Teacher Trekker

One of the main reasons people tell me they are not able to travel as extensively as they would like is because they lack the money to pay for a vacation. The best money saving tip that I can give to anyone, regardless of age, nationality or economic standing, is to exhibit self-control: the difference between wants and needs is an honest discussion that every person needs to have with themselves. Do you really need this or do you just want it? Don’t lie to yourself! You don’t need the newest phone. Rather, you want it, but you do need to eat!

That being said, here are ten methods I use to save money that will help you get on your way to to the trip of your dreams. A number of these suggestions are designed to decrease spending, while others are easy ways to increase savings throughout the year. For each, I have given a detailed description on how to maximize savings and earnings. Since I am a teacher most of this is done between September and June over the course of the 10 month school year. In the summer months, I am traveling extensively and using the money that I saved. Not all of these suggestions are for everyone, but you’ll never know if you don’t try. I hope this list of my Top 10 Ways to Save Money for Traveling is able to assist you in pursuing your travel dreams.

# 10 – Look Down

Everywhere I go I notice money on the ground. It doesn’t matter if it’s in the street, on the floor of buildings or in your pocket, because it holds the same value regardless of location. I have even found money in foreign countries. Sometimes it’s loose change, and in other instances small bills. I don’t understand people who will pick up dollars, but not change. I don’t understand people who will pick up a quarter ($.25 USD), but not a penny ($.01). My great grandmother had a Depression era mentality that she drummed into me at a young age. The way I see it, money is money. If it’s there, and no one is claiming it, then I will. I’ve even found scratch-off lottery tickets that were winners. Someone is going to eventually pick it up, so why not have it be you?

# 9 – Have a Garage Sale

Having a garage sale is a good way of making some extra money and getting rid of old items that are taking up space in your house or apartment. A couple of years ago, a friend of mine suggested that we utilize the front of my house to have a garage sale. I am in close proximity of a public school and park. Due to my location, many people walk by and might stop: having a location with foot traffic results in customers. My friend brought his items to my house, so we had a larger selection of used merchandise from which to choose. We spent the morning and afternoon sitting outside my house waiting for people to pass by. Our plan worked, and we each make at least $100 whenever we hold a garage sale. One year I made almost $400 and cleared out an entire closet worth of space in the bargain.

Setting up a garage sale is very easy. Collect all of the items that you want to sell. Pick a day where many people will be available to come to the garage sale, preferably a weekend. If you do not have a good location, you may consider teaming up with some friends who live on a more easily accessible and/or busier street. Prior to the sale put up flyers around the neighborhood. Make sure you give all relevant information, so they can find your selling location. I usually do this within 7-10 days of the sale. Put them up at least a week prior, because the same people using the park last Saturday are likely to return the following week. Put the items out on tables. Try to put big ticket items towards the front to draw people’s attention. Don’t be scared to walk around the park and tell people the sale is going on. Another subliminal advertising strategy I have used is to get friends to walk into the park and speak loudly about how they just got a great deal at the garage sale and wish they had extra money to purchase more. Setting everything up is relatively easy, but making sales isn’t always that simple.

I don’t put price tags on anything. Instead I have a dollar amount in my head and negotiate to get as close to my price as possible. If they know your number, they have an advantage in the negotiation process making the high ball/low ball strategy more difficult to execute. Asking someone how much they think it is worth, will allow you to discover their number and create a counter to get you closer to your monetary goal than theirs. Sometimes their offers will be so low you will want to laugh and I do. In other instances, it allows for me to offer a counter that will help us end at a satisfactory compromise. If you don’t like negotiating and haggling then this maybe isn’t going to be as profitable for you as someone who loves partaking in such discourses. Always remember you can drop the price a small amount and always come down a little more later, but if you drop the price too quickly, you lost that round of negotiations.

