No, not drugs! I'm referring to your travel addiction, which to my mind, is one of the best addictions to have.
Do you have a special savings account for travel only?
Do you work on the side and save whatever you earn for travelling?
I was asked this question and realised that we all have different ways to keep our habit alive and well, but wanted to pass on some tips to folks who would never join this board. Their loss of course :-)
The US govt completely funds our travels. The SS check is deposited directly to the travel account.
When I worked I had money taken from my pay & deposited in an acct. I didn't see it, so I didn't miss it. After 25 yrs I took early retirement & went to work part time for a company with a very nice retirement plan. I didn't especially like the work, but stuck with it because whatever they put in my retirement plan was earmarked for travel. I'm now retired & it's been nice to have that account
When I left school ( a long time ago now) the only way I could afford to get around was by finding work that involved travelling, so I started working at exhibitions. It was great, I saw most of the British Isles, Canada, the US and S. Africa.
These days I use my savings.
2 jobs, and scholarships for school! Lots of people think I am crazy for spending money on travel! I always tell them, once they try it they will get hooked and realize it's well worth the money!
Not a method that will work for most people, but I have the extremely good fortune to be paid well and spend little. Travel is my major expense in life, and with over 50% of my pay going straight to savings, I can usually be pretty relaxed about budgeting. I also spend a lot of time shopping around for the best values/deals, and travel primarily in the off-off season (Nov-Jan).
I do have a special savings account for travel, but the biggest saver is that I can stay with my wife's family in Europe. And no, that's not the reason I married her (although it is a nice side benefit...)
I am fortunate to have a job that I can work crazy amounts of overtime and take vacation whenever I want and for up to 2 months. I work lots from December-March and take 5 weeks off usually in May.
I also don't travel expensively which helps and I am planning to try out the couchsurfing experience this time around.
Same as Liz. Paid well, spend little. One paycheck a month goes into a travel fund.
Travel off season and start to plan the annual sojourn right after attending the January 1 Rose Parade.
I have a seasonal second job in the winter, which mostly funds my travel. In past years I have had lots of overtime at my first job, but not so much in the last two (and don't foresee it this year, either).
My husband always puts a designated amount of money into our travel account with each paycheck. Also, whenever he takes an extra weekend job at the ocean or somewhere fun (beside all the expense money for the hotel,gas and food) the rest of the money goes to the vacation fund. Since the money is for fun, he doesn't mind working the weekends. Any extra money ("tips" I find in pockets while doing the laundry, recycling cans, rebate checks) all goes to the travel fund. Since I haven't been employed for many years, my job and hobby is to find ways to travel for (close to)free. I juggle credit cards to get frequent flier miles and do all of the research on how to travel well on less. Our latest adventure in travel will be our first home exchange next Christmas, a very good travel bargain for both parties involved. Regardless of how many thousands of extra dollars are in the vacation account, I am still extremely frugal, always leaving enough money for many future trips. I don't EVER want to run out of money and stop traveling! I don't believe in blowing everything on the "Trip of a Lifetime". I want to take endless trips in my lifetime and the wise stewardship of our resources will help ensure that.
Federal tax refund. That, and marrying a man who works for an airline. :)
Ever since I got home from my first big trip in Sept 2007, I started saving for the next one. It's taken me 2 years, but I am vowing to go back this fall. I did open a separate savings account. And I also try to function with a daily thought in the back of my mind, which is "If I spend money on this, what could I get in Europe instead?" Aka, a frappuccino would be a gelato in Florence or a cappuccino in the Cinque Terre, etc. I don't make that much money and was out of work for parts of it, but I am putting going back to Italy above a lot of other things I'd also like. I'm hoping that with this type of plan I will be able to take a 2-week trip about every 2 years. I think that will make me pretty happy in the long-term :)
I put money into a travel savings account each month. Plus, every time I am about to buy something I really don't need, I decide if I would rather have that item, or have the extra money for travel. If I don't buy it, I put that much extra money into the travel account. Oh, and my neighbors all have new kitchens, new hardwood floors, updated bathrooms, etc. etc. My house is well kept, but not the most up to date. They remodel, I travel!
