Travelling the world is an ambition that many people share, but few get the opportunity due to the costs involved. However, taking simple steps to increase your income and save money can make all the difference between a staycation and an amazing vacation. Jason Hartman offers tips and advice for anyone – regardless of educational background or prior investing knowledge – to earn income through investment rental properties. It is an excellent way to supplement your current income to set aside additional income for your current or future travels.

Cutting back on current expenses is an added option for saving money for travel in the United States or abroad.

1.       Reduce utility spending: Take a shorter shower, line dry your clothes on warm days, open the windows to create a breeze rather than running the air conditioner, drop your thermostat by one degree in the winter, or let your hair air-dry rather than blow-drying it. There are many ways to save on your energy and water bills, simply by using them less. The small efforts really add up to noticeable savings.

2.       Use your car less: Save on gas by carpooling or taking the bus to the store or work. You can also ride your bike or walk to nearby locations that you would typically drive to, which is better for your health and your wallet.

3.       Cancel your gym membership: Speaking of walking or riding your bike, why not save even more money by canceling your gym membership and pick up cycling or running instead? You can even invest in home gym equipment and still save money that would normally be spent on a gym membership.

4.       Pack your lunch: Even if you’re only spending $5 per day on lunches, which most likely it’s closer to $15, you’ll be saving a lot over the course of a year simply by packing your own lunches. Brown-bag lunches do not have to be boring tuna fish and a brown banana, either. Get creative. Use Pinterest for adult-friendly packed lunches or make extra for dinner and freeze it for a lunch later in the week.

5.       Give up Starbucks: Everyone enjoys a Double-Shot Whipped Mocha Latte every once in a while; but if you spend $3 to $5 per day indulging in coffee drinks, you are wasting money. Calm your caffeine addiction with home-brewed coffee and save your bills for that Caribbean vacation instead.

So start saving money today and contact Jason Hartman to learn how you can acquire investment rental properties as a means of additional income. You’ll be on that tropical vacation before you know it!(Top image: Flickr | USDAgov)

Tags: how to save money for vacation, Jason Hartman, passive income, staycation, The Jetsetter Show