Tips for Efficient Saving for Those Who Love Traveling

Traveling is an activity that is very fun to do. Not just traveling, enjoying the typical culinary delights of a region or just traveling, but from this hobby of traveling we can also learn about various cultures from every place we visit. That’s why, apart from being able to refresh the mind, this hobby can also enrich our knowledge and insight.

It is true. However, carrying out your hobby of traveling certainly requires a lot of money, right?

Traveling , both within the country and abroad, doesn’t always have to be expensive. With the income we have now, we can definitely do it. However, we have to be more careful in planning our finances so that our savings are not drained when we want to travel.

Before exploring exciting places, we can follow several tips for saving efficiently for traveling as will be discussed below.

1. Research the Destination

The main thing we need to do before traveling is research about the place we want to go. What things need to be prepared, how is the accommodation, what places should be visited in the relevant location, what is the range of costs that need to be spent per day, and so on. Because, by knowing these things, we can make more thorough travel plans.

2. Set aside income

If we already have plans to travel , then set aside a few percent of our income to do this. Basically, there are no definite provisions about how much income we have to set aside for this. However, if you don’t have a lot of expenses, it would be good if we could set aside 10% of our income, so we can make it happen.

Apart from that, we can also set aside a percentage of income for savings by determining the travel time in advance. For example, we will travel 5 months from now. From there, we can estimate the amount of income we have to set aside each month in order to make our travel plans come true.

Another way we can do this is by implementing the 50/30/20 system, namely allocating 50% of income to meet basic monthly needs, 30% to fulfill desires (such as traveling ), and 20% for future needs, savings and investments.

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3. Reduce Expenses and Adjust to Income

We should reduce snacks, shopping, watching at the cinema, or other tertiary needs that are not too urgent or can still be done at another time so as not to disturb the budget that has been set aside to fulfill our traveling hobby.

This also applies to daily needs that we really need, such as basic food, electricity, water, and internet. As much as possible, we can be more frugal in using it, or buy products at a cost that suits our income budget.

4. Avoid Subscription or Membership Fees

Maybe the costs incurred for subscriptions or memberships , such as music platforms , films, or memberships at sports venues, are not that big compared to our monthly income. But this can also hinder the allocation of savings funds for traveling . Especially if we rarely use it ourselves.

Just imagine, the monthly subscription fee for a film platform can reach IDR 85 thousand, for a music platform the monthly fee is up to IDR 79 thousand, while the monthly fee for a sports membership can be up to IDR 475 thousand per month. If we have a subscription or membership for these three things, the total costs we have to pay per month alone will reach IDR 639 thousand.

If we are already planning to travel , perhaps the gym membership for exercise can be stopped or frozen for a while, until after we return from traveling .

5. Buy Discounted Equipment

When traveling, we will definitely need certain equipment to facilitate ourselves. For example, if we are going to travel to a cold area, we will need a thick jacket, coat, hat, and so on. If possible, buy equipment that is on sale, either through online or offline stores .

The equipment we buy must also be readjusted to our income budget so that we can still meet the savings needed for traveling later.

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6. Prepare Health Protection

One of the most important things you have to prepare before traveling is to have health insurance , as a measure to anticipate or prevent life risks from attacking while or after traveling . If there is health protection, traveling can be calmer. Moreover, currently the Government also requires every citizen who wants to travel abroad to show proof of ownership of health insurance with a minimum coverage value of 25 thousand US dollars or the equivalent of Rp. 360 million.

What Health Insurance Products Are Suitable for Those Who Like Traveling?

For health insurance, there is MiUltimate HealthCare which can provide health protection until we are 110 years old, or until dependent children are 25 years old with annual benefits ranging from 2 billion to 15 billion per year.

So we no longer need to worry about medical treatment costs if we have to be hospitalized. Because, apart from the costs being covered according to the bill, this product can also cover room and medical costs abroad along with an additional annual limit if you experience a critical illness .

 

That way, we can protect ourselves first before traveling long distances , so that we can be calmer when we are at our destination, even when we return home later!