She Strengthens

Breaking Free from Financial Constraints: How I Saved for the Trip of a Lifetime

As a young adult, I often felt left behind as my friends shared exotic travel experiences on social media. But it wasn’t a lack of adventure that held me back – it was a lack of funds. After landing a full-time job, I knew it was time to make a change. I set my sights on a dream trip to Iceland, but I needed a plan and a budget to make it happen.

Creating a Budget That Works

Living at home allowed me to save a significant portion of my paycheck, but I knew that wouldn’t last forever. With plans to move out by summer’s end, I had to factor in savings for the move, phone bills, and credit card payments. To make my trip a reality, I had to cut back on unnecessary expenses like cheap clothes and limit my social life.

Aggressive Savings Plan

Time was running out, so I made a commitment to save $1500 CAD each month, over half of my paycheck. It was a tough goal, but I knew it was necessary to reach my target. To make it work, I prioritized my spending, allocating funds for commuting costs, student loans, gas, groceries, and even opened an RRSP to secure my financial future.

Monitoring My Spending

Sticking to my budget required discipline and effort, but it paid off. I discovered unnecessary expenses like lunches out and coffee shop visits, and made small changes to save big. By packing my lunch and making my own tea, I was able to cut back significantly.

Planning the Trip of a Lifetime

Iceland is a unique and expensive destination, so I knew I had to prioritize my spending. I decided to splurge on activities like whale watching and tours, but cut corners on eating and drinking out. I found a hostel with airport pick-up and planned to make use of the kitchen to save on food costs.

Tour or Rent a Car?

As a first-time solo traveler, I opted for a guided tour to ensure safety and convenience. After researching tour companies, I chose G Adventures, which catered to younger travelers and prioritized adventure. I even snagged a 15% discount through Flight Centre, which sealed the deal.

Lessons Learned

My aggressive savings plan was worth it, but it required sacrifices. I learned that travel agencies can offer valuable discounts and packages, and that sometimes, it’s worth splurging on experiences. By staying in hostels, planning free days, and focusing on one country, I was able to save thousands compared to my friends’ European getaways.

Patience Pays Off

Do I regret not traveling during my undergrad? Sometimes, but I know I made the right decision. I waited until I was financially ready, and now I’m reaping the rewards. I’ve come to enjoy monitoring my savings and planning for my next adventure. The wait was worth it, and I’m excited to see where my financial discipline takes me next.