HOW TO SAVE MONEY FOR TRAVEL ON A LOW DISPOSABLE INCOME.

By Wangui Nzele.

7th December 2022.

Helllooo! Long time no blog. But I am bacckkk :)

On this blog post we will cover something that I really enjoy doing! Travelling. Also, as you know, finances is something I’m very passionate about, so finances plus travelling = Financial planning for travelling 🤯

I will share a habit that has really worked for me in the last two years or so when it comes to travelling despite having a low disposable income. Let's dive right in!

1. Plan around off peak travel time.

2. Book cheap flights.

3. Book your flights and accommodation when your browser is in incognito mode.

4. Change money outside the airport.

NO NO NO. That’s not what we are going to do here. Those tips are VERY helpful, Lord knows I have searched for flights and accommodation while on incognito mode, BUT! We are talking about your finances before you even plan for travel.

For that, I have two words for you, SINKING FUNDS! Specifically, A TRAVEL SINKING FUND.

Having a travel sinking fund is how you will travel, without the financial stress and strain, on a low disposable income.

This will work for you if you enjoy travelling and you don’t want to take a huge chunk of money out of your pocket at once to cover the travel expenses. Also, if you are the spontaneous type, the ‘I see it I want it' type. Then this will work very very well for you.

Definitions first. A sinking fund is a sum of money set aside for future expenses. So, basically, you set aside an amount of money per month, or even per week that you will eventually use to cover your travel expenses.

Click here to read more about a sinking fund. What it is, why you need it, how and where to set it up.

This method is so practical and real for me. I have had travel sinking funds for more than two years now. I set aside money before making travel plans or even knowing where I am going and eventually use the funds when I decide to go somewhere. The best thing about having a sinking fund, you barely feel the effect of setting aside that Ksh. 2,000, 5,000 or even 100 bob.

Let us run some numbers then, shall we? After looking at you your income, expenses and disposable income, you decide to put side Ksh. 5000 per month. That will total to Ksh. 60,000 for the whole year. Think of all the places, just locally, you can go with that amount of money!!!

I’ll give you an example: I hiked Mt. Kenya In April 2022 with roughly Ksh.35,000. Imagine, such an experience by setting aside only Ksh. 5000 for 7 months.

According to a well-known Kenyan travel agency, you can go to Mombasa, an all-inclusive trip with ksh. 23,500 for 5 days.

That money will come in handy when you get invited for a road trip that’s a day away or when you hear about great travel deals like the one that I’ll mention shortly.

You get what I am trying to say??? You get to explore and travel but without the effects of paying the entire cost at once. All this because Haba na haba hujaza……… kibaba!!

Let’s run some greater numbers. Ksh. 20,000 per month that will total to 240,000 per year. You can go to South Africa or Dubai with half that amount.

ISN’T THAT JUST LIKE SAVING?🤔 In one way or another yes, it is. The key difference is, if you love and enjoy travelling, you are actively making the choice to set aside finances for travel every month, every week. Whether you have travel plans or not.

After constantly contributing to your travel sinking funds, when travel comes up you’ll be good to go. Because the funds will already be available, you won’t need to break your current budget or make sacrifices in order to travel. Also you won’t need to go into debt to travel because, it’s not the smartest thing to do ( but that's a story for another day).

Now, onto the great travel deal I mentioned earlier…..

Some friends and I hiked Mt. Kenya in April 2022. Yho! Adventure of a life time. Of course, me made it to the summit.

After Mt. Kenya, which is the next mountain to hike?? Mt. Kilimanjaro, daaaaaaaah 😂😂😂😂😂

So we start looking at the prices and…….. and as a hiker, why was it going to cost me as high as Ksh. 80,000 to hike Kilimanjaro?? That’s quite high, considering you are up in the mountains, so the accommodation is huts, and the food is pretty standard.

And that’s where the idea was born!!!!!! WE NEED TO FIND A WAY TO MAKE THIS TRIP AFFORDABLE. And we found a way!!

It would be unfair and selfish if we didn’t share this with other young hikers who just want to see the world, just like us, so……

Presenting to you 🥁🥁🥁🥁🥁

Finance on Command

Adrenture Kenya

Baiskeli Center

Life of Grow

Mamba Hikers

Bike and Hike Mt. Kilimanjaro is a 5 day event where you will either hike or bike the mountain with the rest of the team. This will happen between 5th and 12th April 2023. The dates mentioned are inclusive of travel days.

For more details or any inquires, you can reach out to any of the partners by clicking on the brand names above or send me an email.

I am a part of the planning team as a young lady who enjoys travel and hiking, also as my brand, Finance On Command. FOC ( with the help of the team of course) will be in charge of all things finances (( How will you pay, where, payment plans, record keeping)), marketing and some admin work.

My travel sinking fund is ongoing, preparing for Mt. Kilimanjaro. I hope to see you there!!