How to Travel and Still Build Wealth with your 9-5 Job

How to Travel and Still Build Wealth with your 9-5 Job

In today’s fast-paced world, the desire to travel is often at odds with the need to maintain financial stability. Many individuals find themselves torn between pursuing their wanderlust and building wealth through their 9-5 job. The good news is that with careful planning and strategic decision-making, it’s entirely possible to achieve both goals simultaneously. Get ready to learn how you can still travel while building wealth for the future and not draining your savings.

1. Pay yourself First

The first step to building wealth is to pay yourself first. I’m sure you’ve heard this saying before. It doesn’t mean to run out and go to nice dinners every other nice or buy yourself a new pair of shoes or a new iPhone etc. It means to put the money aside for what YOU need to do and what your goal is.

If you have student debt or credit card debt, that is the #1 priority that needs to get paid off ASAP. Debt is the #1 fastest killer of building wealth, you should be pumping money towards paying off your debt.

After that you should be INVESTING your money. If your employer has a 401K company match, you need to be getting that company match at least. I put 20% per paycheck into my 401K towards retirement, plus I still put money into my Roth and other investing apps as well. you don’t need to be making $100K + a year to do this, you can do this with any amount that you’re making.

Set up automation so that when you get paid, that money is automatically taken from your account and put into an investment account and you don’t even know it’s gone. Whatever money is left over is what you should be living on.

So your investments are already taken care of and you don’t have to worry about that, you’ve put money towards your debt, now you have to pay rent, food, utilities etc. But even before that, set money aside in a travel / vacation fund! I set aside about $30 every week into a separate account that is dedicated for traveling. After a couple months before my trip, my flight + accommodation are already paid for and I don’t even have to touch my savings or checking, just use the money in your travel fund!

2. Maximize Your Paid Time Off

Make the most of your vacation days and holidays from work by strategically planning your travel adventures. Instead of taking sporadic trips throughout the year, consider consolidating your time off by planning vacations around holidays to embark on longer journeys or explore multiple destinations in one trip. If you take 4 days off the week of Memorial day for example, you are technically getting 9 days off if you include Memorial day and the weekends. This is called PTO Stacking and it’s incredibly effective! This allows you to make the most of your travel experiences without sacrificing your career.

3. Travel on a Budget

Traveling on a budget doesn’t mean sacrificing quality or experiences. Look for affordable accommodation options such as hostels, Airbnbs, vacation rentals, or house-sitting opportunities. Check out my article on why I love AirBnbs HERE Be flexible with your travel dates to take advantage of off-peak pricing, and consider alternative modes of transportation to save on costs. Get the cheapest car you can if you have to rent a car and walk whenever possible.

Also bus tours are terrific options as well when traveling to a new area . they take care of the transportation and they will take you to all the hot spots as well

4. Prioritize Experiences Over Material Possessions

This is one of my favorite ones here. Instead of splurging on material possessions, prioritize spending your money on memorable experiences and adventures. Traveling allows you to broaden your horizons, learn about different cultures, and create lasting memories that enrich your life far more than material possessions ever could. I drive a 2014 Nisaan Altima. I paid $11K for it in cash. It has under 50K miles on it and has great gas mileage and everything I really need. I see so many people, and a lot of my friends as well drive in round in brand new cars or new leases where they’re paying $500 – $700 a month for brand new cars or fancy trucks and it just makes zero sense to me at all. If you enjoy that and your car makes you happy, then go for it. I would rather have an extra $600 in my pocket every month and take a once in a lifetime trip to another part of the world.

Clothes, shoes and trying to keep up with the Jones’ is what makes people poor. There is a saying that is “Rich people are rich because they act poor, and poor people are poor because they act rich” and this statement holds completely true. If you’re trying to show off to your friends with fancy new clothes or shoes and a brand new car or Iphone, then that is just going to make you poor. If you prioritize experiences over material items, then you will have way more money to be able to take those trips and hold those memories and experiences forever

When people ask how I afford my trips, I tell them I don’t have a car payment every month, I don’t spend money like it’s going out of style, I put money away for travel, I invest in retirement, I maximize my PTO days, I look for cheap accommodations and I prioritize experiences over materials.

In conclusion, traveling and building wealth with a 9-5 job is not only possible but also highly rewarding. By setting clear goals, creating a budget, maximizing your time off, traveling on a budget, earning passive income, and prioritizing experiences, you can strike a harmonious balance between your financial aspirations and your wanderlust. So go ahead, embark on your next adventure with confidence, knowing that you’re investing in both your present happiness and your future financial success.