# 8 – Make Smarter Beverage Choices

Water is the key to life, but bottled water is not your friend. Purchasing bottle after bottle day after day adds up and can make a significant dent in your savings plan. One bottle a day all year is $365. Purchase a good water bottle that will last or use an existing store bought bottle. Refill either one with water and continue with your day. You can always buy a filtration system, if you are concerned about the level of cleanliness in your local tap water. When I travel I have a portable ionic water filtration device that sanitizes local water. Really, the only time I purchase bottled water is when I am outside of the country and in need of a cold drink to cool me down, which is something my filtration system cannot provide me. However, if you are going to buy bottled water, make sure to give your empties to me, but more on that below.

Coffee is not your friend. Stop going to convenience stores, donut shops, the corner deli or the coffee chain whose name shall not be uttered to buy your morning coffee. Cheap coffee costs around $1 USD, while that mocha frappuccino costs you an average of $5. Either way, if you add that up over the course of a year, you are just drinking your money away. A low estimate comes in around $150 working its way up to $500 or more for those with more expensive tastes. Purchasing coffee in bulk and brewing it yourself will save you a considerable amount of money, especially if you are a heavy coffee drinker. Invest in a thermos to accommodate your coffee needs for the day.

My aunt collects for Project H2O which helps drill water wells in villages in Africa. They ask that you put your beverage money into an envelope for 2 weeks and donate it. Her church was able to help a village drill a second time, after an unsuccessful try, to get a well in their village. Before that the people had to walk over a mile with buckets and other vessels to bring water every day. Put a cup of dirt in a liter bottle of water and shake it up – that is what they were using to drink, cook and bathe until they had a well in the middle of their village providing clean water. If you don’t need the money for yourself, save up a few weeks and donate it to such a cause helping make the world you want to travel a better place.

# 7 – Recycling Bottles & Cans Adds Up

Many people have a jaded and often misguided belief that people who collect recycling are poor or homeless. Yes, it is fair to say that people from lower socioeconomic backgrounds may use recycling as a way of earning money, more so than more affluent members of society. The truth is, people of all economic levels can potentially save their recycling, bring them to deposit centers and receive money for their bottles, cans and glass. Most people just think they are above this method and stick their snotty nose up to anyone who recycles for money. Those are opinions I simply ignore. Over the course of an entire school year, I save anywhere from $75 to $100. Don’t knock it until you’ve tried it.

The most important part of the process is the collection of the recycling. I do not walk around the streets and sift through people’s garbage cans. Doing so is illegal and a great way to upset your neighbors. I save the recycling that I use at home. Some members of my family and friends give me their recycling, because they know I’ll make good use of what they are not recycling. Most of my collection is actually done in my classroom. The students drop off their empty bottles and cans in a bin that I take at the end of the week. Maybe other people around me are willing to throw away free money, but I’m not.

It is a slow process, but if you stay committed to your cause, then you will be rewarded for your consistency. Nickels add up very slowly, but they will add up. Collect your recycling, and bring it with you when you go grocery shopping. Before you leave the supermarket, make sure you turn in your deposit tickets at the designated cashier or customer service to receive your cash. When you get home, put the money inside a separate envelope, so you can track how much you save using this method.

I’ll be honest that it can be a bit dirty and expose you to some interesting characters. To avoid those issues, use gloves and don’t talk to anyone unless it is of vital importance. It’s not for everyone, but keep this in mind: If you think that the process of collecting and recycling bottles is disgusting, then you might want to reconsider that upcoming trip to Vietnam or other countries in Southeast Asia and the rest of the “third world” for that matter. It will be much less sanitary, and you will come across many more colorful locals than the recycling deposit center in your hometown. PLUS, good recycling practices benefit everyone on this planet you are saving up to travel.

# 6 – Decrease Dining & Delivery Spending

One of the easiest ways to save money is to cook your own meals at home. Try to limit food delivery services and eating out as often as possible. Getting lunch at a nearby eatery at work five times a week can seriously lower your bank account. Going out to eat at restaurants with friends and family multiple times a week/month will do the same thing. Having meals delivered to you at home on a regular basis can also deplete your funds. The solution to all of these situations is the same… Cook at home!

