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Tag: how to save

financial freedom

Get rich and spend the rest of your life traveling

financial freedomEach one of us has this thought from time to time: How to get rich? How to quit my job and have enough money for traveling? The fact is most people are running in a circle, that is keeping them from getting rich and wealthy – taking more and more debt and ending up paying interest only. To make the first step in the direction of getting out is to realize how much debt you have and get rid of it first. Getting rich starts with realizing where you are standing.

Here are steps to achieving financial freedom:

Cut your costs

Compile an excel table to have a clear overview over your costs and spendings. Are you spending too much money on entertainment? Consider reducing your spending! There might be cheaper/free options. For example: if you have gym membership, going for a walk or run in the park may be a possible alternative. Don’t forget to load your phone with cool music, grab your wireless headphones and head out! Enjoying hot coffee take away? Why not get yourself a thermos mug and brew your coffee at home! This way you can save and have your favorite flavor, just like you love it!

Do you enjoy eating out? Most offices have a kitchen area, so why not get some food from home? Eating out is way too expensive these days, plus the quality of food is not always great. Bringing some leftovers in a lunch box will help you stay healthy, minimize waste and accelerate your saving speed!

Reducing transportation costs may be difficult, though not impossible. If you live close enough to your work, getting there by bike may be an option. Otherwise, public transport (if available) is a good option too. Ride sharing services might be helpful as well. If car is your only possible option, consider getting a fuel efficient model and try to find people who would share your ride. This way you might find a good company who will keep your spirit high in the mornings.

There are tons of useful tips that will save you money! Just look around and think for a minute, where most of your money is flowing to and try to think of some ways to cut those costs. In my case those are transportation (hard to change), food (easy to change, I stopped eating out), some entertainment and travel costs. Saving on travel is actually quite easy, as there are so many alternatives! Some tips, how to save on airline tickets, hotels, which useful travel gadgets to use are here, in this blog.

get rich

Start saving and get rich

Once you have made a start with cutting costs, it’s time to start saving and get rich! I can’t stress this enough – saving is the key to becoming financially independent! I recommend joining the 50% savings club. The idea is to only spend 50% of your income, the rest needs to be saved and invested. Anyone can do it! If 50% seems too much at the beginning, try to start with 10% and gradually move up. Think about it: you skip some fun right now to get some long term return in the future! For some inspiration, I recommend reading a book by Richard T. Kiyosaki “Rich Dad, Poor Dad”. This book virtually changed my life! It is very simple, yet informative and has tons of examples how a simple change in a way of thinking can transform your life! I might write a review on this book in the future.

Invest and get rich

Now to the fun part – you are doing well, cutting cost and saving. Now what? Are you about to get rich now? Keeping your hard earned $$$ on your bank account is not going to make you rich. So what should you do with it? Simple! Invest! There are numerous ways to invest your money and get some good return. Let’s put it that way: there are easy ways and hard ways. Everybody chooses their own. If you are good at something (e.g. play sports) and know your way around those things, investing in some gear in order to resell it may be your way to go. A lot of people are selling winter gear in summer, a lot are buying in winter. Here is your chance!

If you don’t feel like spending too much time looking, investing in index funds (e.g. S&P 500) might be a good option for you and help you get rich. The Standard & Poor’s 500 Index (S&P 500) is an index of 500 of the largest U.S. companies, listed on the New York Stock Exchange or NASDAQ. It’s not completely safe to invest in, but for an average investor it is a way to go. The average annual return is around 10%, but the value changes constantly, so it is a long term investment. In his book “Who Took My Money” Robert T. Kiyosaki explains that this kind of investment, although suitable for most average investors, is quite risky and nontransparent (you don’t have control over your money, you just give it to someone and hope that they will make it grow).

Investing in yourself is by far the best possible way to achieve financial freedom – get to know your strength, your passion and your goals! Once you have accomplished that, you will know how to make your money work for you.

get rich

Enjoy your life!

While chasing a dream of becoming rich, one shouldn’t forget to live. Life is too short to waste it, each day is a small miracle! Getting out on a sunny day, talking a walk in the park or by the sea, visiting parents and friends – all those small bits make your life whole. It’s important to find time for yourself, spend some time alone and let yourself go. Funny, but true:

“Most people could accomplish their dream by the end of the week. Instead, they make it their dream of a lifetime!”

Try to fulfill your dreams, at least once per week. It doesn’t take much! There are people, who manage to do one new thing every day, even on a limited budget. Here is an interesting TED talk to get inspired:

travel money

How to save money for international travel

travel moneyTravel budget (or travel money) is often hard to build, especially if you are planning on going somewhere further than neighboring village. Flight tickets, hotels, food and local transport, not to mention museum passes and other entrance fees. No wonder most people can’t afford to travel every year – you still want to live and be normal, meaning going out with your friends once in a while or getting that new piece of furniture you have been planning to get for a while now.

