The only way to make my dream of a new life, of traveling the world, is to PLAN, PLOT and CONSPIRE. Clearly I will need a nice little nest egg to make it happen.
Saving money is not something I do well.I see money as a free flowing entity. Not that I have a lot of money to just spend at will. But I have found a place where I see money like sunshine. It is great when you have it, but I will survive when it’s gone and it will eventually come back. As a result, I do not worry about my money or my spending. I live within my means. Which means I buy NOTHING on credit. I am already in a pretty good place with my money. But if I want to save several thousand dollars, I will need to set aside some money and get creative with my spending – to have more to stow away.
Each week I plan to spend part of my Sunday plotting and planning how I can save more. [see the links on the right for what I’ve done each Sunday]. For example, last month I started a new spending rule. Spending Rule #1: No non-consumable items over $25. I’ve done pretty well on with this rule so far. But I am still spending WAY too much money on useless stuff.
I started a savings account several months ago, with an auto-deposit from my paycheck – the only way for me to save is not to see the money. But I will have to do more. I will have to save pennies and find creative ways to save and earn money so that I can accumulate the necessary funds.
I’ve read countless articles on how much it costs to travel the world for a year. The answer tends to range between 14K and 36K per year. I’ve set my goal on the lower end.
As for my nest egg – here’s what I am shooting for…