Lauren and Steven of Trip of a Lifestyle share their inspiring journey of budget travel, proving it doesn't have to be a luxury. They discuss overcoming common misconceptions about travel costs with clever financial hacks. From a 45-day road trip to exploring every national park, they highlight their adventures on less than $100,000 combined income. Discover their frugal dining strategies, innovative budgeting methods, and how they've successfully embraced freedom over traditional financial success—all while working remotely and living life to the fullest!
Travel should not be viewed as a luxury, as this perception often delays our adventures and diminishes our travel skills.
By embracing minimalism and saving a significant portion of their income, Lauren and Steven achieved financial independence and early retirement.
Innovative travel strategies, like using campers and cash-back options, allow for affordable exploration while maintaining flexibility and maximizing savings.
Deep dives
Understanding Cheap Travel
Traveling is often viewed as a luxury that many people delay due to perceived high costs. However, the guests, Lauren and Steven, emphasize that viewing travel as a luxury can hinder one's ability to become adept at it. They advocate for adopting a belief that travel can be achieved affordably, as evidenced by their own experiences. Their journey demonstrates that with planning and a commitment to exploring, one can travel extensively without breaking the bank.
Frugal Living and Financial Discipline
Lauren and Steven cultivated a habit of saving 60-80% of their income early in their careers, which was influenced by their frugal college lifestyle. This discipline arose from their satisfaction with a modest lifestyle, even as their incomes increased. They experienced an early understanding that investing their savings could lead to greater future financial independence, allowing them to envision a lifestyle free from long-term employment constraints. Their approach showcases how adopting minimalistic living principles can lead to significant savings and investment potential over time.
Smart Travel Strategies
Lauren and Steven utilize various strategies to travel affordably while enjoying their experiences. They often travel in a camper van, which eliminates lodging costs and allows for greater flexibility with their itinerary. They also highlight how long-term rentals, like their six-month lease in Hawaii, can equate to comparable costs as living at home when planned accordingly. Their ability to adapt their travel methods, such as renting out their home during trips, emphasizes the importance of innovative approaches to sustain a travel lifestyle.
Leveraging Credit and Discounts
The couple opts for cash-back over points when using credit cards, as they believe cash offers greater savings opportunities. Their frugal style often dictates creative ways to save money, including breaking down larger expenses into smaller, more manageable ones, particularly when dining out. They share specific examples of how menu hacks can significantly reduce meal costs, demonstrating that thoughtful decision-making can create substantial savings over time. By treating expenses as opportunities for savings, they illustrate a proactive approach to managing travel costs.
Finding Purpose in Work and Travel
Despite retiring early, Lauren and Steven chose to engage in entrepreneurship as a means of staying productive and living out their passions. They emphasize the satisfaction that comes from working on a business that reflects their interests while also serving a community. Their decision to donate any income from their blogging ventures showcases their commitment to ethical practices, prioritizing values over profit. This illustrates that work can be meaningful and fulfilling, allowing them to maintain financial stability while pursuing a lifestyle of exploration.
Unfortunately a LOT of us view traveling as a luxury. It’s something that isn’t necessary, and so because of that we choose to delay our vacations, which means that we’re actually not all that good at traveling when the time finally comes. It’s like any activity we perform infrequently – we probably suck at it! And to make matters worse, if we see travel as a luxury good, that also means we think it’s necessary to spend a ton of money on it as well, which our guests today have completely disproven. We’re joined by the couple behind Trip of a Lifestyle, Lauren and Steven, who are going to share how they travel on the cheap. Here’s a quick and dirty summation of some of their notable milestones: they embarked on a 45 day road trip after college, then rather than honeymooning in Hawaii for a week they stuck around for sixmonths. Shortly after that they purchased their first home, in cash, all while making less than $100,000 combined! They’ve traveled abroad, visited every national park in the US, and they both retired from their full time jobs at age 29. Listen as we discuss everything from menu hacks while on the road, to bigger discussions around giving yourself “permission” to pursue the kind of life that excites you!
Want more How To Money in your life? Here are some additional ways to get ahead with your personal finances:
Knowing your ‘money gear’ is a crucial part of your personal finance journey. Start here.
Sign up for the weekly HTM newsletter. It’s fun, free, & practical.
During this episode we enjoyed a Brew Daddies by Steady Hand and Mutation Brewing! And please help us to spread the word by letting friends and family know about How to Money! Hit the share button, subscribe if you’re not already a regular listener, and give us a quick review in Apple Podcasts or wherever you get your podcasts. Help us to change the conversation around personal finance and get more people doing smart things with their money!