Cook your own meals. Although I am often cooking only for myself, I actually cook enough to make 4 meals. Typically, I cook one protein (using two different seasonings) and 2 types of vegetables. (I rarely make starches, but when I do I make 1 kind.) By doing this I have essentially made 4 different meals. Two of those meals are packaged and brought to work for lunch and the other two are for dinner. Doing this saves me money and will do the same for you.

Plan ahead, so there are extra meals that you can bring to work for lunch and at home for days you come home late. Time is often the main reason why you order food or stop at a fast food restaurant, and that will cut into your ability to save for your next vacation. Were all those burgers worth not seeing those pyramids you’ve been talking about for ages? On a final note, cooking your own meals where you control the portion sizes can also assist you in maintaining a weight loss program and/or live a healthier lifestyle over all.

Finally, there is the matter of eating out with friends and family. Before you go out to eat with your friends at the new hipster foodie spot, the ridiculously fancy Michelin star restaurant or even the diner, you may want to consider offering to host your friends at your own home splitting the cost of the meal among your group. Not everyone has the space to do this, but if you do then consider it an option. I have used two methods in the past. The first involves telling everyone what the menu is, how much it will cost and split the bill accordingly. The other option is to assign everyone a different part of the meal like you would for a pot luck dinner. Both methods will save everyone money and can make for just as great an evening as you would at a restaurant. The only real downside is the need to clean up afterwards, but if you cooked, then your guests can help clean up the mess everyone made.

# 5 – Savvy Food Shopping

You will begin to save money if you are cooking and eating at home on a more consistent basis, but there are many ways to save money when shopping for food and other products. Have a list before you go shopping to avoid filling your cart with unnecessary items. Using coupons and sale items are always an easy way to start decreasing your spending. If you do your homework, purchasing certain items at wholesale distributors like Costco is a much more efficient use of your money than the supermarket. For things you use regularly, buy in bulk when the option is available to you, and also look for sales. Make sure these items have a suitable shelf life. You’re not saving when you purchase 5 pounds of fresh broccoli on sale and end up throwing away 3 pounds of rotten food. Buy food items that are in season, as they are often cheaper than out of season products. Also look for cheaper substitutes. Do you really need chanterelle mushrooms, or can you substitute them with portabellas? These are only some of the ways I save money while shopping at the supermarket.

# 4 – Rent Out Available Space

A great way to save money is to earn money. One of my neighbors pays rent to park his motorcycle outside the front of my house. This is free income. The space is there and not being used. We negotiated a fair monthly rate, and he has been parking his motorcycle there for almost two years now. Over the course of a year that’s $480 in extra income that I would not be earning had I not offered him the space to rent.

Do you have the ability to do the same or something similar? Do you have an extra spot in your garage or driveway? Do you have extra closet space for a friend who is looking to rent a storage locker? Do you have a friend that is looking for an apartment? Have you ever considered a roommate or a tenant? You can potentially cut your rent and bills in half with a roommate. With a tenant you may even be in a position to profit or at least break even on your total monthly housing expenses.

# 3 – Have a Change Cup/Piggy Bank

There’s really not much to say about this money saving strategy. Find a big cup to deposit all of your pocket change. Be realistic, because that Poland Springs jug will take years to fill up if you insist on waiting until its brimming to the top with change. At the end of the day, toss all of your pocket change into the cup and forget about it. Don’t forget to add all of the money you found on the floor. The only time I ever take change out is when I know I am going to need to utilize public parking meters that don’t have the option to pay by credit card. That is quite rare. Otherwise, the cup slowly fills day by day. Over the course of my ten month school year I end up saving an average of $75 – $100 in loose change for my summer adventure.

# 2 – Family Plan Bill Paying

This is my top tip for stashing money and keeping it out of reach. There are number of bills that I pay that are on a family sharing plan. To be exact, there are three bills that are divided equally among family members, but all come in my name. Each month I pay the bills in their entirety and do not collect at the end of the month. Instead, my father receives the money from my aunt and puts their portion of the bills into an envelope. Just before my summer trip I will remind him to bring the contents of the envelope with him. Last year I was given roughly $1,000 in cash that was owed to me. This way the money is out of sight and out of mind, and seems like a windfall when I am paid what is owed. Only do this with trustworthy people who pay their bills.

