A stunning view out over the water from the Amalfi Coast, Italy

How to Afford Travel: Saving for Your Dream Holiday

TRAVEL PLANNING

Deciding on priorities and making small changes can add up to the trip of a lifetime

I was recently chatting with a friend who loves travel as much as I do. The topic du jour  –  how to afford travel as life gets more expensive. We both have children and live in the U.S. where healthcare and college are very costly. And my dream holiday is a trip to Africa: a two-part extravaganza of trekking to see mountain gorillas in Rwanda and explore the Kalahari and Okavango Delta, on safari in Botswana. 

If I ever want my Out of Africa dreams to come true, I need to save a significant amount of money. But I don’t want to do it alone: I launched Midlife Globetrotter because I want every midlife woman’s dreams to come true – travel and otherwise. So I think we should start saving together. 

In theory, I should know how to save for a goal. Early in my career, I often wrote about personal finance as a business journalist.  Of course, we don’t always practice what we preach, and there’s room for improvement in my budgeting and savings habits.  What follows is a list of ideas: some are already habits, and some are new ideas I’m trying. And then there’s my one budgeting failure. 

floating village cambodia river trip
It's helpful to remind myself that travel experiences mean more to me than things

Deciding on Priorities

From what I’ve learned, success in saving for anything, a home, a car, or a vacation, begins with getting clear on what matters to us. I know that meaningful travel experiences bring joy to my life in a way that other “things” do not. Yet I’m still tempted to buy new shoes, or go out for dinner. 

But I am newly committed to save for my dream holiday to Africa, so I have to find things to forgo. We are all different; what doesn’t matter to me (facials) is someone else’s favourite thing. 

So we don’t have to give up all the fun in our everyday life to afford to travel. But we need to prioritize our expenses. Once we do that, we can take the little steps every day, week and month that add up to big savings. Savings that will get us to our midlife dreams – whatever and wherever they are. 

zebras in a beautiful grassland in Africa

How to Afford Travel

Step 1 - Travel Dream

We know that my dream is a trip to Africa. Now it’s your turn. Rather than abstractly thinking, “I would love to travel somewhere exotic,” your assignment is to explore some specific places where you might want to go. 

If you’ve already decided on a destination, fantastic. If you don’t have somewhere in mind, make a cup of tea and flip through some travel magazines. Or explore some travel websites – I really like AFAR.

This story might also offer some ideas: Dream Destinations and Tours for Women. It’s a list of 10 beautiful countries (some that I’ve visited and others on my bucket list) with specific recommended tours for each place. Six of them are tours for women only. Start looking for places that intrigue you; try and imagine yourself somewhere you might never have considered. 

Researching how to afford travel with a laptop and Europe guide books
A castle at the coast in the Scottish Highlands

Once you have your place, get a hold of a photo of it. Tear it out of a travel magazine or print it from a website and tape it up somewhere that you will see it often.

I like to put photos up next to my bathroom mirror. Seeing a photo of my dream holiday each morning, reminds me that the actions I take today will move me closer to that reality.

Step 2 - Research the Cost of your Dream Holiday

Once we’ve picked our destinations we need an idea of what our dream trip will cost. This requires a little more research. Checking the cost of organized group tours can be helpful; you will find that costs will vary greatly depending on the destination, length of trip and class of accommodation.  My story on Dream Destinations for Women lists the prices for every tour. 

A good travel agent can also give you information about costs. You aren’t committing to booking a specific trip yet, just gathering info. 

A woman uses a calculator to budget for a dream holiday

Once you have estimates for the main components of the trip, add in the other elements: an approximate cost for your flight, travel insurance, and vaccinations (if required).

Then budget for other spending that wouldn’t be included in your travel “package” such as extra excursions, meals and alcohol. 

Don’t worry if you don’t have an exact number; this is about getting started. You can fine-tune later, as you know more about your travel plans

We have an approximate budget for our dream holiday, and let’s say it’s $5000. We want to calculate a monthly savings goal. If I hope to travel in 18 months my monthly goal is around $280. I’ll round that up to $300 a month to give myself a little buffer. 

Step 3 - Redirect Money to Travel Savings

Ideally, we will set up a designated bank account for our travel savings and make sure there are no fees or minimal fees. Giving it a specific name “Travel”, “Africa” or “Greek Island Sailing”, is another reminder this money has a special purpose.

Now let’s start building our travel fund. 

A 20-year-old man prepares dinner at home
My son Charles makes Saturday dinner - he's become a great cook and really enjoys it

Eating In & Dining Out

I am starting with this one because I think it has the biggest potential for savings. Do you ever dine out? Silly question, I know: who wants to cook every night? 

Eating out is a huge treat and I love it as much as anyone. But it is very expensive. And it’s not just the special dinners. Do you order pizza every Friday? Pick up a $5 latte a few times a week? It all adds up; the average American spends $3000 a year dining out.

