As a young traveller, being financially independent is the biggest challenge I face before I go backpacking or climb onto my bike and set off into the unknown. Once I got a stable job, I decided to stop borrowing money from my parents and started funding my own tours. It hasn’t been easy, but slowly and steadily, I have picked up a few tricks of saving up for all my adventures. Here are some that you could use, regardless of the way you travel.
1. Choose a pocket-friendly destination
The overused phrase ‘it’s the journey that matters, not the destination’ is the ideal way to describe the travels of a touring cyclist. But when you start from scratch, it’s the budget that matters and not the destination. When planning my itinerary, I have to settle for countries where Indian currency is valued decently, if not higher. Sri Lanka, Bhutan, Tajikistan, Vietnam, Thailand, and Laos are some of the few countries my bank balance allows me to cycle in.
2. Develop a definite savings plan
Once I zero-in on the destination for my next tour, the first step I take is to figure out how much it’s going to cost me. Over time, I’ve realised that I need to spend about Rs 1,400 to endure an entire day in India. Depending on how that would translate overseas, I fix a budget and work my way towards reaching that target.
The next step is to calculate my daily expenditure in the city. How much do I need to spend on groceries, bills, and all other variable costs? It’s important to make sure that you don’t splurge recklessly. Be aware of where each rupee is going. Money saved today is money you can spend travelling.
3. Open a new savings account
To ensure I don’t spend any of the money I’m tirelessly earning, I set up a separate savings account. I put in a fraction of my salary before the month starts. Subsequently, any extra cash that comes my way goes straight into this piggy bank. Set aside that money and ensure you don’t touch it, regardless of the situation. Remember, travel before anything else!
4. Spend time with like-minded/financially responsible people
This is where I save up the most. I choose to spend time with friends who have a similar lifestyle. No doubt, it feels almost impossible to cut-off from friends who don’t have financial goals similar to mine. But to keep that bank account from shrinking, it is a decision that I have to take. No questions asked.
5. Work towards a healthy lifestyle
Cycling long distances makes you want to lead a healthy lifestyle, so it wasn’t too hard to stop splurging big bucks on a day-to-day basis. I’ve put an end to spending money on fancy bars, fine dining, and expensive groceries. Ordering in isn’t an option anymore. I eat whatever my help cooks, no matter how tasteless the food might be. I quit smoking and only spend on cheap beer when I feel like drinking. Cigarette prices started soaring, so it was reasonable to drop the habit altogether. These are simple hacks which add to my savings. It’s difficult to say no to friends and colleagues, but it has to be done. After all, the road less taken always reaps more benefit!
6. Avoid unnecessary expenditure
Do I really need a new pair of trousers? Is my mobile phone outdated? These are some questions that need to be answered, keeping in mind that you only have limited resources, irrespective if it’s pay-day or not. I rarely order lunch at work. The office provides breakfast and evening snacks, so the window to spend is that much smaller. While returning from work, I stopped buying expensive shakes and switched to a couple of bananas and coconut water. It is important to differentiate between needs and wants, so as to spill out money when I need to, and not when I want to.
7. Commute on a cycle
The most natural way of saving money is to commute on my bike. It helps me to keep fit and to get around without spending a single rupee. By cycling to work or to friends’ houses I save up nearly Rs 300 on a daily basis (that’s nearly Rs 7,500 per month!). For everywhere else, I take the metro. Cabs are simply not an option if you’re trying to cut costs.
8. Reduce utility bills
Since I live alone, I’m financially self-supported while in the city. I have the cheapest internet plan there is on offer. Minimal use of the air-conditioner in the summer and using three blankets instead of a heater in the winter are ways I try to reduce the electricity bill. I sent my television back home so there is no cable connection to pay for. All of this contributes substantially to the financial goal that I set for myself. I love to read, so I started buying second-hand books and borrowing from friends and public libraries.
9. Opt for a cheap style of travelling
There are many options when it comes to picking a style of touring. One option is to have a back-up vehicle follow you at all times. It carries all your belongings and food stock. Some even prefer to have a masseuse come along. It’s out of the question to even consider this possibility, so I lug the entire load myself. For me (and my wallet), it’s the purest form of bike touring. Being alone allows me to be more flexible, so I don’t have to think twice if I feel like taking a detour through a forest or a mountain trail.
Carrying a tent and a cooktop also helps in keeping a cap on the financial goal. No money is spent on overnight hauls. In case I’m forced to, I ensure the room is the cheapest option in the town. Very rarely do I splurge on meals while travelling. If I ever do, it’s a well-deserved sit-down dinner. While I almost always relieve myself in the woods, I knock on people’s front door for freshening up, hoping they will help out a rather foul-smelling cyclist! Sometimes there is no sign of humanity for miles on end, so I resort to bottle showers.
10. Earn while travelling
There are various options for a touring cyclist or a budget traveller to earn money whilst on the move. Various magazines and newspapers—digital and print—offer grants for travel articles. Pictures and videos shot with specific camera brands also count for a fraction of my savings. If you have something unique to share about your experience, there’s no dearth of opportunity out there!
I wouldn’t recommend living like this for a very long time because a saving lifestyle can have downsides as well. But for the few months that precede an adventure, I urge you to save up and start pursuing your dream destinations!
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