Minimizing Spending

Once you have maximized the amount of money you have saved, you also need to make sure to minimize your spending of this money. Think about the normal things you spend money on during the semester. Chances are it includes rent, food, and gas. As mentioned in the savings section, compare your wants verses your needs to realize where you spend your money, and that you could be putting it toward your trip. Here are ideas for ways to limit your expenses.

• Rent can often be your biggest monthly expense. Think about how much money you could save if you lived at home. This could cover your entire trip! For students who aren’t from Tampa however, consider moving into a smaller apartment or one a little further from campus for cheaper rent. Shop around for somewhere else to move next year; some apartment complexes will even give you gift cards for taking a tour!

• Sublease your apartment for your time away. There are a few Facebook pages to help students find people to take over their leases for part of the year. Why would you pay an extra $600 for your apartment during your month(s) away if you could be using that money during your trip. It might be a hassle to put your stuff in storage for a while, but that rent money could allow you to see much more while abroad.

• Stop eating out. Seriously, this one is huge. Remember the quote from the budgeting worksheet, “if you need $2,000 for your trip that is in eight months, that means you only need to save $8.33 per day… Couldn’t you find a way to save $8 per day?” (Kepnes). Think about what you spend $8 on. Is it two Starbucks drinks? A meal at Chipotle? A late night pizza delivery? It will be hard at first to say no to an easy lunch out, but once you start getting in a routine, this can be an easy way to save. Consider meal prepping, making food from Tasty videos with friends instead of going to dinner, and making your own coffee. Then every time you are tempted to eat out, transfer that $8 or so to your travel savings.

• Get apps like Gas buddy or Shopkick. Gas buddy shows you the cheapest places for gas by zip code or location. If you have to rely on a car for work or school, at least you won’t have to rely on your wallet as much. Shopkick is a rewards app that gives you points just for walking into stores. The points can be converted into gift cards that you could use for groceries, gas, clothing, etc. Pinterest is a great resource to find more articles with small ways to save.