So this is the question I ask myself when I am tempted to order dinner instead of cook: would I rather order in Thai food or enjoy it in Thailand, on vacation?

The joy I get from dinner out to my local restaurant is fleeting; I like it a lot at the time and barely remember it a few days later. But I will never forget eating escargots in Paris, at Le Grand Café Capucines, one of the oldest seafood restaurants in the city. You can read about my trip to Paris here: Where to Get the Best View of the Eiffel Tower.

Enjoying escargot on a dream holiday to Paris
Eating out is far more memorable for me on a trip to Paris, than at home

I know that grocery shopping and meal prep is very time consuming; I used to joke it was my part-time job. So let’s enlist some help. If you have older kids, could they pitch in on dinner duty? I have assigned my teen sons each a night to make dinner. Knowing how to cook is a great life skill.

Even buying prepared or semi-prepared meals at the grocery store is cheaper than restaurants or takeout. A roast chicken is $7, a pre-washed container of salad greens is $4, and a few russet potatoes for baking is $3. It’s possible to feed a family of 4 for $15. Even fast food for four will cost you triple that. I find that planning the meals for the week ahead helps prevent my family from ordering in spontaneously. 

I think there is a lot of potential for savings when we add up what we spend on food and drinks each month, other than groceries. If we can cut that in half we can save hundreds and possibly thousands of dollars every year? That’s a great boost to our travel fund. 

Potential monthly savings $100 +

Susan sitting at the leheyria spring gate, at city palace jaipur
It's fun to buy something special to wear on a dream vacation. Susan in Jaipur, India in 2018

Clothing & Shoes

Science has now proven what we ladies already knew: shopping makes us feel good. It lights up the pleasure centers of the brain. The problem is that little mood boost is short-lived. 

Have you ever added up what you spend on clothes and shoes in a year? I started tracking my annual spending and gave myself an annual budget. As long as I stuck to it, I enjoyed buying something new, instead of feeling guilty about it. This is still a work in progress for me, but I am improving. 

Shopping sabbaticals can also be great re-sets: refraining from new purchases for two or three months can mean a couple of hundred dollars to kick-start a travel savings fund. And if we are planning a special holiday, we will probably want to buy a few things for the trip. 

Potential monthly savings $35 +

A midlife woman runs on a path lined with palm trees

Fitness

Exercise is so important for midlife women so I will always say let’s prioritize our health and fitness. But can we save some money by switching a $70 a month fitness or yoga studio to a less expensive annual membership somewhere? 

Like many people, I gave up my gym membership due to coronavirus. I bought an exercise bike for $400, a one-time expense that I hope will save me money in the longer term. I now do a “free” routine with exercise bands and weights at home. I miss going to the gym but this is working well for now, and saving me money because I’m not taking any expensive classes.  

For any of you thinking: “I love my pricey exercise classes, back off lady,” I say, fantastic! If you are in a fitness groove that works for you, don’t mess with it. That is your priority and there are other places to save. 

Potential monthly savings $50 +

Forgoing the spa in favour of home facials, saves money for your dream holiday

A study conducted by OnePoll for Groupon found the average woman spends $313 per month on her appearance, or $3756 per yearI’ve never tracked what I spend, other than my hair, but I think there is huge potential for savings here. 

Facials

The most common “beauty” expense for the women polled was facials, and they cost $50 on average. I don’t get facials. If you do, have you considered home facials? Or what about alternating home treatments with your professional treatments? If you did that every other month it could save $300 a year.

Potential monthly savings $50

affordable clean skincare products

Skincare

One of my favourite new ways to save money on skincare and makeup is to shop for products at my local natural foods store. It is far less expensive than department store beauty counters and in some cases even traditional drugstores. And the products don’t contain the harmful ingredients I am trying to avoid.  

On the subject of clean beauty, one of my favourite and very affordable skincare companies is The Ordinary. Their products are widely available online and are free of parabens, sulphates, mercury, oxybenzone and other harmful chemicals. And most importantly, since we are saving for travel, they are affordable. I switched from a face serum that cost $40 to The Ordinary’s Buffet Serum which costs $15. 

I estimate that I now save about $30 a month with the changes I’ve made to more affordable serums, moisturizers and cleansers.

Potential monthly savings $30 +

A woman gives herself a manicure

Nails

I’ve never spent a lot of money on my nails but know that even occasional manis and pedis add up. I started doing my own nails because of coronavirus. Even though my local nail salons have reopened, I haven’t returned.

I ordered some nail care products from Olive & June and like their non-toxic polishes.  Check out their online mani bootcamp for tips: Olive & June. It’s all about home manis/pedis around here these days and extra money in the savings jar. 

Potential monthly savings $35 +

A woman sits in a hair salon with her stylist

Hair

Confession time: my hair is my great big savings fail. I get salon highlights in my dark blonde hair  and they are very expensive. I’ve tried to do it myself, I’ve tried cheaper salons. That was a time I was grateful for my hat collection. I haven’t figured out how to spend less and get a result I am happy with so I’ve given up trying. 

