How technology can help you to save for your travel plans

1. How technology can help you to save for your travel plans 1: Use your smart phone for smarter savings Many people have the right intentions when it comes to being financial stable towards their travel goals, however not many people have the right strategies when it comes to actually sticking to their savings plan. Most of the time people fail due to either not tracking expenses or simple but bad financial habits that they learned over the years. Understanding the difference between what is an actual 'need' and what is a 'want' is priority number one. Luckily, there are many different ways that technology can help with unlearning those financial habits and attempt to steer your travel budget back into the positive. This can be as simple as making a list of all of your monthly expenses, including all of your extra indulgences like eating out, hobbies and other fun activities, so that you know what is a need or want. Once you have a clear understanding of what expenses aren't optional, then you will be able to make smarter choices of where to spend your money (and where not to) 2: Track Your Daily, Weekly and Monthly Spending There are many different options for tracking your spending, but for most people it will be easiest to keep track of their finances on their smart phone. Both Android and iOS devices offer a large amount of finance apps that can help you keep track of what you're spending. You will have to spend some time initially to enter all of your data like monthly bills and other reoccurring expenses, but it can be worth in the long run to see everything combined as required expenses. A majority of the apps will also give you a graphic to help you visualize of how many percent of your monthly goes towards what expense. One of the most used and best finance tracking app is 'Mint' (both available for Android and iOS), which lets you set up graphs to see how your monthly spending is divided. Get bill pay reminders so you pay bills on time and schedule payments on the spot or for later. Say so long to missed payments and credit card fees. 3: Reduce Unnecessary Spending Understanding where your money goes will also help you to actually cut back on those expenses that may not actually be a necessity. Seeing an overall count of your daily, weekly and monthly spending will show you the reality of how quick it all adds up (especially those small indulgences like fast food, specialty coffees and other things). You don't have to cut out all of your luxury items, but knowing what your goals are will help you to think twice next time before you start swiping your card. Apps like 'ClarityMoney' help you eliminate reoccurring subscriptions that you don't want/need anymore and help you take control of your finances by giving you other best practice tips for your personal finances. 3: Why not earn some extra money? Just like there are apps to help you track your money, there also apps that can help you earn money towards travel. If you're an android user, then you can earn travel rewards by using Wanderlust Rewards (available on Google Play & Amazon App Store or http://download.wanderlustrewards.com

2. ). The app offers surveys, videos and other promotions for people that are wanting to earn points to trade-in for travel rewards. You might not be able to finance a full luxury cruise this way, but its an easy way to save extra money on your next hotel stay or local groupon deal. Also gift cards never expire so you can start saving them up for your next big vacation. 4: Develop Good financial habits to Save You Money Simple alterations to your life style can add to some savings that many people underestimate. Yes, you might not be saving hundreds of dollars just by changing one habit, however if you change multiple habits that cost you money, then all the sudden you can notice the effect. Things like contacting your utility companies for saving offers can add up quick and reducing your bills overall is a long term way to bolster your travel savings account. Even small changes like switching to energy efficient light bulbs in your house will add up over time. Many studies have shown that people who start cooking at home instead of eating out, have saved an average of $250 per month. What could you be doing with an extra $3000 per year? 5: Other Ways To Save - Sign up for an app that allows you to set saving rules. For example: Everytime you use your debit card you transfer $1 into your savings account - Switch away from namebrands when grocery shopping. A lot of times you will almost pay half by switching away from the most popular brands - Only use the AC/Heater in your house/apartment when it is really needed. A majority of your electricity cost will come from this. Its easier and cheaper to cover up with another blanket. -Don't be afraid of DIY repairs! You can often save a lot of money by doing simple household or car repairs yourself. There are many self help guides and books available for any imaginable topic -Start preparing your meals ahead instead of eating out all of time. It is a lot cheaper took lunch/dinner at home, instead of going out to a restaurant and paying for the food and service. 6: Don't over do it One of the biggest mistakes that people can make is to limit their savings too much. You should be aware of your monthly spending, both for needs and wants, but you do not need to deprive yourself of a treat every now and then. Take the time and really analyze your budget, so that set up a savings plan that fits in comfortably with your lifestyle and most importantly doesn't set yourself up for failure. Nothing is more disappointing than having to start over, because the original plan wasn't thought out well enough and another surprise expense came up.