For me, a sports junkie, I have found the perfect way to fund our travels. I officiate basketball and softball, which I consider to be a form of paid exercise. The proceeds go into our travel fund. The wife tolerates my "hobby" on weeknights and weekends knowing that there will be a payoff for her!
I also travel a fair amount in my work, so the hotel and frequent flyer points, as well as my airline-sponsored credit card (that gives a mile for each dollar spent) help out, too.
We're just so damn lucky! REALLY. I'm a principal and my wife's a teacher, and we don't have children (apart from those with whom we spend every day between September and June, that is). Just to create the time to travel, I put in a number of 60-70 hour weeks, so when we hit winter break and summer holiday we can sneak away for 1 week each December and 2 weeks each summer. I LIVE FOR IT!
We use a credit card that gives us reward points that we use for airline travel. I pay as many of our bills as possible with the credit card, so every 2-3 years we seem to have enough points to fly somewhere in Europe. We also travel in "off/low season" times so accomodation costs are significantly less. As we near retirement, I like the idea of having a "travel account" that you put money into. Todate we haven't had to worry about that to much.
I teach, but I also get some stipends. Almost all the stipend money and our tax refund go for travel. Our trick is how to split the money so that we do a small trip one year and a bigger trip the next. We want to travel every summer, but we want to make it to Europe too. So far the formula has been domestic travel one year, European the next.
I used to be able to travel on business and write it off, but now we are, to borrow and old joke, "spending our children's inheritance."
I work 2 part-time jobs along with running our own business that we started last June. Most of our trips are little 3-4 day weekend trips to neighboring countries. One of the perks of living in Frankfurt, sort of the transportation hub of Europe.
My addiction was so bad that I had to take extreme measures. First I moved to the East Coast from where I could get really cheap cheap mid-winter airfares, so for a couple of years I traveled to Europe every single year. Usually in February. By myself if I had to. Got some great deals. In the meantime I consciously developed my resume' with the goal of one day landing a real job (and a work permit) in Europe. In other words, my whole career was focused --more or less-- on that goal. It took many years. However, it ultimately worked! Now I am daily satisfying my addiction and every break that my kids have off from school, we are zipping around Europe. It can be done!
Like Thoreau, live a simple life and save. Own your cars or sell one, cut the landline phone, cut cable TV down to the most basic option, stop eating out so much, stop eating meat (expensive), cut out season tickets for sports/symphony/whatever and just go to a few events, pack a sack lunch, and stop buying Starbuck's every day. Just a few ideas.
Travel is a priority for us so we don't mind budgeting and doing without some extras.
We have a frequent flyer credit card that earns miles/points and I charge everything then pay it off at the end of the month. The miles really start to add up.
We keep our entertainment expenses to a minimum. No 10.00 movie tickets, eating out is limited to a couple of times a month, and rather than exchanging gifts for birthdays or anniversaries we add to the travel account.
Once the money has been saved we continue to budget during the trip - we travel in the off season, seek out affordable accommodations, prepare our own meals when possible, take advantage of 2for1 offers, free museum days and exhibits and get to know the locals as they know how to save money in their cities.
Seeing the world is so worth the effort of budgeting and learning to do without some extras.
What I do is I have this account with this guy named Bernie Madoff ! However I have not been able to get in touch with him lately!I bet he's traveling himself right now.
Eli - We have always loved to travel in/out of the US, but we also have college tuition, wedding, retirement, mortgage, etc., to fund. We previously traveled on credit cards (big mistake) when were young and foolish. Now we are distributors for a health product that with little time investment provides us with enough extra income to be debt free, pay our taxes, and travel at least 2-4 times per year. Good luck with whatever works for you, something will as long as you make traveling a priority. Happy trails!
