Saving Money for the Cycling Expedition
Saving money is not a hard thing to do… In theory, at least. The equation is, in fact, very simple.
Money Earned – Money Spent = Money Saved
The problem comes in actually doing it!
Saving money involves discipline, concentration, opportunism and very occasionally going without those things that we might otherwise like to do, eat, drink or buy. Discipline is in fact as important as the equation itself.
Getting into the mindset of saving money for my next cycling expedition comes in waves. Some months I am so into my work (both day job and online work), that I have little time to spend money, and so I save it automatically. Other times, such as the last couple of months, I have been more interested in enjoying myself with holidays and days out that I haven't really thought about saving money. I am thinking about it now though!
I am firmly back into money saving mode, and will have a fairly strict three months leading up to the New Year. I also intend to maximise what I can save, and this can be done in three ways.
Increase the amount of money coming in
Reduce the amount of money going out
Invest what money I have
Using a combination of all three, I hope to increase the size of my travel fund. I will be keeping a daily log of how much I spend each day, starting from tomorrow (the 1st of October), and I will update this on the travel blog everyday. This is as much a way for me to keep track of what I am spending as anything else! I will be recording only money that leaves my bank account or wallet – Credit card transactions I will record only when I pay the bill off (which I always do in full). Over the coming month, I will also write a Saving Money Tips blog post which others may find useful. Here we go then…