops, graphic design, copywriting, warehouse work, modeling, promotion, freelance work—there are so many types of side jobs.
Check your daily newspaper, Facebook groups, internet portals, etc. for suitable positions. You can find more information about job opportunities while traveling here!
12. Save money with your salary
We transferred a portion of our income directly into the new account every month. A few thousand euros have already accumulated there. It’s best to set up a standing order right away!
This way, you won’t be tempted to spend all of your salary. How much money do you really need each month to “live”? Everything you definitely don’t need or anything left over at the end – put it in the other account.
Shit, you can do it!
We did it, so you can too! Overcome your laziness and realize why you’re doing all this! We were so happy when we could add another €100 to our account. In the end, we were proud of ourselves and could set off on our big trip with a sense of security.
We would have gone on a trip around the world anyway, aside from that. In times of need, people become inventive, and we would have managed it too. But with a few thousand euros in the back of our minds, it still feels better.
You just have to make a start and stick with it! Today, we’re sitting in beautiful places, enjoying life to the fullest, and doing everything we enjoy. So, it was more than worth it!