My wife and I are funding our travel with our childrens inheritance.
My wife and I have been married 36 years, live very comfortably in a modest home, and have never bought a new car. We always buy cars that are two or three years old with very low miles (it is easy to find just what you want: make, model, color, features, etc. on the internet). A two or three year old car usually sells for about 50% or 60% of the same car when new, and we travel on the savings. Travel is our top priority.
Part time job is paying for mine. Five months of working part-time funds a good vacation each year.
This year it is 19 days in France, Germany, Austria, and Switzerland.
Must be cultural thing-- people in the US are increasingly of the attitude that children should not expect a windfall due to their parents death. They need to make their own life.
I think it would be very, very, sad, and very very bad, if a parent did not take the opportunity to enjoy travel while their health is good, instead saving their money to leave to their children after their death. I mean, that just sounds very very warped to me.
How does anyone even think that makes sense?
These "children" are freaking 30, 40 and 50 yrs old,, they are not anyones finaicial responsibility anymore.
If as a parent you have screwed up so badly that your adult chilren are counting on your money after death, then my condolences to you. If however you have a disabled child you feel you many need your support for his or hers lifetime, then that I do understand.
We, like many travel bugs ,, do not buy new cars or furniture regularily, we do not care if our couch is 10 years old, we do not really need to replace the carpet in the spare room we hardly use, and we do not buy expensive clothes every month.
It is all priorities.
Learned that back in 1985, my friend and I did not have cars, steroes, or fancy duds, but we did get to go on a three month trip to Europe,, how many of our friends, who had all those things, would look at us and say " lucky you",, that was annoying. Luck , smuck, work and save.
Paul - What is wrong with traveling with your children's inheritance? Maybe you think the children already inherited the money and the parents are spending it? That expression is commonly used, meaning that you are spending your own money while you are alive, rather than saving your money so your children can enjoy it after you are dead. My father had some wonderful trips and I'm glad he was able to enjoy his own money rather than leave it to me and my siblings. I can fund my own trips!
We love to travel and do it with the money we don't spend on clothes, new cars, restuarants and entertainment. It's all about priorities. Most of the people I know think nothing of spending $75 on dinner and a movie, and going out to eat several times a week. They think we're cheap. We've been on 3 cruises and 2 trips to Europe in the last 12 months. This is cheap?!? When I mention a new trip, and they tell me, "Gee, must be nice" I look 'em straight in the eye and answer, "Yes. It is."
I work 1 or 2 part-time jobs (in addition to the full-time one) and live frugally. If travel's a priority, then you cut back on other things to make it happen.
Yes, I have a seperate savings account that I put money in every pay check. I also put any tax returns, rebate checks, Christmas money etc into it. We also do not eat out much, my husband cooks better than most restuarants we go to. While we are saving up for our next trip we are planning where it will be which is half the fun.
Jack - my parents say the same thing. They travel twice a year to Europe and they worked hard for many years and deserve it.
I never thought my parents owed me an inheritance.I got a education and good upbringing and thats all they owed me.My children are doing Ok and I do things for them but to not travel so they can have more money when I am gone is just plain silly.By the way in June we celebrate our 50th and Im taking 5 adult children to Italy for 11 days.This is also their inheritance and they are thrilled and excited.
My parents have traveled a lot and tell me and my two brothers not to expect any inheritance because they are going to make sure they spend it all before they die!
This year's post graduation backpacking trip will be funded by a summer of working my butt off and left over student loan money. Hey- I already borrowed it and when you are so far in debt from college, what's another couple thousand dollars to congratulate yourself on a long four years, plus the economy sucks, I'm not going to find a serious job :-)
I do freelance proofreading on the side to fund my trips (I'm an editor). I keep the money in a separate account. Friends are amazed I go to Europe every year, but I work for that money.
Only trouble: In my current job I only get 2 weeks' vacation. If only I lived in Europe!
