The Outdoors Blog

Save Big Money for Any Trip

April 4, 2016 by · Leave a Comment 

By Samuel Phineas Upham

If you’re planning a trip to another country, you’ll need substantial savings to cover the time you’ll spend there. You’ll need to cover your necessities while you’re away from home, like food and board, but you’ll also need to cover expenses for the time you’re gone too. Read on for money-saving tips you can use to prep a budget worthy of your next trip.

Interest Savings

The importance of an interest savings account cannot be overstated. If you’re banking without an interest savings account, you’re leaving money on the table. As of this writing, most interest-bearing accounts are around 1%, but it’s better than nothing or fees to hold money if you’re below a certain amount.

Cut Back

We’ve all heard of the Starbucks problem, but you don’t have to eliminate it entirely. If you brewed your own coffee at home and only bought lunch at work, let’s say, you’d already save a few hundred dollars each year you could apply to your travel budget.

Sell Off

If you have old furniture, clothing or electronics lying around, post the items on Craigslist or eBay to sell. You can easily get a few hundred in quick cash depending on what you’d be willing to part with.

Get a Job

Not your full time job, look for opportunities online. Can you write, design graphics or provide some form of consulting? You might be able to pick up gigs on Fiverr or Craigslist if you have the right resume. The extra bump in pay means more you can see or do, so it’s worth it to try.

About the Author: Samuel Phineas Upham is an investor at a family office/ hedgefund, where he focuses on special situation illiquid investing. Before this position, Phin Upham was working at Morgan Stanley in the Media and Telecom group. You may contact Phin on his Samuel Phineas Upham website or LinkedIn.

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