I hate spending so much money on my hair, but professional hair colour is one of the things I splurge on. 

What I have changed, however, is my haircuts. My hair stylist is great, and expensive. I now mix up the pricey haircuts with a cheap $15 trim at Supercuts. I ask them to only cut the length, not the layers. 

A dream holiday to Petra Jordan is worth saving for

More Ways to Save for Your Dream Holiday

Honey - Easy Online Coupon Savings

One more way I have recently saved considerable money is with a free online coupon service called Honey. It’s an extension which you add to your internet browser. Once added, every time you are making an online purchase Honey will automatically search for and apply relevant coupons.

There isn’t always an available coupon, but about half the time I get 10% – 15% off, and I’ve had as much as 40% off from Honey coupons. Just don’t let all your clever couponing  trick you into unnecessary shopping.

Cable

With Netflix, Amazon Prime and all the other digital viewing options, do you still need cable? 

Potential monthly savings $60 -$100

Landline

If you still have a landline, do you need one? Once everyone in my family had a cell phone, it was like the landline didn’t exist. Does anyone else hear the phone ringing?! I got tired of answering the phone and checking messages. So we no longer have a landline and I am no longer the family secretary. Win. Win. 

Potential monthly savings $40 +

A black and white photo of a woman answering an old-fashioned phone
Save money by using appliances at non-peak times

Energy costs

Time-of-use pricing is becoming widely offered by energy companies and gives us the chance to save money on our electricity bill. By running the dishwasher or clothes dryer at off-peak times, we are charged a lower rate for the electricity. 

In some places those lower rates are applied automatically. In others, such as Denver where I live, you have to opt-in for time-of-use pricing. Now that we have done that, we save the most money by running appliances between 9 pm and 9 am. Every time I put a load of laundry in the dryer at 10 pm, I think of mountain gorillas and smile. Call your energy company for more information. 

Potential monthly savings $25 +

Library

Do you use your local library? In many places it’s become so convenient to borrow digital books, audiobooks, and magazines from a public library using apps. We love the Libby app available in the U.S. and Canada. It’s well designed, simple to use and connects seamlessly to a Kindle. 

 

I am not suggesting we never buy books, I think it’s important to support writers and authors, but the library is a great way to cut back on the cost of books and magazine subscription.

Potential monthly savings $25 +

A bucket with colourful cleanig products on the floor of a living room

House Cleaning

I clean my own house and that saves a lot of money. Do I enjoy it – no. And my house may not be as pristine as I would like. But I can live with that. 

I am not going to tell you to clean your own house; I say bravo if you have help. I am just telling you what I do. I’ve gotten used to it and the savings boost my travel fund and help pay for my expensive hair colour. And please call ahead if you are coming to visit me. 

Potential monthly savings $150 +

Car Expenses

One of the most significant ways that I am saving money to afford travel is I don’t have monthly car payments. I have an older car and it is paid off. The average lease payment in the U.S. is around $450 a month, that’s $5400 a year, also known as a really nice trip to Europe. 

When I feel envious of someone’s lovely new car, I remind myself that I want to see the world. Can you put off buying a new car and redirect that money for travel? Or could it make sense to change from an expensive monthly lease to the purchase of a used car? Once you pay it off, you might so love having more money for travel that you too will be boasting about your old car.

Potential monthly savings $100 + (more longer term)

A signpost with names of cities stacked on it

How to Afford Travel - one more idea

Renogotiate Your Salary

I find this topic really interesting and would like to do a deep dive on it at some point. As women we are not always good at asking for what we deserve. Statistics show men are better than women at asking for raises. And they tend to negotiate their salary more effectively when they take a new job.

If this is something that is of interest to you, check out: A Woman’s Guide to Salary Negotiation, in the New York Times. 

There are many resources and books on this topic; many of them likely available from your local library. 

A woman on a dream holiday on Safari in Africa

I don’t know about you but I am newly inspired to save for my dream holiday to Africa. Even if we picked a third of these savings suggestions, I think we could probably hit a $200-$300 savings goal each month.

Ultimately though, this is about more than travel. Deciding how we spend and save our money is about empowering ourselves, and aligning our actions with our priorities. 

And I am pretty sure that missing out on a facial, a manicure or a grande latte will feel entirely worth it when we are enjoying the view of the mediterranean from a hike on the coast of Italy, or photographing elephants from a safari jeep. 

We will be living our midlife exactly as we have designed it. Let’s raise a glass to that… and admire our pretty home manicures. 

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About - Midlife Globetrotter

Hey there,

I’m glad you’re here. Can we talk about midlife? I reached my late 40’s, realized my kids were growing up, and adventure began calling in a new way: big travel adventures as well as everyday ones. I want Midlife Globetrotter to be a place where we explore how to add a sense of fun, freedom and meaning to these precious years. Let’s celebrate how far we’ve come, and all that’s ahead.

Susan

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