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A 27-year-old who saves 65% of his income shares his 7 best tips for traveling on a budget

Aug 25, 2024, 16:46 IST
Rick McCharles/FlickrIt's easier than you think to build travel into your permanent budget. (The Money Wizard is not pictured).By the time he was 16, the blogger behind the Money Wizard - who goes by the pen name Sean online - had already started saving for retirement.

More than 10 years later and the 27-year-old's net worth is $170,500 and counting. It's all part of a plan to retire by age 37, but he's not depriving himself to get there, he says.

He's currently earning a salary of $80,000 as a financial analyst in Minneapolis and saving about 65% of his take-home pay to contribute to his 401(k), IRA, and index funds. Still, thanks to smart spending habits, Sean says he lives comfortably and travels at least once a month.

In 2016, he took a dozen round-trip flights in the US, which included skiing in Lake Tahoe and Utah, a weekend trip to Cape Cod, and a summer national park trip out West.

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Below, the Money Wizard shares with Business Insider his best tips for saving money on travel.

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