By MICHELLE THOMPSON
Converged Media Manager
While planning to go on vacation, one should plan his or her trip, book a hotel, start packing, but one thing may be stuck on his or her mind mind: money. How should he or she save money for traveling?
According to Assistant Professor of Business, Robert Perrella, students should be mindful of what they spend. Keep a list of products and services spent in one month. By the end of that month, one will have a better idea of how much money is being spent and what cutbacks to make.
Perella also recommends to always keeping a budget in order to save enough money to travel. Try to earn more and spend less.
Consider going out less. This includes hanging out with friends, eating at restaurants and going to the movies.
Cook at home, invite friends over and watch a movie or Netflix. It will help avoid spending at least $20 to $30 every time you go out. Limit to going out to twice a month or once a week.
When eating at a restaurant, drink water instead of soda and alcoholic beverages.
Not only will this help one stay healthy, it will help save money at the same time.
Another way to help make money is to make jewelry, draw or paint, design clothes or create different D.I.Y projects and sell them online.
Websites like www.esty.com are good places to sell homemade products and earn some extra money.
Selling old clothes at consignment stores and unused items at a flea market can also earn money.
Perrella mentioned a method that requires one to never spend a $5 bill. Anytime one receives a $5 bill from change, he or she should put it away in an envelope or a piggy bank. By continuously doing this, the $5 will add up and will be enough for traveling.
However, for students who like to use debit and credit cards, don’t worry, it can also be a good thing.
Reward points in travel miles or cash back can be in place if bills are paid on time.
But, be careful, it is easy to spend lots of money with a credit card than with cash.
Perrella also urges students to try saving extra money as an emergency fund.
One might feel he or she already has enough money for the trip, but if a wallet becomes lost, the extra bit of money for a taxi ride back to the hotel and to get help will come in handy.
This will also help to have money for emergencies at home.
When planning to save a seat in a plane or train, purchase the tickets as soon as possible.
The earlier the ticket is purchased, the cheaper the ticket will be. Also, consider flying connecting flights. They are normally cheaper than a single destination flight.
Also, travel light. Try to bring less stuff on the plane to avoid having to pay $25 or more for a second checked bag.
Save money sooner rather than later.
When traveling to foreign places for the first time, it’s smart to start saving as much as possible.
When wanting to learn more about saving money for traveling, for an education, for retirement, etc. look online for websites that can offer advice and recommendations on saving money.
Perrella mentioned searching online for Dave Ramsey, Clark Howard and feedthepig.org.
Perrella also mentioned that each website will help give more tips on how to save money, how to get out of debt, learn about credit score information and more.