No savings account but you still want to travel? Then you are probably wondering how hard is it to travel without savings. Plus how much money do you need to travel? As a fulltime traveler without a travel savings account, I feel in a pretty good position to answer these questions.
When I decided that I wanted to hit the road and start a new life as a Digital Nomad there was one thing that kept me awake at night. How can I travel without savings?
I had no savings. NADA. In fact, I didn’t even have a travel savings account!
But in 2016 did it! I packed my backpack and hit the road.
How hard is it to travel without savings?
It’s not easy but if you want it enough I’m going to share a few ways you can still travel without a large savings account.
Put Yourself Under Pressure
First things first, most people work better under pressure or if they have a set goal to work towards… so pick a date you want to leave, if you can book a flight, you are going to need at least 3 months to save money ideally.
You are going to need a Buffer
Start creating a buffer. You may have no travel savings right now, but you are going to need a buffer, at least a few hundred £ or $ for emergencies, and to fall back on. It needs to be at least enough for you to survive for a few weeks or for a flight home. I have done a whole post on How to Save for Traveling here that you should read and follow too.
Here are a few things to think about so you can get some quick cash together as a buffer:
- Open a travel savings account, if like me you aren’t that good with money, ask someone trustworthy to keep the money for you. I gave money to my dad.
- Start selling your stuff! You aren’t going to need it where you’re going. So if it has no sentimental value and it’s not going to fit in your backpack then sell it! Be ruthless, and put every penny into your travel savings fund.
- Look for a second job. If you can find some temp or casual work for a few months then this is a great idea. Because you have your flight booked you know it’s only temporary so you will be able to see the light at the end of the tunnel, making all of the extra hours totally worth it! Keep all of the money you make in your savings account.
This money you make is for emergencies. It doesn’t need to be a huge amount but $200-$500 in your travel fund can make a huge difference if you get really stuck. Keep it in an account you can easily access in an emergency.
I actually wrote a whole post full of ideas for saving money that you can read here.
How to make money while you travel
Now you have some emergency cash in your travel fund jar, you need to think about how you are going to make money while traveling! Below I have listed some of the main ways you can travel without having to spend very much money. I’m not going to go too deep into this here as I have written a whole post on trying to find a job abroad which goes into a lot of detail. You can take a read of it here but briefly:
Become a Digital Nomad
Volunteering/ Work Exchange
This is what I mostly do as well as my Digital Nomad work. I’ve used workpackers as well as contacting people to offer my services in exchange for something that I want from them.
For example, I’ve exchanged my services as a photographer for yoga classes or managed someone’s Instagram for accommodation. There are always hostels looking for volunteers to work at their desk in exchange for accommodation and even meals sometimes.
Finding a Paid Job Abroad
Obviously, finding a paid job abroad is the ideal situation. The downside to this would be most companies need people to commit to at least 3-6 months so if you don’t want to stay in one place to work abroad for that long this may not be the solution for you.
Is traveling without savings easy?
No traveling without savings is NOT easy, but it is also not impossible.
To be clear traveling without a big savings account is difficult.
You will have to make sacrifices.
You will likely have to skip expensive trips, do a few jobs you don’t like, take long bus journeys instead of flying and you will probably get more than a few stomach bugs from eating street food!
BUT you will meet some pretty amazing people, do some amazing jobs and because you might stay for longer in one place you will get to experience living and working in that place, rather than just passing through ticking places off your list. You will also have to think much more carefully about what you do want to spend your money on. So when you do splash out on some big tours and experiences they will be even more precious to you.
Traveling without savings can be done.
It’s not easy and you will have a very different experience, but different isn’t always a bad thing. I wouldn’t change it for the world! That said this lifestyle of travel and work really isn’t for everyone. Maybe you just need to figure out how to travel more with a full-time job?
This post was proofread by Grammarly
Book your trip now
Are you ready to book your trip? To help you get the best deals and service here are the companies that I personally use to book all of my travel online. I always shop around before booking anything, but these are my tried and tested starting places.
- Skyscanner – I’m a bit fan of Skyscanner, it is who I use to book all of my flights. I often will check other like Google Flights or Momodo, but I always go here first and it is who I book 99% of my flights with.
- Booking.com – I LOVE booking.com especially when I can book and cancel free up until a certain point, mostly because my plans are forever changing. It’s easy to use and has one of the widest selections.
- Airbnb – I’m not a huge user of Airbnb, but sometimes I do like to use it, and I ALWAYS check it before I book anything else. You can get some really cool places to stay here, and it is especially good in places like Cuba. If you don’t have an account and you click on this link then you will get $36 off your first booking.
- Hostelworld – If you are looking for hostels then this is a great place to check first. They often have additional places that you won’t find on Bookin.com.
- Agoda – Although I don’t use it as much as booking.com, Agonda is especially good if you are traveling in Asia as they really do dominate there.
- Worldpackers – If you want to travel on the cheap and save money on accommodation then you need Worldpackers in your life. You can read more about it here. If you click this link to sign up and use the code CLAIRESITCHYFEET then you can get a 40% discount on your membership!
- Book a Way – If you are traveling in Asia and want to pre-book your transportation then bookaway.com is a fantastic site to do so. They have buses, trains, and cars.
- RentalCars – Looking to rent a. car while you are away? I always book through Rental Cars as they do a search of all of the big sites and find the best deals.
- Welcome Pickups – Very occasionally getting from the airport to my accommodation is a total pain in the butt, or I’m traveling in a group and it makes sense to arrange a pickup. When I do I use Welcome pickups.
- World Nomads – If you are looking for flexible travel insurance then it’s World Nomads all the way. I wrote all about insurance here if you want a more thorough review.
- SafetyWing – AsI’m a Digital Nomad and not moving around quite so much anymore I personally use SafetyWing now for my health insurance. I wrote a full review here.
- Viatour – Sometimes it can be a little expensive, but I like Viatour for somethings, especially if you can get a discount code! It’s also great for inspiration.
- Klook – If you are traveling in Asia, then Klook is great! You can book all kinds of tours, activities, and train tickets, plus they even have sim cards and WiFi.