Jack , now thats one great way to spend an inheritance, by making a legacy of memories!!
I like what Pat said about living cheaply so she can travel. We definitely don't have as big of a house as some of our friends, we rarely eat out, and we buy new clothes only when we need them. Our kids only get new toys for their birthday or Christmas. We don't have a big new flat screen TV. So then why do I feel guilty when people get jealous that we travel to Europe about every 2 years?
No addiction yet, lol. But, I do plan on traveling more, now that I can afford to. Saving, working some overtime is how I did it this year. Most of the overtime was in the first 7 months of last year so I could get out of debt. Less payments = more money I could save.
I also have money from each paycheck placed in a separate account. Several months ago, I doubled that amount and have forced myself to adhere to an even tighter budget. Whenever I have the urge to splurge on something I "want" rather than "need," I ask myself if that item is more important than traveling to "xyz."
Maureen, I also know what you mean. I'm learning not to let those comments bother me anymore b/c I am earning the money to pay for these trips at no one else's expense.
Melissa, my first time abroad was as a senior in college and I used financial aid fund it. Don't regret it one bit, either! :o)
I am glad to see I am not the only one that feels a little guilty around friends and co-workers regarding my travels. Alot of them make little comments about how I am snewty because I enjoy going to Europe. I have explaind that I save and pay for my trips instead of doing other things and also that it is not as exspensive as some people thingk.
It also dosen't help that I live in a red state where there are SOME (not all) that feel traveling outside of the US is un patriotic. You know, the whole freedom frys mentality.
I figured out how much I spend each week on food, movies, clothes, and other somewhat discretionary expenses. I decided I could spend $40 less each week without suffering. So every week, $40 is automatically transferred from checking to a high-interest online savings account, and I withdraw the remainder of my weekly budget in cash. I'm allowed to spend just that cash. It has been easy and relatively painless.
Hubby contributes his earnings from week-end band, as well as quarterly bonuses.
I contribute the planning expertise -- LOL.
What we do most is cut out all unnecessary spending, especially eating out at restaurants. It adds up pretty quickly.
We have not come home with credit card debt from ANY of our four trips to Europe. Always have Euros left over, which goes into my money belt, not to be used until next trip.
Thankfully, there has always been a next trip. Paris again in 2010.
Bob, speaking about Freedom Fries...I head that stupid comment today, sigh.
Silly me mentioned how much I loved France, and got an overly long lecture about how the French hate us!
Anyway, I was thrilled to read the different ways everyone has been funding their addiction. I can't think of a better addiction to have!!
Last weekend a friend in NY sent me pics of her beautifully remodelled home, with her lovely imported Italian furniture which made me a bit green at first, but then I thought how much more I'd rather be in Italy, France, England, Germany or wherever and the green turned back to pink I guess? LOL
She did say that she'd rather have "items" she can appreciate and love all year round, than to squander money on a few weeks or month travelling to Europe.
Since im relatively broke, I usually find a good airfare 6 months before the trip, buy it with my low interest WF Visa, then spend 6 months paying it off. I usually pay for my hotel using my debit card out of my checking account. I also buy the local currency little by little when I get paid every 2 weeks (like 40 GBP per paycheck, etc) because I prefer to use cash instead of credit cards on vacation. When I come back, I dont really owe much. I only owe if I use my (British)husbands UK Barclays chip and pin Mastercard, which I resort to only if I run out of cash. If I dont run out of cash and still have some left over, I just leave it in my luggage for my next trip.
In the meantime between trips to London (my home away from home) I spend time trying to convince my (British)husband its better to move us to the UK so I could go to London more frequently and it will be cheaper in the long run... yea its not working yet but give me time...
In order to finance an upcoming six week European Extravaganza to Spain & Europe for a family of 5 (I only had to do one little thing...move heaven & earth!
We are so passionate about travel everything else pales in comparison. For the past 10 months my motto has been, if I can not bring "it" on the trip, I'm not buying "it". For instance, today I bought shoes (for the trip); yesterday I bought a travel safe pocketbook (for the trip) etc....
