When I told someone that I’m going on a mini world trip, almost everyone asked: “Wow, how can you afford this trip? I would never have enough money for this.”
First of all: I had no money. During my studies at the end of the month, there was no Euro on my account that I could have saved.

In recent weeks, I recognized that saving money despite low income is quite possible. The most important note that I can give you for a start: An exact goal makes saving money a lot easier. Be sure to define your goal as accurately as possible. “I want to save money for a trip around the world!” is perhaps a nice wish but not very specific.

During my studies, I’ve learned an important factor in setting goals (Yes, I’m also surprised that the content of my studies pays off). Set each of your goals SMART.

Specific – concrete, clear definition
Measurable – verifiable success criteria (e.g. exact numbers)
Attractive – attractive content
Reasonable – realistic implementation
Time-Bound – exact deadline

My goal, which I set in October:

“Until 10th of March, I’ll save 8,000 € on my checking account so that I can fund an Asian tour and to achieve this goal, I will reduce my maintenance costs (food, party weekend, etc.) to $ 100 per month.” 

And you know what? It actually worked! Of course, other points are an important role in achieving the goals (more on that later). But reading this goal on a piece of paper every day on the wall motivates a lot! Now I give you five tips that helped me to save money.

1. Set your priorities correctly
Think about every issue, whether you really want to invest your money or not. Do you really need this expensive Starbucks coffee or would be a cheaper one from the bakery enough? Even better, get up 5 minutes earlier and make your own take away coffee at home. Imagine buying 5 times a week coffee for 3 €. That’s 60 € a month, which are only invested for coffee! (And I’m not talking about any expensive Starbucks coffee with extra cream and caramel syrup)
Of course, on the weekend a cocktail drink would be great. This point was really the hardest for me (I love Mojitos!). But the cheaper option with a wine from the supermarket at home with the girls is also okay. 🙂

2. Live more minimalist
This tip follows from the previous one: minimalism supports saving. Of course, this way of life is defined differently by each person. I talk about saving in terms of material abundance. Clean out your closet! Apart from the fact that you don’t have to take twenty different Shirts on a trip around the world (note: only 21 kilos of luggage and you have to carry your own backpack), you can improve your travel budget online or at a flea market. If you want to go on a world tour: Sell your car, move to a smaller apartment or if possible for a few months back to your parents (can be exhausting but also super nice to enjoy a mom cooked meal, no high costs for rent, internet, etc. and it’s really great to spend time together before your long journey).

3. Work work work
If you work a lot, you can save a lot of money with the right jobs in a short time. Within just four months, I saved a lot of cash in my circumstances. But I also worked on Christmas and New Year’s Eve. When everyone at the Christmas market drank mulled wine, I just stood behind the shops at the Christmas market. Sometimes this may be frustrating – but remember your goal that you have set!

Good to know: If you work like me in the gastronomy, it can be quite beneficial to mention that you are working there to finance a trip around the world. Many customers like to give more tips if they have been served great. 🙂

4. Reduce your fixed costs
The monthly fixed costs such as 10€ Netflix, 30€ Gym, 10€ Spotify pile up themselves. 50€ a month is 200€ extra after four months! Sounds annoying to calculate these costs over and over again. But that’s how the awareness of your own money changes enormously. 200 € are three domestic flights in Asia. So during your savings plan, consider whether you really need Netflix and Amazon Prime at the same time, or if you can life without any of the items.

5. Make a cost calculation
Despite a wonderfully smart goal, it will not work just to move 1,000€ a month to your savings account. Make a cost calculation and a realistic saving plan! In the saving plan, you should set the individual items rather low – the sense of achievement is greater with each more saved Euro and the voice in your head tells you: Whey!

Make a cost calculation before traveling
How expensive are the flights? What will you spend on a daily basis for accommodation and food, depending on the destination? What activities do you want to do?

Then you write down the saving plan, which sets out how to reach your calculated travel budget.
What is your monthly income? What fixed costs can you contain (see point 4)? Is there additional buffer (Christmas, birthday, etc.)? How many months do you need to reach your travel budget?

If you’re serious about your budget and keep an eye on your balance, there’s nothing in the way of your next trip!

Lots of Love ♥