Step-By-Step Guide To Save Money For Travel In 2026

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Disclaimer no. 2: I am not a financial advisor. These are the tips that helped me to save money to travel in my circumstances. If you need help with your finances, please consult a professional.

Step-by-step Guide to Save Money to Travel

So, what is the best way to save money to travel?

These techniques worked for me when I was wondering how to save money for travel as a student and when I started working.

1. Audit your finances before you start saving money

First things first, you have to audit your financial situation.

This step will be different for everybody because we all live different lives. Some might have student loan debt, and some might be well off in the middle of their career without any debt. Where are you?

2. Figure out exactly how much money and the debt you have

In this step, we will see exactly how much money we have right now.

Check all your accounts to see how much money is hiding there. After that, check all your debt, how are you paying it off?

Now we know what we start with, write down that number.

3. Determine your monthly income

The next step is to determine how much money are you making each month. If you have a job, how much are you paid? Do you have any side hustles? 

Write down your monthly income to be clear on how much money can you expect to gain in the period preceding your trip. 

If you do not have a regular source of income, take an average of how much you could make based on what you were making in the previous months. 

4. Follow your spending for one month

Each month you spend money on various expenses – necessary and unnecessary, and the small expenses here and there add up!

Do you know what are you spending your money on? If you don’t, it is time to find out. 

Write down every expense you make throughout this month. If you pay for everything by card, it is easier as you can go back and check the previous month.

5. Figure out the categories you’re spending on

If you are serious about saving money for travel, you need to know where your money goes. 

You can write it down on a piece of paper or create a simple spreadsheet – Categorize your expenses!

This will be different for everybody. Some general categories you can use are rent, utilities, groceries, car-related expenses, eating out, going out, shopping…

Put every expense in its designated category. 

We will have three big categories: living expenses (rent, utilities, car), groceries and fun.

Everything that is not essential goes into fun at this point. You can also put a star next to an expense that, in retrospect, was unnecessary. 

Now we know how much money you spend on each of those categories. This will be important in a later step when we will see where you can save money. 

6. Calculate How Much Money You Need To Travel

By now, we know how much money you have and how much you are earning, spending, and saving.

Next, we need to determine how much money you realistically need to travel.

The answer will depend on your trip. It can cost you anywhere from 15€ a day in SE Asia to 60€ a day in Europe, even if you are backpacking on a budget!

If you are planning your first solo backpacking trip and don’t know how to budget, ask yourself these questions:

How long are you traveling for? Is it going to be a two-week trip or a 6-month solo backpacking adventure?

Depending on your answer, your strategy will have to differ. 

Why is this important?

You obviously don’t need the same amount of money for one week in Poland, and for a 6-month backpacking Europe in summer trip.

For a shorter trip, you will probably use your PTO and come back to work. For a 6-month backpacking trip, you might need to quit your job, or you’re an unemployed student, to begin with!

7. Compare your current situation with your goal

Now that you have a clear picture of your financial situation and know how much your trip will cost, ask yourself: Can you seamlessly fit this trip into your current budget, or do you need to make adjustments to save for travel?

If you are satisfied with how much money you have left at the end of the month, and that amount can easily cover your trip, then great!

You have figured out that you can afford to travel and the only thing you need to do is allocate the money to a designated trip savings account. 

If our financial audit uncovered that you spend more money than you make, or that you do not have any money left at the end of the month, then we have to come up with a plan. 

8. Make travel a priority

We are going back to your budget categories. Inspect how much you are spending in each category.

How many of your expenses have a star next to them, indicating that they were unnecessary expenses? 

Cutting out small expenses is how to save money for vacation fast!

Here are some of the best experiences that should be on your Europe bucket list, to motivate you to save money!

9. Cut your living expenses – rent

Your biggest expense will probably be the rent. Can you save any money there?

Maybe you can move in with your parents. I know it might not sound like the most adult thing to do, but if your parents let you live at home you could be saving so much money. 

If you can not move back home, can you make your rent lower by living with a roommate? Can you move to a cheaper neighbourhood?

Sometimes we get used to a certain lifestyle that might not be a right fit for the phase of life we are in.

Do not be too proud to admit that you should not pay for a 2-room apartment to live by yourself. 

10. Save on utilities

If you are already spending as little money as possible on rent, let’s go over your utilities.

Some utilities we cannot control, while others we can. Nowadays, utility prices are going crazy, so think of where you’re spending more than you have to.

Are you making sure you are not wasting water and electricity?

Turn off the lights when you leave the room, don’t overheat your apartment to the point you’re walking in shorts in December, and take shorter showers.

Not only that it is good for your budget, but it is also good for the environment. 

