7 proven tips to help you save up for a trip!
Have a trip coming up soon? And your finances are not as healthy as you want them to be? We’ve been there!
We know more than most that the call to travel is hard to resist. Your heart is telling you to get a move on and go see the world. But, your head stops you – “hey! your savings aren’t looking so healthy!” Yup, when you look at your savings account you’ve enough to cover your daily expenses, but definitely don’t have the funds for an overseas trip.
But don’t be disheartened. There are savings strategies you can apply before going on that trip. It will require quite a bit of effort on your part, but if traveling is the goal, then we’d wager it’ll be worth it.
Without further ado, here are some savings strategies you can apply for your upcoming holiday.
My essential tips to help you save up for a trip
1. Set up a travel savings account
Saving money to travel in 2025 is hard work, but with the right strategies, it can be as easy as hopping on a plane.
If you find yourself continually taking money out of your savings account for unnecessary purchases, then one way to exercise better discipline is setting up a separate travel savings account. This account can help you separate travel-related expenses from your other life expenses, making it easier to manage your finances overall.
Also, putting your money in a savings account also opens you up to better interest rates.
If you have a decent amount of savings and your travel date is still far off, this can be a good way to earn a little extra each month. That said, be sure to shop around for the best deals for your travel savings account. Some have better interest rates and better minimum deposits than others.
Some of the best-rated travel savings accounts include:
- Schwab – they refund ATM withdrawal fees worldwide and it offers zero foreign transaction fees.
- Oportun – this a savings app that connects to your bank account. It uses algorithms to see when you have a large bill coming up (such as your mortgage). And it will only withdraw money if it sees you have enough in it.
- Acorn – Link your debit card to it and it rounds up everything you buy to the nearest dollar and puts the change in a savings account.
2. Travel cheaply
It’s important to be realistic about what kind of trip you can afford. Even though many of us fantasize about the idea of staying in 5-star resorts and eating at fancy Michelin-star restaurants every night, that’s simply not feasible for 99% of the population.
So, try to create an itinerary based on a set budget. Don’t go overboard with your expenses, but don’t make the experience challenging for yourself either. Strike a balance!
For example, if you’re saving up for a house or a car, or if your capital is at a low point, don’t blow half of your savings on the trip.
You can still go on the trip, just fly economy, stay in hostels, and visit free attractions.
It’s more than possible to experience adventure and comfort without necessarily spending a lot. You just have to plan it in advance.
3. Cut out unnecessary expenses leading up to your vacation
Let’s face it: it’s easy to be tempted to buy stuff we don’t necessarily need.
From bags to clothes, there are many mini purchases that we justify as rewards for ourselves, but are ultimately just distractions from that one big goal you’d like to achieve. Like travel.
As such, if you have a holiday on the horizon, be proactive in adjusting your spending habits accordingly.
Instead of eating out at restaurants, cook at home. Instead of buying iced coffee from a cafe every morning, make it at home. And don’t buy new clothes unless absolutely necessary.
By adopting these thrifty pre-travel practices, you can ensure you have enough to cover all your travel expenses.
4. Don’t get into debt for a trip
Sure, travel is an amazing experience, but it’s important to remain grounded as to what you can afford.
If you need to take out a loan for a vacation, be sure that you can pay it off on time.
Getting into debt because of travel will be a major financial setback for future you. And it can strain your ability to pay off your other debts, leaving you more stressed post-travel.
In short, be sure that your travel won’t interfere with your debt obligations.
If the travel date is still far off, try to pay most of the debt off quickly to lower your total expenses. And at the very least, ensure you’re paying it on time.
5. Put money in a high-interest savings account
Another way you can save up for a trip is by putting a big chunk of your funds in a high-yield savings account.
This type of account is known for its better interest yield, typically 2 to 3% more than traditional bank accounts. Also known as high-interest savings accounts, this account type is an ideal choice for growing your savings without committing to a long-term fund like a time deposit.
This makes it perfect for travelers – you can enjoy improved interest earnings while still being able to withdraw your money easily.
If you want to get a full and accurate glimpse of your savings, Westpac’s savings calculator can help you calculate how much you should ideally be earning.
6. Automate your savings
Did you know that you can automatically sort and put your income in different accounts?
Not a lot of people know about this, but most banks allow you to automate your savings through your bank’s app or website. Browse through your bank’s website or contact an agent to see if you can access this feature.
This can be incredibly useful for disciplining yourself from taking out money from your savings account for other expenses.
Plus, you can easily prepare and track your travel funds here as they’re separated from your main savings account.
7. Use rewards programs to redeem points and miles
If used frequently enough, any traveler can get travel perks from their airline of choice or credit card provider.
This is assuming you’re using a miles and rewards-accumulating credit card, like Citi PremierMiles. If you don’t have one, look for local banks offering them and see whether you’re eligible to apply for one.
Using this card can be a great way to save your money on accommodations, lounge access, airline tickets, and a whole host of other travel-related expenses. It can also help you save money for other expenses in general, like groceries.
These points and miles can expire after a few years, so it’s best that you know its expiry date so you can use them up and take full advantage of it.
Thanks for Reading!
By adopting these thrifty pre-travel practices, you can ensure that you have enough saved to cover your travel expenses. Or you can use that extra money you on doing more fun activities in your travels. You may even want to pick up a flexible side job such as blogging, photography or teaching English with some of these top TEFL programs.
If you enjoyed reading my guide on how to save up for a trip, you may want to check out my other related (and popular) blog posts, like –
How to have adventures on a budget
How to save for a vacation on a tight budget
How to book a Mystery Hotel Deal and get luxury for less
Before you go! You may also enjoy reading some of my other most popular blog posts, including –
Can you visit Queenstown New Zealand on a budget (A Locals Money-Saving Guide)
Best Free Things to do in Cork County
11 Epic Things to do in Santorini in the Summer (2025 Guide)
Living in Sydney (2025 Guide) – What to expect from a local!
Last Updated on April 24, 2025 by snaphappytravel