What’s Your Travel of a Lifetime? Open a Savings Account to Make It Come True

Posted on February 12, 2018 | By Anna Yarmoshchuk

Everyone has a place they dream of appearing in one day. Or maybe you belong to those nomads who buy a one-way ticket and roam the world farther and farther… until they come back home from another side of the globe. You may imagine yourself hitting Australian waves with your surfboard. Or starring at Mona Lisa in Louvre. But you are still far, far away from your dream… without a budget. Travels cost a pretty penny, and you need a realistic saving plan to fulfil your travel of a lifetime. (Something more realistic than winning the lottery or inheriting a fortune from an uncle you didn’t even know existed.) We’ll show you how to open a savings account that helps you save up for your dream adventure 5 times faster. But first,

Where to take money to save up for a trip?

Tip number one: become an ascetic. We don’t mean giving up pleasures of civilization totally and living in a tent. In our situation, it means understanding the real value of things and buying sensibly.

Every single day, we fork out lots of money on things marketers impose on us. For example, you are going to buy one more pair of fancy flip-flops or jeans… Measure how much it costs in terms of travel. Maybe you are just going to blow a day trip budget of your future journey.

Everyone has their own cash suckers. Car, nights out, smoking, impulse buys, dining out, services like washing, taxis and so on. We don’t suggest you must cut them out totally… But limiting your pleasures can save you lots of cash. Do your own washing and walk or cycle instead of driving. Take meals and snacks from home or take a roommate to reduce your rent and bills. You can continue the list.

The blogger Rebecca Foster (who is a marketer herself) suggests giving up a pricey “coffee habit”. In a monthly perspective, it may cost us a plane ticket.

You don’t have to stint yourself forever. Think of these limitations as like you just postpone them until you get to your destination. Your efforts will pay back powerfully when you will be savouring your cup of coffee at the gourmet coffee house in, say, Vienna. Or enjoy a crazy night out in Thailand. Or bring a pair of exclusive flip-flops from, say, Hong Kong.

Of course, such measures won’t make the whole trip budget. You will need a sound saving plan and probably even financing to reach your travel budget. But it’s still an opportunity to save up for more entertainments out there.

Tell others about your dream

Saving up for a trip will be easier if your family and friends know about your goal. Real friends will understand why you refuse to have a night out in an expensive club and maybe even compromise choosing a cheaper option. Or perhaps your parents or friends will consider giving you money for your next birthday instead of presents.

Open a savings account with a loan feature

Savings accounts aren’t all the same. The interest rate differs from bank to bank and so do other features. Your most winning option would be to open a savings account that features no maintenance fees and offers a high-interest rate. Also, check out an opportunity to borrow against savings while searching for your best online savings account. You can find all these features in MOMBO’s savings account in Kenya.

How to open a savings account with MOMBO?

Download the MOMBO App from your OS store and become a member in minutes. After enrolling, you start growing your monthly deposits at the 6% annual percentage yield. We ensure you never lose a penny on maintenance fees and other hidden discharges. After three months of saving, you can request a loan worth 5-fold your accumulated savings. With the MOMBO’s high-interest savings account, you don’t have to wait until you gather the whole amount needed for your trip. You can set off once your savings reach one-fifth of your travel budget.