Best way to save money for a trip?
Need to save $3000 for a trip in about 5 or 6 years. And we'd also like to buy a cheap R.V plus the $3000. I can't do like a fundraiser or anything because it's a personal trip, so...
- Anonymous4 years agoFavorite Answer
Start cutting expenses now and putting that money into savings. Stop eating out, cut cable, get rid of Internet, etc. To save $3,000 in five years, you need to save a little less than $100 a month. Be ware that even a cheap RV can cost $10,000+. That greatly effects your budget.
- loanmasteroneLv 74 years ago
In order to be successful in any financial situation, you would need to make a budget and stick to it. this is not
a difficult thing to do. This require a lot of determination on your part, in order for you to be successful
Jot down the what you are required to pay such as rent, utilities, transportation, insurance (health, auto and renters or mortgage) food, entertainment and all auto loans and credit card debts you are required to pay.
Hopefully you would have money left after you have prepared your budget. Whatever is left is the beginning wher you would start saving for your trip and the purchase of the RV.
You would want to take the years and divide them into years so you would have an idea as to how much you would need to save each month. It appears as if you would have 60 months for 5 years or 72 for 6 years
In preparing your budget you find that you do not have a sufficient amount to have the results you want you would need to make a decision to pay some of your debts off an direct these moneys to your savings for the trip and the purchase of the RV.
Normally if you are properly saving and would have good financial plan this would not present a problem to you, as you would have this .amount already saved.
I hope this has been of some benefit to you, good luck.
- TowandaLv 74 years ago
I have a couple of checking accounts and one is for a rental duplex I have. Often I end up breaking even and feeling lucky then. I've had lots of tenant problems. Out of this account I have many little accounts and I subtract out of the main balance for these accounts and hold the amounts separate. Besides accounts for taxes and insurance and repairs and simple maintenance, I have always had an account for vacation. I put in a little but always something and finally it is getting there. I wanted to go to Scotland but I'm meeting a friend in San Antonio and we're driving up to Austin and then down through the hill country...looking for a great float on the frio. It will just be fun to be away from all the local hassles for a bit. You have to start putting away a bit way before you decide to take the big vacation and have a balance to start with and then it doesn't seem like too much. I'm sure my credit card will take a beating too.
- How do you think about the answers? You can sign in to vote the answer.
- BobLv 74 years ago
Take 10% of every paycheck or any amount of money you receive and put it in a savings account. That is how you save money
- 4 years ago
Good question, and great forethought! Hope you don't mind, but this inspired me so much I'm going to write a post on it for one of my sites too. (In fact I just did).
I see this two ways.
1) You need $6,000 in 5 years (conservatively).
5 Years is 60 months. So start putting aside into savings account $100 per month, and you'll have $6,000 in 5 years. Your bank will set it up to auto transfer, or you could do it manually.
That's without earning interest. You could also put that $100 into the savings until you hit $1,000. Every time you hit $1,000 put that into a CD (something's better than nothing with interest). Make sure that CD matures on or before you GO date. So the first $1,000 will be ten months from now. That CD will need to mature in 4.5 years. The second will need to mature in 3 years, etc. etc.
2) You actually CAN crowd fund this.
There's a lot of ways, friends, family, church, donations... but here's another way.
2.a) Set up a free blog at Blogger.com.
Make it all about this trip and/or travel in general. Put together a Start Here page describing the trip you want to go on, when, where, why, and tell us that this blog is your journal for planning the trip. Tell us if we help you take it, we can come along too (via pitctures, posts, even live events with Skype or Periscope).
You could set up a proper domain (MyTrip.Com) for $10-12 per year; or, just leave it with the default domain MyTrip.Blogspot.com. Either way.
Domain.Com (Affiliate Link)
Blogger with Customer Domain (Article)
2.b) Put together a guide for travelers.
Call it "The Top 10 things you need to consider when traveling to..." Just use a Word Doc to put it together, make it pretty, and turn it into a PDF.
Gumroard let's you choose a Name Your Price option: Use Gumroad to upload the PDF. Link the Gumroad set up to your blog. Then tell people they can help you take the trip by purchasing your guide for $1 or more.
When the time gets close, you can set up a GoFundMe page, and get the momentum going faster.
Go Fund Me: (HERE)
2.c) In the 4.9 years leading up to your Go Date, write to us.
Tell us about your trip. Why you want to go. What you hope to see. Read articles on other sites, research for your trip, and tell us what you learned getting ready for it. Remind us every so often you only have x days/months/years left to go.
It doesn't have to be daily. You could post weekly, monthly, as often as you research for your trip. It'll help you keep the vision alive, and help us be excited with you.
2.d) Get our email address, and remind us about the trip by posting new stuff every so often.
Use the Gadget's tool to make sure you add an Email follow option to the blog. That way we'll get an update every time you post.
You could probably set all of this up before you go to bed tonight, and start.
If you do this, email Me@DarrellWolfe.com if you do this. I'll become your first follower, and maybe you'll be taking your trip before five years.
Go Fund Me:https://www.gofundme.com/
Savings and Interest: http://bankingbasicsforbelievers.blogspot.com/2016...
Setting up a domain on Blogger:
Buying a domain:
I DID write that article after all:
- 4 years ago
Always spend your money wisely on things you NEED not things you WANT.
- luisa l hiLv 44 years ago
IS VERY SAD,BUT YOU ARE THE PEOPLE WHO SPEND THE GOOD TIMES IN MEXICO IN THE PAST.
- 4 years ago
no pointless spending