Most people never make the leap into extended travel because they don’t think they can afford it. They envision needing tens of thousands of dollars- a daunting number to save towards. I remember when I began saving for my first trip around the world. I got a rough estimate of how much money I thought I needed and went “Woah. How will I ever save that much?” But I realize that with a few simply and easy changes to my lifestyle, it wasn’t that much after all and I could save a lot more than I thought, quicker than I thought. If you also fall into that same category of thought, here are some tips for saving money for your trip around the world:

Eat In! Eating out is the biggest of the low hanging fruit. Instead of having $10 lunches and $20 dinners, brown bag it to work and cook dinner at night. Even if you still go out once a week, a person can survive on groceries for around $60 per week. That’s a lot less than eating out every meal. This is the biggest duh! tip and it may be inconvenient to always cook but if you really want to supercharge your savings, changing your eating habit is the biggest thing you can do.

Cut the Coffee. Love your Starbucks? Well, Starbucks doesn’t love your or your bank account. That daily coffee is costing you $150 per month ($5 for a coffee). That’s a week traveling around Asia! If you drink more than one coffee, then think about how that number quickly adds up. Give up the coffee, move to tea, or brew your own cup. Coffee is the little thing that quietly drains your bank account without you ever noticing.

Drink Less. Alcohol is expensive. Heck, even on the road, the biggest money suck is usually a night out. It may not be appealing to spend nights inside and not out with your friends but spending a $100+ dollars a week will really add up. Try to cut down on the night’s out. Have friends over, see a movie, watch TV, create a travel blog, read a book. It’s not exciting but the goal is worth the sacrifice. And if you aren’t a big “going out” person, you’re already half way there!

Lose the Car. Cars cost a lot of money. If you can, get rid of yours. Between gas and insurance, you are probably spending hundreds per month. That money can be used while abroad and it’s not like you are going to need your car when you’re backpacking India. Learn to love the bus, subway, or walk. This tip may not be feasible for everyone but if you can, try to get rid of the car. It may be inconvenient or make your commute longer, but it will save lots of money. Plus, walking is good exercise after all.

Move Out! Get rid of that apartment or bring in some roommates. Lowering your housing costs will allow you to see huge gains. If you can, try to move in with mom and dad. Then you’ll have no housing costs. It may kill your social life but hey, a social life costs money anyways and we’re trying to save. If that’s not an option, bring in a roommate. Turn that living room into a spare room and have a house mate! If you’re spending hundreds per month on rent, cutting that in half or reducing it to zero will give you the biggest whole number jump in your bank account.

Switch Your Bank! Avoid paying bank fees! Get a bank account at Bank of America and use their ATM partners to avoid ATM fees. Get HSBC and use their worldwide ATMs and avoid fees. Get a Capital One account and never pay fees. Fees just drain money out of your bank account and giving $5 to the bar in Australia for a beer is a lot better than giving it to some giant bank. Also, Charles Schwab offers refunds on all ATM fees.

Get a New Credit Card. Get a travel credit card that gives you free money, free rooms, free flights… just something that is free. It’s less money you need to spend later on. The best way to save money is to not have to spend it. There are so many travel cards these days that the offer huge bonuses to attract customers. From free nights in hotels to thousands of airlines miles just for signing up. I have gotten thousands of dollars in free flights from my by racking up rewards points. I have over 350,000 miles and only about 50,000 of them are from flying. The rest? Travel credit cards. Here’s my complete guide to travel credit cards.

Get a High Yield Savings Account. Now that your savings is going up, make it work for you. Don’t leave it in a savings account where you get .5% a month. Even though interest rates are very low, you can still get 2% with some accounts. Get an online money market and actually make some money. It won’t be a lot but a little free money is better than no free money. For online banks, I like Emigrant Direct. Capital One and Discover bank also offer good rates.

Sell Your Stuff Since you are going on a long term trip, you are not going to need a lot of stuff. A good way to save money for your trip is to make extra money for your trip. Before I went away, I sold everything I owned. I didn’t know what I would need when I came back but I knew I needed extra money for my trip. I went online to Craiglist and sold everything I had. I ended up making a good amount of money and it was very helpful, plus it is cheaper than putting everything in storage.

While most of these tips might have you living like a hermit for a bit, the real way to save money is to not spend it. You are going to want to have some life while you are home. The trick is to always find the cheap alternative. Moreover, you should always make your money work for you. When I was home, I invested my savings, I used high interest savings, cash back cards- whatever it took because every extra dollar was more money on the road. At the end of the day, the more you save, the longer you can be on the road. Combined with my tips for life on the road, you’ll be able to save some serious money traveling so you can travel longer and cheaper.

My guide book on world travel can help you save even more money and will give you in depth information on the costs of every place in the world with more ways to save money on before you go and during your trip. PLUS, there are discounts and coupons on accommodation, flights, transportation, and tours worth over $1000 USD!! That’s some serious savings!