I remember one instance where I needed some extra cash for a short weekend trip and asked my father for a portion of the money owed to me and was told “you said to only give you that money prior to leaving for Vietnam”. Well he was correct, because I definitely said that, and he stuck to his guns. I wasn’t complaining when I deposited $1,000 into my bank account the day before a 7 week trip to Asia. If you can save money, but end up spending it due to a lack of self-control, then giving it to someone you trust to hold for you (and can trust not to spend it) is a good idea.

# 1 – Envelope Method – Save a Small Amount of Money Everyday

I have seen a variety of money saving systems throughout my life. Some start out small like $1 a day and eventually require you to save more and more each day/week depending on the savings plan. Depending on your income, you might reach a point where you are saving so much that you end up struggling to live your daily life. Personally, if you are saving so much that your regular life is being hindered, then you should try to find an alternative money saving method. Try this: budget all of your monthly bills and expenses. Subtract your total expenses from your monthly income and determine how much extra money you have. Then you need to allocate a percentage of the remaining money that you want to save for travel. Divide your monthly savings goal by 30 (average days in a month) and you will determine the amount of money you need to put aside each day. (You may want to save for multiple reasons at the same time, requiring you to do additional math to divide your total savings into separate categories.) Don’t overdo it. Stick to the plan you established for yourself, and don’t reduce it unless completely necessary. You can always add more funds if you have extra money.

When you return home at the end of your day, put the allocated amount inside your travel savings envelope (or other envelopes if saving for multiple reasons). Don’t make it a habit of paying an entire week or month at a time. The money might not be there, and your savings plan gets thrown off. The less consistent you are, the more likely this method of saving will fail. Pay into your envelope each day and watch the money grow.

Last year I decided to save $2 a day for 10 months I wasn’t on the road full time. It didn’t scratch my monthly budget, but allowed me to save over $600 by the time I was ready for my next multi-week summer vacation. That was a sizable amount of pocket money for day trips, tours, meals, souvenirs and other incidentals. This year I have decided to save $3 a day, and this will save me over $900 before I begin my next summer adventure.

Conclusions

The use of all or a combination of my Top 10 Money Saving Tips makes the possibility of more frequent travel (or whatever you want to save for) a much more attainable goal. The more suggestions you take to heart and execute, the more money you will save. Try one, a few or all of my tips, and begin to watch your savings account grow, while not spending as much money on unnecessary purchases at supermarkets and many other businesses. Let’s look and see how I did last year, and I’ll let you be the judge.

At the completion of my last 10 month cycle I was able to save $1,103.72 using the envelope method, collecting my pocket change & money found on the floor, recycling and vehicle space rental. Additionally, I was given back just over $1000 for the total of the bills that I paid under the family plans that was still owed to me. Finally, I was able to save an estimated $500 on water and coffee, as well as an additional $500 on smarter food shopping and eating at home. If you add all of that up, I was able to essentially keep over $1,000 in my pocket, stash another $1,000 out of my reach and eliminate approximately $1,000 in superfluous spending. How do you think I did? I’d say that is a win-win-win situation! Stay Frugal & Happy Trekking!

A Word From My Editor

My editor wanted to point out that the best way to save money is to eliminate vices. Cigarettes are not only unhealthy, but you’re money is literally going up in smoke. If you do buy them then shop duty free unless they are cheaper in the country you are visiting. Then there is alcohol. Bars can be very expensive places so consider other options if you are unwilling to cut out all drinking. Stay home and invite friends over for a get together. It will be much cheaper than going out. Finally, there is gambling. Sure you can win, but the law of averages says you will lose. Las Vegas didn’t build itself! Tourists did, betting tourists more so than anyone else! Easier said than done for most as the photo above indicates, but moderating these bad habits will add years to your life and thousands of dollars for more virtuous pursuits!