How I Saved $$$ in a Year

Back in the fall I discussed saving for travel and how it was very much possible if you budget well and make it a priority. Well I followed those exact rules and am now pleased to be departing to the UK with around $10,000.00 that I successfully saved in a year. The BIGGEST reason that I made this happen was because I worked out how to budget the amount of money that I would need to save per month, within my one year time frame.

I made sure to be realistic, and allow myself room for entertainment during the month, and as well for emergencies. Being realistic is important because otherwise you will either stretch yourself too thin, (which may work for a couple months, but for a year, gets tough) or be disappointed when you cannot make your savings goal because other items come up.

For the most part, I met my goal every month. There were a couple times that I had to adjust one month, and make up for it in the next. Excel became a best friend in this situation, it really is a great tool for building a budget and working with numbers.

The other part of building my budget that was important was adding in the big purchases I would have to make before leaving.
A portion of these were fees: SWAP Fee, Travel Insurance, Flight, First two weeks at hostel
The rest were big ticket items that I wanted to buy beforehand: New Camera, Tablet and Luggage

I got a break with the flight, as I used my miles for it and only had to pay the taxes. My mom gave me an Ipad and I got a wicked sale on the camera I purchased. Lastly, the luggage did end up being fairly costly as I purchased a new suitcase and a travelling backpack (details in later post).

Because I was able to pre plan out these expenses, very few surprises came up during the year and very little was left unaccounted. This meant that my budget planning went very smoothly in the past year and I was able to meet my goal!

So as I said, I should be heading off to London with around $10,000 CAD in my bank account. I want that amount to end up being saved to fund my out of country travels. I hope to only go through a tiny portion of that to get settled there, but if I go through more then that is ok. The great thing is that I have a really large cushion to support me in case things do not go as planned in the working world. However, if all goes well then that money will lead me to many adventures around that side of the world.

EEEP I am so close!

– xoxo Veronica 

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1 reply

  1. “building a budget and working with numbers” – brings a tear to my eye, as I feel that somehow, in some way, I played a part in twisting your mind towards accounting – LOL. Way to stick to your guns and follow your dreams, Vee. You’re going to have an amazing time. But … don’t be surprised if people who read your blog start asking to borrow money … 😉

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