You can travel with debt, but taking steps to reduce your debt before traveling is advisable. Loan consolidation makes a lot of sense, and could save you enough capital for a trip over time. Generally, when you’ve got any debt, your best strategy to liberate yourself will be to live beneath your means until the cost has been overcome.
For example: say you make $2,000 a month. $800 goes to rent and utilities, $200 goes to gasoline, $500 goes to food. What do you do with that additional $500? Do you spend it, or save it? Well, if you’re living beneath your means, you save it. That, or you put it toward paying off any debt you owe.
Something you additionally want to do is find ways to cut down on regular bills. For example, if you’re paying $200 a month in gas, but you only live two miles from where you work, and this is your primary reason for driving, see if you can cut that number in half. A 250-mile tank can make 125 two-mile trips or 62.5 consecutive work-days.
If you’re only working 20 days a month, then you can make it to and from work and still have 80+ miles left over for whatever you like. If you’ve got a conventional car, a tank is only around $50. So, if you can cut down your time spent driving, you can preserve the lifespan of your vehicle while reducing your monthly expenses, allowing you to either save money or pay off debt with greater expedience.
Certainly, this is easier said than done. Once you’ve established the non-negotiables of your budget, it’s time to see what you’ve got leftover and what you can do with it. Even if you have relatively little, proper planning can help you attain necessary capital for a vacation.
If after you streamline your budget, you can only add an extra $200 to your expendable income, that is still $2,400 in a year; or enough for a pretty decent vacation.
Avoiding Creature Comforts:
Still, this is a fairly ideal circumstance, and cutting down your monthly expenditures in terms of food and gas can be difficult. So, you must find ways that you can eliminate discretionary spending. You may be surprised at how many unnecessary things you buy. Don’t think about creature comforts, think about living at a bare minimum.
For $100, you can eat well for a month as an individual, should you be careful enough in purchasing and preparing your own meals. You can combine such a budget with EBT or food bank sustenance to increase the amount of food you have access to. You can additionally seek options beyond your income to help you acquire what you need.
You may be surprised to find what you actually qualify for, especially if you’re a low-income family, there may be support solutions out there for you. Here’s the AUS Benefits website; it can help you to see if you’re eligible for financial assistance in certain areas of life. Sometimes, this can come in the form of direct support or tax breaks.
Something else that can help you save money is where you choose to travel. You don’t have to stay in the highest dollar accommodations available. You may look for friends, relatives, or look for special offers such as these. There are also after-market type hotel situations which, though perhaps not ideal, can save you a few hundred dollars.
Although travel is a luxury, it can be more attainable with the above tips!
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