But back to travel money – what is the best way? How to save money for international travel? Let’s look at some options.

How to save money for international travel

  1. Stock some cash and have it ready to grab special deal tickets. More about how to get those tickets, when to book and what you can expect is described in detail here: 20 Ways how to save on airline tickets Exactly how to stock the cash will be discussed in more details later in the article.
  2. Monitor hotel prices daily. Choose few options and keep an eye on the price fluctuation – hotel prices change often, so it’s wise and leads to good results (cheaper rooms). For more information on how to get the best hotel rate, read this blog post: How to save on hotels during travels  Consider booking with Booking.com – they have a huge choice of hotels and offer some kind of protection if hotel turns their back on you. This situation recently happened to me – here is a blog post about that case – How Booking.com saved my trip
  3. Make your homework and explore the destination beforehand, using Google Maps, travel forums and reviews. There are hardly any places on Earth, where nobody has been before and you could certainly use their advice!


blogging-336376_960_720 (1)Now back to travel budget – how to generate one? Well, obviously, the easiest way would be generating some additional cash. There are many different ways, how to earn some extra $$$, and it all comes to someone’s special skills, knowledge and interest. For example, if you are good languages, you may consider giving language courses or doing some translation works. If you know your hometown well – you may try to become a guide (awesome way to meet new people!) and generate some travel money. If you own a house with spare bedroom – why not rent it out on Airbnb. If you enjoy driving – Uber could fill your pockets with some coins. Some people (like myself) like writing and generating content could bring in some extra dollars. Same goes for starting a blog – nowadays it is super easy with WordPress templates. By the way, this blog uses one of those plus a super easy and cheap hosting by Bluehost. If you are ready to hit the road, take a look at the travel jobs list.

Now all these options look good and attractive, but what if you can’t sacrifice you free time for extra work? Maybe you have some family commitment or just want to relax (assuming you are working full time already). Well, I have some good news – you may actually increase your savings without investing extra hours. It’s not a “Get rich overnight” type of advice though, more of a “Pull you sh*t together”. But it certainly works (tested!). The solution is simple – just DON’T SPEND! Easy as that!

So how exactly do you do that? That’s the hard part. Learning to be minimalist takes time and effort, and a lot of self discipline! But here is how you start:

  • Create an excel sheet and write down all your expenses in one monthchecklist-911841_960_720
  • Look critically at the list and try to imagine, which spending you could avoid
  • calculate how much money you would realistically need for 1 week
  • Starting next month, give yourself pocket money once per week (e.g. 50$). The rest is not to touch, unless it’s an emergency
  • By the end of the month see how you managed and all unused cash deposit on a savings account.

I know that some expenses are unavoidable – food (obviously), gas, bills and rent. But even with these you could probably save some travel money. Here is an example: you are paying your internet provider 20$ per month. There are others, but you just like this one and been with them for ages. Here is what you do – go check on other offers, ask them for a better deal, then tell them you agree. As soon as your provider hears about you leaving them, they will make sure to make you a better offer! Best part – you won’t have to change anything. Your bills, however, may drop as much as 50%! That’s a 10$/month free money, right there!

Now let’s talk about take out coffee – many people love that and spend hundreds on those plastic cups. But think about it for a second – do you really need it right there or can you wait to get home? Most offices offer coffee for free anyway. It has become some kind of a trend, but being part of it is entirely your own choice. Brands like Starbucks are getting richer while you can’t afford those nice Thailand tickets..


While eating out is certainly pleasant and often necessary evil, it’s still damn expensive. Instead, try to cook yourself – it’s much healthier too, plus leaves you extra 100$+ for your future travels. On top of that, cooking is very relaxing activity and helps you build better relationships with your family and friends. You can a cool cook book or find some of those on the internet.

One more huge way to save is to stop going out and generally drinking any alcohol. Not only it is unhealthy and damaging, but it also costs a fortune. I could never understand people, who go to bars on the first weekend after salary. Not only do they end up with hangover (weekend is lost), but also with holes in their pockets. Going out is truly something for people with no dreams. Alternatively,  if you need to go out, stick to non-alcoholic drinks or water (tab water is mostly free).

I could probably go on with the list of different expense areas, but I’m afraid it will get too personal. Everyone knows better, where their spending are hidden. But one thing is for sure – most people just don’t realize where the salary goes. Keeping an eye on all expenses is the first step in the direction towards your next awesome adventure! If you need some more advice on how to cut your expenses, these books are very helpful!

How do you manage to build a travel budget? Share your ideas and experience!

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