11. Use public transport or walk instead of driving

Do you have any car-related expenses? Do you even need a car? Re-evaluate.

Gas prices are higher than ever, so using public transport will save you money. Alternatively, walking is completely free!

12. Be smart about your groceries

How much money are you spending on groceries each month? Are you using up everything you buy?

Using up all of your groceries is more sustainable and environmentally friendly. Also, you are not wasting money on the food you throw out in the end.

Make a meal plan and make sure you do not throw out your food again. 

Once you are using all the food you buy, go through what you buy and when.

Most supermarkets have weekly offers, coordinate your meal plan with the weekly offers to make sure you are paying less for the food you are buying.

You do not have to live on rice and beans, but just be aware of your spending habits.

As a vegan, I treat myself to vegan cakes and vegan burgers that are not cheap, but the crucial word is – treat. If I’m trying to save money to travel more, it’s not an everyday occurrence.

13. What fun expenses do you actually need?

Finally, we tackle the big “Fun” category. It is the non-essential, small items that eat away at your salary.

In your everyday life, it is just 5-10€ here and there, but once you calculate them, the amount might surprise you.

14. Limit your subscriptions to save money to travel

Go through your subscriptions, do you even use all of them?

Do you need Spotify premium, or can you listen to a couple of commercials with the free version? Do you need both Netflix and Disney+?

Cut out subscriptions while you are trying to save money, they are a luxury, so start treating them that way. 

15. Pack your lunch for school or work

There are not that many things that I feel this strongly about, but please, pack your lunch.

Every day I see people buying a 8€ box of pasta, a 6€ sandwich or a 12€ salad. It is not even a nutritious meal most of the time.

If you just pack your dinner leftovers or make a quick sandwich or a wrap in the morning, you could be saving at least 100€ each month!

16. Make your own morning coffee/tea

Speciality coffee is one of those overrated treats. We all love a nice warm beverage from our local coffee shop.

However, for the price of one coffee or tea, you could be having it for 2 weeks if you just make it yourself at home. I know it might not taste the same, but we are on a budget here!

17. No takeaway – ever

It is off-limits. You will be eating out all the time while you travel. Cook your meals while you are still at home. 

18. Limit eating out

I am separating these two because there is a social aspect to eating out.

If your friends tend to socialize over dinner now and again, you should join.

You do not need to neglect your social life just to save money to travel. However, limit it to maybe once a month, and other times, suggest you make a meal at home!

19. Rethink drinking and nights out

If you are still at the age when nights out every week seem like something you cannot miss out on, you will have to change how you approach them.

I will not tell you to stop drinking, but alcohol is expensive in bars and clubs. Instead, suggest pre-drinks to your friends.

You can buy an entire bottle to share in a supermarket for the price of one drink in a club!

On the other hand, if clubbing is not your thing and you meet up with your friends in a bar for Friday drinks – go for a cheaper drink, and stop at one.

20. Snacks and water bottles on the go

We do not make good decisions when we are hungry. To avoid buying that overpriced croissant in a bakery, have an energy bar or a piece of fruit in your bag.

The same goes for buying bottles of water. Take your reusable water bottle with you everywhere. It saves the planet and your money. 

21. Limit clothes shopping

You probably have enough clothes already. Take care of the clothes you already have and find a new way to style them.

Of course, if something needs to be replaced you should do it, but be sure it is a necessity.

22. Rethink socializing that involves spending money

If you’re wondering how to save money and have a social life, it is still possible.

If you notice that you spend most of your money on socializing, consider changing the way you spend time with your friends.

Instead of grabbing a coffee together, suggest going for a walk with a drink you will make at home.

Instead of having an expensive brunch on Sunday, suggest having a picnic in the park with the things you bought in the supermarket.

Watch a movie on Netflix ( on your friend’s account, as you already cancelled your subscription in step 14) with your friends instead of going to the cinema.

It will be significantly cheaper, and you will not miss out on socializing.

23. If nothing else works, make more money!

If you read all my tips and you are now thinking: “Natali, I am already doing everything you suggest, but I still can not afford to travel!” I know how you feel.

I was doing everything I wrote above, but my salary did not allow for almost any savings. When I paid for all of my expenses I could not save any money to travel.

The only thing you can do now is to make more money. 

Sometimes, we save as much as possible, but we still can not reach our goals. There might be different reasons.

Maybe we are not paid enough, and we have a lot of expenses we can not cut because they fulfil our basic needs.

You can try to find a better-paying job or pick up a second job. 

The idea of having a second job is perceived differently in different countries. Also, the legislation on having a second job differs. Find out if that would be an option for you.

I am not saying it will be easy, it will require some sacrifice. Of your free time to begin with. But, if you want to make travel your priority, it will be worth it!