Do you ever find yourself daydreaming of traveling to a destination that you've always wanted to visit? Sounds amazing, right? But, how will you manage it financially?

While many people find that saving money can be a daunting task, I disagree. Saving money is achievable, you just need to reevaluate the wants and needs in your life. Once you figure out what you truly need in order to survive, you'll already be on your way towards saving enough money for the trip of your dreams.

Below, you'll find a few of my favorite ways to cut costs around the house and save money for travel.

1. The Money Jar Challenge

Grab an old glass jar, empty coffee can, or water jug and challenge yourself to deposit a daily minimum into your jar. This way, you will have a good estimate on how much money you should have saved on a monthly basis, minus the spare change you toss in on occasion. A great start for the money jar challenge would be to set your daily minimum to $5 or $10 per day. If you can't see yourself being able to afford dropping $5 or $10 in your jar, simply deposit $1 or $2 for the first month. During the second month, you should attempt to increase your deposit to $2 or $3 per day. If possible, continue increasing the daily dollar amount by $1 or $2 each month. Before you know it, you'll have a jar full of money just waiting to be put towards your big trip.

2. Sign Up for a Rewards Credit Card

This sounds counterintuitive, but signing up for a rewards credit card, more specifically a travel rewards credit card, is one of the best ways to save money for travel. While some travel rewards credit cards offer miles and points towards your next flight, others allow you to transfer points into cold, hard cash.

Knowing when and where to use your rewards credit card is extremely important when it comes to racking up travel points. Some cards offer double points on travel purchases, while others offer up to 3 to 5x points for dining out on the first Friday of each month. Knowing the ins and outs of your credit card is incredibly beneficial when it comes to maximizing the amount of points you earn each month. For more information on collecting miles and points, check out The Points Guy.

Tip: If you cannot afford to pay your credit card balance in full each month, skip to the next suggestion and avoid signing up for a rewards credit card.

3. Set Goals and Be Accountable

Setting financial goals can be a great way to increase your savings in the longvrun. If you normally save 10 percent of your monthly wages, why not try to raise your savings to 15 or 20 percent this month? Don't be afraid to set lofty goals. Yes, there is a chance you could fail, but most of the time setting lofty goals gives you that extra push that you need to take your savings to the next level. 

Note: One of the biggest issues with setting goals is figuring out how to hold yourself accountable. If you want to be more accountable for your goals, ask a family member or friend to check-in with you on a weekly basis to see how things are coming along. Sometimes that weekly check-in is enough of a push to get you focused and back on track to saving as much money as possible.

4. Remove Credit Cards From Online Retailers and Shopping Portals

You know those credit card numbers that are attached to all of your favorite online shopping portals for the convenience of lightning fast checkouts? Go ahead and remove them now in order to avoid any irrational or impulsive purchases in the future.

These days, online retail sites offer you the ability to save your credit card information so that you don't have to reenter it the next time you go to make a purchase. While not having to retype your credit card information seems like a great idea, it's not. Retailers save your payment information in order to make it extremely easy for you to spend more money.

5. Track Your Daily Spending

Tracking what you spend each day will help you stay focused on your long-term savings goals. Years ago you would have to whip out your pen and paper to record daily spending, but nowadays smartphones and tablets have made this process incredibly easy. The following personal finance apps are great for tracking expenses: 



Ryan Gargiulo

Once you start to track your daily expenses, you'll quickly realize how much you're spending on things that you might not actually need. Seeing these costs add up on a daily basis will assist you in cutting costs and keep you on track when it comes to saving money for your travels.

If you enjoyed this and you want to learn more ways to save money for travel, I recommend you check out my recent article: Top 25 Ways to Save Money for Travel.

Do you have any tips for saving money for travel? If so, be sure to leave a comment below and share some of your favorite ways to save.

Ryan Gargiulo is the guy behind the popular adventure travel blog called Pause the Moment. He's a world traveler, adventurer, blogger, vlogger and travel coach who has traveled to more than 35 countries across the globe since he left his job back in 2010.

Ryan is one of our travel bloggers for The Opener , an exclusive, invite-only contributor network that will bring the best food, culture and innovation writing to the pages of Coca-Cola Journey.