Published on February 25th, 2012 | by Randomguru2
4 Tips To Live More Frugally and Save for Travel
1. Lower Your Health Insurance Costs
A quick glance on CNN Health will feature the latest new advancements in modern medicine and medical technology, though it’s a fact that Americans aren’t getting the adequate healthcare and health insurance they need. Or, they simply are going without it, especially if they are self-employed or contract workers.
The internet is a vast resource of wealth and information, where one can get free quotes by simply searching for the best health insurance to fit one’s needs and budget. Whether it’s small group health for employers and employees, or self employed group health for freelancers and small business owners, the options are out there and affordable. Like anything else, you just have to do your shopping.
With the extra monthly savings, you can set that money aside by adding it to a personal travel fund.
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2. Lower Your Auto Insurance Costs
Many people in America drive cars to get around. And with that people need to have auto insurance. Well, if you haven’t done so already you might want to re-evaluate your auto insurance and search for free quotes online to lower your auto insurance. This is another valuable step in saving money each month so that you can set it aside for something else, like travel expenses. Just search around the web to find the lowest rates with the best value, and make that change.
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3. Cut Up Those Credit Cards!
I myself learned the hard way. I had a few credit cards when I was younger and really racked up the credit card debt and got myself into some financial difficulties. I learned the hard way, but… at least I learned. And today I no longer have credit card debt! So that is the one thing I recommend to everyone. Really, get rid of ALL the credit cards! Every last one!
If you have credit card debt you must realize now that it’s a losing situation. Even if you originally got your credit cards with a low interest rate, eventually they’ll quickly go up and the finance charges will be hard to manage unless you really are paying off your credit cards each month. Some people say they are disciplined, but how many of you truly are? I thought I was, and from what I’ve seen out there, only one or two people who were that disciplined. The majority have run into some major credit card debt. So, if you are young, please learn from my mistake. Just use a check/debt card for puchases, and if you don’t have the money don’t buy it. At least don’t put it on a credit card and put yourself into some major debt.
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3. Start A Travel Fund
I’m sure many of you are searching for the holy grail of saving more money and setting aside some of that hard earned cash for traveling.
Yes, you read that correctly. Setting aside money for travel, and not retirement like what should be the main priority. Hopefully, you already have a 401K and other investments in place that contribute toward your retirement, but at the same time you should put some of your earnings away for travel.
But consider this:
- Will you be healthy enough to do all that traveling AFTER you retire?
- And, realistically speaking, how much time will you have to travel in your old age?
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Saving Money To Travel
The reality is you need to do some traveling now while you are physically able to, and not wait until you are in your 60s, 70s and older to do MOST of your traveling in your lifetime. Unless, of course, you retire early or have a job that is flexible, pays well and allows you to travel.
- 1. Lower your health insurance costs in order to lower that monthly premium, which will allow you to save a little more money.
- 2. Lower your auto insurance costs by shopping around and getting free quotes, thus also lowering your monthly premium and saving the difference.
- 3. Cut up all your credit cards. They are going to keep you in debt and prevent you from truly saving money.
- 4. Set up a travel fund in a high yield account that will allow you to save specifically for travel expenses.
These are simples tips, but it takes some dedication and discipline to actually do them. And if you are like me, seemingly overwhelmed by monthly expenses and past credit card debt, this is a good start in order to free up some money for vacations and travel time, something we ALL could use every-once-in-a-while.