One of the best things about studying in a foreign country is that everything around you is new and exciting, making every day seem like a mini-vacation. To make the most of their time abroad, many international students decide to travel during their time off from school. If you are one of those students, then you might be wondering how to budget so that you can travel for winter break.
Set Incremental Goals
One of the single best tips on how to budget so that you can travel for winter break is to set incremental savings goals. This way you can make sure you are on track to saving the amount you need by winter. These goals should be set up as weekly or monthly dollar amounts that, if met, will result in you having enough money when winter break comes.
See What Your Bank Can Do to Help
Most banks have savings programs to help you save money, so if you’re trying to decide how to budget so that you can travel for winter break, you should check online or ask in person at your bank to see what is offered. For example, some banks will transfer whatever change is left over from a debit card transaction and automatically put it into your savings. If you use your debit card a lot, the occasional 25 and 50 cents being put into to your savings account can really add up in the long run. Other banks have a way to automatically move a set amount from your savings to your checking every month. This method is a great way to make sure you are keeping up with your monthly goals!
Remember What You Are Saving For
Sometimes, after saving for a while, it can be tempting to dip into your money and buy something expensive for yourself. You might tell yourself that you’ll make up for it by saving more in the future or that you deserve to cheat a little. This is because people are good at tricking themselves into spending money, and you should definitely avoid this pitfall if you plan on traveling over the winter. Whenever your temptation to spend some of your savings rises, visualize how amazing your winter trip is going to be and let that image keep you in line and on budget.
There are many other methods on how to budget so that you can travel for winter break, and in the end some will work for you more than others. The best thing to do is to try out several savings methods and seeing what works for you the best!
* Picture of male hand putting a coin into piggy bank courtesy of Shutterstock