I have arranged several home exchanges which I estimate saved us at least $5,000(we need two rooms) in hotel costs. We will spend 24 or our 42 days in other families homes and they will stay in ours. I found amazing airfare ($800 roundtrip from NY to Spain going and Paris to NY returning).
My kids are only 6 & 11, we want to travel a bit with them before we have to knuckle down and save for college. Needless to say I will never have a Mercedes or BMW - I couldn't care less!!!
Great Question. I just assumed all you guys were loaded!
I've even amazed myself that I have been able to plan & afford a six week vacation to Europe this summer for my family of four, all on my husband's teacher salary.
It is definitely about priorities. Unless you are well to do; you have to be willing to do without a lot of the fluff that many people think they can't live without.
I'd much rather show my children the world than buy them everything in it.
As someone who has had some issues with unemployment, I don't really have a special "travel" savings, more of a "if I have some sort of disaster happen (again) I can pay rent for a few months" fund.
For the trip I'm taking this summer, it's a bonding trip with my mom, and we're just going into debt to do it because who knows if we'll ever be able to get together on a trip again? Totally worth eating ramen for the next six months.
Back in college, however, any money that did not go to food or rent was hoarded, supplemented by one of the worst jobs ever (working in the student dining hall), for an awesome spring break trip with the ski club - to Chamonix one year and to Innsbruck another - then a trip to the Dominican Republic that I managed to do for under $900 including the plane thanks to finding the best place EVER to stay at (breakfast and dinner included for $20 a day - who needs to eat lunch anyway).
Then there's the summer I spent in Germany because I got an internship. I also got a one month german language course through the people that set me up with the internship - sure they charged me, but in return, I got free language lessons AND a free place to stay in a private room in an incredibly nice German woman's house. Unfortunately my internship only paid enough for like half my rent when I showed up for work, but hey, that's what that damn part-time job at school is for right?
Well, I realized I'd never make enough money to do as much travel as I wanted, so I found a more direct approach. I made travel my job! I work for an airline and so now I'm in Europe, or South America, or wherever, about two weeks every month! Yes, the downside is that you don't get to stay long at any one time, but eventually you can see a LOT of any place if you have enough one day visits! ;)
I try to do one thing out of Rick's books on each layover. I think his concise format is perfect for the short-stay visitor and/or airline crewmember.
Keep on Traveling!
Dave
You do get a lot of funny looks and comments when you tell someone you are going to Europe for a 3 week vacation. Don't know how anyone can afford that they say. Then they go to Florida for a week and spend $1500 or more for a condo and food and entertainment for the week. Also spend $20 a day for a carton of smokes and beer. You can sure have a good trip to Europe for that $20 per day. Those who don't travel much have no idea what they miss. I would rather go to Europe every other year and I know most on this site feel the same way. My social security kicks in soon and while I am still working, I sure plan on some great trips the next few years.
Tony you are so right. I try to go to Europe every two years depending on my miles and finances or just for a week if possible and I can spare the funds. I would much rather spend one week in Europe than anywhere else. I would never forgive myself if I blew 1,500 on a domestic vacation when with a few dollars more I could go further. We came back from Switzerland and Italy last year and right away I started saving. I call it my Grossglockner fund because we started it when we were going to Austria a few years ago. Every time I take lunch to work I drop $10.00 in there (its a cardboard wine giftbox) or more depending on my expenses for that week. For my birthday or other occasions I get money and put it in there. I always put $10 or $20, never less, and on some weeks I average $50. So by the time I am ready to go I have close to $1,500 or more depending on how disciplined I was. I started it last year October and its going to be opened just before my trip in August so I'll see how I did. Its fun and a challenge and extra money is always good on a trip. This is my third Grossglockner fund and I have yet to see the Grossglocker! Weather issues. I will try again this year.
