Last week, I referenced a couple of reasons why people talk about a dream trip to Italy ‘someday’, but never make it happen. Money is a huge reason, but it is often prioritizing where you put your money that is the real reason behind not doing a ‘someday’ goal. Much like with time, how we spend our money displays our priorities.
There is no doubt that a trip to a foreign country is substantially more expensive than travel within 100 miles. This fact does not make international travel a pipe dream. Let’s start with priorities in order to make that ‘someday’ happen. Most can agree that there are some non-negotiable priorities for your hard-earned money. Housing, food, and medical care top list for many. This is a no brainer and obviously takes priority over a trip to Italy. I also advocate for spending or saving the money you HAVE. I abhor credit card debt and the idea of instant gratification, “But…I want to go to Italy! Let’s just put it on the credit card…” This is both impulsive and financially irresponsible. I would also argue that you will enjoy your trip and experience many times more if it is ‘prepaid’ (meaning you have saved for it or have the available money earmarked for it before you leave). If you are anxious about each euro that you spend knowing that you will have an amount that can’t be paid off when you return, it will color your experience negatively a bit.
This month is a stereotypical month for getting your life under control by changing habits. Top runners of habits to change are generally focused around eating choices, exercise and activity level choices, spending, and technology use. Many people commit in January to creating, and sticking to, a budget. In our household, I am in charge of creating and maintaining the budget and we have had many budget iterations. I recently found YNAB.com (You Need a Budget) last year and must say that it has turned out to be the best format for me and the way I operate. I have tried the cash in the envelopes method, the Excel spreadsheet method (Argh! That was a disaster!) and traditional paper and pencil. With YNAB, I have conquered my budgeting demons. Mid month changes is one area I struggle; I still overspend in an area beyond what I have budgeted. With YNAB, there is acknowledgement that this happens. There is no judgement and there is no shame, there is just reality. YNAB creators get that we are our own worst enemy and it allows (encourages?) you to shift money from where you have budgeted to areas where you need it. It helps you keep track of your total money and adjust throughout the month. At the end of the month, I have a choice. If there is surplus in a category, I can choose to move it into a category (‘Travel’) or keep it in that category (‘Groceries’, ‘Transportation/Fuel’) as a buffer against overspending the next month. For me, having a budget in general, but more importantly–one that I stick to— has given me an immense peace of mind regarding money. Since beginning YNAB and understanding how to use it, I have stressed out a fraction of what I did regarding money. Yes, I’d like to have MORE (more travel!), but I am secure in what we do have and where it is going. I know our priorities are covered.
A budget is only a first step in getting to your ‘someday’ no matter what that ‘someday’ thing is. Your budget needs to be realistic, both in terms of where you prioritize your money to go but also in terms of how much money you have coming in each month. If you do not have the money you need to cover your basics each month, then one of two things has to happen. You have to adjust your definition of basic or you have to adjust your money. If you are defining dining out 5 times a week and that cuts into the amount of money you have to pay for housing, it is not a ‘basic’ category. Many people resist a budget because they don’t want o face the reality of what they can afford. So, they don’t make a budget and ignore the reality of their income and spending. Your basic priorities need to be covered before you can budget for the ‘extras’. I wish that travel was a budgetary priority for me, but in reality it is an ‘extra’. If I don’t have enough to cover something like a medical bill or an auto repair, I have to raid an ‘extra’ category to cover it. For me the difference is this: If an expense is related to supporting income coming in, then it is a priority. A medical bill is related to my or my husband’s health and our ability to work, so medical expense are a priority. Having a functioning automobile is necessary, at this point, for us to get to our jobs and create income. Thus, this expense is a priority. Travel could be arguably a priority for recharging and regeneration and mental health but I think that is stretching the definition to fit my desires to travel. Recharging and regeneration can be done for no money if need be by sitting in nature or spending time relaxing with my friends.
If the issue is not enough money, then maybe it takes looking at sources of additional income. What is a skill you have that can be monetized on the side? What is a hobby you have that can be monetized on the side? What are some spending cuts that you can make to get your budget and spending more in line with your values and priorities? Are you at the point where you might need a nuclear option of changing jobs and career paths? Often, we think that we have to live a certain way, have a certain car, wear certain clothes and all of that mental junk. There is a great freedom in ending how you care about what others think of you. Both mental freedom and financial freedom are benefits in deciding what is YOUR priority for your money and your life.
Lastly, there might be value in looking into options that cut the costs of travel. There are tons of resources on travel hacks as a way to get travel into your life in ways that are non traditional. Credit card bonus miles are one way. This is an option if you can manage credit cards and pay them off in full in each month. Know yourself; if you can’t do manage them, don’t add to your stress by trying this. Can you get professional development through travel and get your employer to pay for some of your travel? There are a lot of different options, investigate to get a new idea for incorporating travel into your life. I have done the following to feed my travel needs: volunteering, studying abroad, working abroad, joining the Peace Corps (This is admittedly, a nuclear option as well!), travel hacking with credit card bonus miles, going into credit card debt (A huge reason I advocate NOT doing this–learning from experience!) and saving up.
A final note of advice: If travel is important to you, you can find a way to travel. It might be that your ‘someday’ doesn’t happen in 2017. But, if you start a budget and add to a travel fund realistically and consistently, your ‘someday’ trip to Italy can happen…..because you prioritized it and made it happen. What a great accomplishment to have fulfilled that dream and not having it be a life’s regret.
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