7 Creative Ways To Fund Travel Without a Side Hustle
How to save vacation money and fund travel adventures. Making extra money is a popular way people can afford to travel, but not everyone has the ability to side hustle or even wants to. Maybe you are a caretaker with limited time, or you’re facing health challenges. Perhaps you’re in graduate school and have a demanding schedule, or you’re expecting and need time to rest. There are a lot of life circumstances that make side hustles not a good option. You cannot always depend on your ability to make extra money outside of your traditional line of work. Nevertheless, that doesn’t necessarily rule out your ability to save money and travel. Here are seven creative ways to save money for travel without the need for a side hustle, whether you’re planning a road trip, cruise, or an epic honeymoon.
Continue reading or listen to this podcast episode here.
Listen on Apple Podcasts | Spotify | Amazon Music | Pandora | Any player
This post may contain affiliate links. I may receive a small commission, which helps support my work.
Before we get started, this podcast episode is Part II of the Vacation Fund Series, a comprehensive guide to saving for your dream vacation. If you haven’t already, I encourage you to listen to episode 167, where I break down my top vacation fund do’s.
How To Fund Travel Without Side Hustles
Are you dreaming of your next vacation but don’t have the time or desire to take on a side hustle to fund it? Try these ideas!
1. Saving Challenges
Saving challenges is a fun and creative way to kickstart your savings routine. They break down the saving process into manageable steps, making it more fun and attainable. One example is the “100 Envelope Challenge,” where you save a specific amount each day in labeled envelopes, culminating in a significant sum by the end of the challenge. Click here for my list of fun, must-try savings challenges.
2. Savings Account Welcome Bonuses
Banks often offer incentives for opening a checking or savings account with them. By meeting certain deposit and balance requirements, you can earn one-time cash bonuses that can boost your vacation fund.
For example, at one point, Wells Fargo offered a $525 bonus for new customers who meet specific criteria.
When you open a new Ally Bank Savings account for a limited time, earn a $100 welcome bonus!
Always read the terms and conditions to ensure you can meet the requirements and follow the enrollment instructions step-by-step. Check your mail and email for offers.
3. Tax Refunds
If you receive a tax refund, consider allocating a portion or all of it toward your vacation fund. Do not let that money slip through your fingertips. Have a well-thought-out-plan for your money by determining where you want it to go before you receive the funds. Tax refunds can help you save money for your next vacation and make the most of unexpected windfall money.
4. Credit Card Sign-Up Bonuses
Credit card sign-up bonuses are a popular way for new cardholders to earn extra rewards. By meeting minimum spending requirements within a set timeframe, you can earn cash back, points, or miles that can be used toward travel expenses. For example, the Capital One Venture Card offers a one-time bonus of 75,000 miles when you spend a certain amount within the first few months. It’s that simple and can significantly boost your travel fund. I love this credit card because it’s simple to use. Don’t worry about complicated bonus categories, like with many other credit cards.
5. Work Bonuses
If you receive annual bonuses or raises at work, consider earmarking a portion of these windfall funds towards your vacation savings. Planning ahead and setting aside a bonus check can help you reach your travel goals faster.
Tired of reading? Listen to this podcast episode on Spotify.
6. Work Overtime Hours
Are you eligible for overtime work hours? If so, can you pick up extra shifts to earn extra cash?
Stephanie Perry used this strategy to save $14,000 to afford an around-the-world trip at the age of 41. During her adult gap year, she traveled to 12 countries in 12 months.
Read or listen to this podcast episode to learn how to take a career break on a budget.
7. Cashback
With cashback websites like Rakuten, earning money on your online and in-store purchases is a breeze. By shopping through Rakuten’s platform, you can earn money back at thousands of retailers, including popular stores like Macy’s and Walmart. The cashback earned can be deposited directly into your vacation fund, requiring minimal effort on your part. One of the things I appreciate about Rakuten is how easy it is to use: visit their website, use the app or browser extension. Whenever shopping online, a popup appears with a Rakuten cashback offer. Click to activate. It’s a simple and convenient way to save for your next adventure.
If you want to save on everyday purchases, listen to this podcast episode to learn how you can earn hundreds of dollars in cashback with Rakuten.
Read Next: How To Earn Cashback with Rakuten
In summary, by implementing these creative money-saving strategies, you can fund your next vacation without needing a side hustle. Whether you’re saving through savings challenges, leveraging bonuses at work, or earning cashback on purchases, there are plenty of ways to make your travel dreams a reality. Start implementing these tactics today and watch your vacation fund grow!
Other Content You’ll Enjoy
How To Start a Travel Fund (And Why You Need One) – Episode 2
Easy Ways To Earn Thousands of Points and Miles a Year – Episode 123
6 Travel Hacking Mistakes To Avoid – Episode 94
What is the best way to save for travel?
Taking a multifaceted approach to saving is the best way to save money for a vacation. In addition to the strategies mentioned above, open up a travel fund, a dedicated bank account solely for travel expenses, and save for travel regularly. Save a portion of your income automatically with each pay period through automation. Yes, set it, forget it, and watch it grow! Lastly, adopt the mindset that travel is a recurring bill and a part of your lifestyle. Soon, you’ll have the funds available for your next vacation when needed.
Learn more about my process for how to save for a vacation by reading my book, Affording Travel: Saving Strategies For Financially Savvy Travelers.
Danielle Desir Corbett is an award-winning and 6x grant-funded travel writer and podcast host who went from financial struggle to visiting 27+ countries all without waiting until retirement. Her story is proof that budget doesn’t limit adventure. Tune into The Thought Card Podcast for practical strategies to travel smarter and live on your terms. Say hello: thethoughtcard (at) gmail (dot) com.
Leave a Reply
Want to join the discussion?Feel free to contribute!