5 Easy Steps To Save For Your Next Adventure

Have big dreams of travelling the world? Want to step foot in every country? Have plans to backpack South-East Asia? Inter-rail across Europe? Have all these grand plans but no idea where to start saving for your next adventure? This is the post for you!

Here’s a simple five step process to save for your next adventure…

Do your research

The first step before you can save, like with anything, is the research phase. Research where you want to go, how long for and then infer from this how much you reckon you’ll need to cover the adventure. Blogs and vlogs are a great (and free!) resources to start your research!

Know your numbers

Once you’ve done your research, the next step is knowing your own numbers to know if this adventure is possible. Say you really really want to go to the Maldives and stay in one of those amazing over water villas and estimate it’ll cost about £20,000 to have the trip of a lifetime. But you can only realistically save £200 per month. That’s 100 months of saving to hit that goal. Over 8 years. Maybe you’re fine with this, maybe you’re not and it’s time to head back to the research phase. Get real with your numbers.

Set the goal

So now you know what adventure you want to have and have gotten real with your numbers, you can officially set your goal. To make sure it’s a SMART goal, you need a specific amount with a specific timeframe for a specific reason. Eg. save £2000 in 8 months for a 6-week trip in Thailand. You are more likely to smash this goal than if you were to say “I want to save for travel”.

Create a savings plan

Are you going to do a money challenge, cut your expenses down, increase your income, redirect your normal monthly savings or something else? Create a savings plan to plot out how you are going to hit your savings goal in the required time frame.

Find a specific place to keep the money

Letting the money just sit in your day-to-day current account is one way to blow through it without realising. Set up a new place to keep the money that is far away from anywhere it can be tempting. Whether that’s a brand new savings account or another pot within a savings account you already have. Set it up intentionally to save the money for this goal. A lot of savings accounts or pots will even let you give the space a nickname.

Then it’s time to get saving & enjoy your next adventure!