Guide to Saving Up for Your Grad Trip!

If you wish to fund your trip independently without hurting your bank account, here's a general guide on how to save up for it:

1. Choose your destination(s):

Where do you (and your friends) wanna go? For how long? Be it a one week trip to Japan or backpacking across parts of Europe for a month, it’s helpful to research potential destination(s).

Some areas of consideration would be travel expenses, climate when you’re visiting, language(s) spoken, currency used, political stability, transport accessibility, etc.

2. Set a Budget and Timeline

Estimate total expenses:

After finalising the destination, estimate your travel expenses by** **including the costs of flights (depends on airline and ticket type), accommodation (depends if hotel/airbnb), activities (depends on interest), food, transportation (depends if private/public) and souvenirs.

Create a budget:

Understand how much you are willing to spend on your grad trip. It differs for everyone. Personally, my budget is 20% higher than total estimated expenses (in case I wish to spend more on shopping or souvenirs).

Set a realistic timeline:

How long do you have to save for the trip? (eg. If you’re planning to travel in June 2025, you have about 6 months from now to save up)

Calculate your monthly savings goal:

To do so, divide your travel budget by the number of months you have to save.

Example Destination: Tokyo (5D4N)

3. Increase Savings and Maximise Returns

Grow your Income:

Explore opportunities like tutoring, or a paid internship. Park the additional income in a HYSA to earn more interest, assuming you wish to protect your initial capital / have low risk tolerance.

Look for travel discounts:

Utilise student discounts and travel deals, especially for bigger items like flight tickets and accommodation. (Singapore Air offers student privileges here)

4. Stay Motivated

Visualize your dream trip: Create a vision board (eg. Pinterest) to stay motivated.

Reward yourself: Treat yourself when you reach your monthly savings goal.

Share your progress with friends: Get support and encouragement from your friends!

If you’re on a tighter budget,

• Choose budget-friendly accommodations: Consider Airbnb rentals.
• Cook your own meals: Go grocery shopping instead of eating out every meal. (especially if the city you’re visiting has a higher COL or if you’re planning to travel for a longer period of time)
• Try free activities: Explore parks, beaches, museums with free admission days, and cultural events.

• Travel off-season: Avoid peak seasons for cheaper flights and accommodations.

Additional Tips:

• Travel in a group: Split accommodation, transportation, and activity costs between friends. (Utilise apps to track expenses eg. Splitwise)
• Use travel reward apps/cards: Earn points or miles that can be redeemed for travel expenses or cashback. (eg. Shopback, Krisflyer)
• Get competitive rates: Use a card with competitive foreign exchange rates (eg. YouTrip)

Note: This is a general guide on how to save up for your dream grad trip. Take what makes sense to you.

It’s time to make your dream grad trip a reality! What other tips do you have to save for a grad trip?