The NM Case Study Project: Shifting Mindset and creating budgets

The NM Case Study Project: Shifting Mindset and creating budgets -

A few months ago I announced a new case study program in which I would work with a cross-section of readers and help to plan it and carry through its travel, so that they create through all stages of travel planning walking and a road map to their dream. And I said that on the way, I would share their stories as a way to inspire and help you to plan your own trip.

four months ago, I to the case study participants, and now it's time to update on their progress! I am thrilled to share with you their stories.

Jianne

Jianne is a 27-year-old office worker from Manila seeks a -week taking two holidays next year. Life in the Philippines, they do not have access to travel hacking, but has introduced a wealth of visa restrictions and a weak currency. And her family will not allow them to Airbnb her apartment list we had to get creative.

But the first step was always Jianne to change their attitude, because it is a bit of a spendthrift. She likes to buy! My first goal was to get it on a budget and change their spending behavior. We had only to its output needs to maintain and reinforce the idea that any additional spending delayed their trip.

You may not know what to cut, if you do not know where the money goes, so I Jianne to track all their expenses so we could see where the low hanging fruit was. We immediately cut back on movies, food, taxis and their purchases. Jianne had pursued never get their money, so once we saw it was also a lot of small things they trim without changing their lifestyles back could.

Initially Jianne strongly began, but in the last couple of months, they stumbled. She kept her expense tracking, walked a little more, and a total of fell out of the car. But perfection is not the goal, and she realized her mistake. Now she's recommitted and has to work since started harder to tracking and cutting their costs. To put it in her words:

In recent months, we have tracked down and tried to reduce my costs. At first it sounded easy, but when I began to do, it was harder than I thought. It was my unnecessary costs helpful targeting - not just for the trip, but as a personal habit as well. I realized that you need to identify and focus on what your priorities are when you try to spend even just for a snack.

Shifting, as you can see and spend money a difficult process. We undoing many bad habits, and I was expecting a couple of dips. But we are back on the right track. And that is important to remember - it is easy to create these new budget and think you are going to change overnight - but you're not. It takes time, and if you stumble, it is better to take a step back, realize your mistake and start over. Jianne may be monetarily closer on their journey, but she is mentally much closer and I feel we have turned a corner.

Diane

Diane, a 59-year-old from Canada is on a fixed income. She and her husband live in the country on their pension. There is no way for them, their income or take advantage of many sharing economy as Airbnb to increase (and that's not something they really want to do anyway).

Diane dreamed for years on trips, but never really thought it was in their grasp. How Jianne, Diane had to find a way to reduce costs so that they can save most of their limited income. She has a retirement savings account, but we want to, because the last many years to come not in the tapping, as much as possible!

As with Jianne we began to pursue their costs. She got a cheaper phone plan, heard out to eat, began her meal plan unavoidable needed food, buying, holding unnecessary purchases from the dollar store to make. Since it is in Canada, we can begin their one TD Aeroplan card, so they collect miles for a free flight to Australia next year. This is really important, because, as it is on a fixed income, there is only so much we can save, but since we a year until she goes away, that gives us enough time to get miles for free flights. Diane was to leave money on the table by paying with a debit card for their spending.

Diane has worked really hard and has incredible results seen. She went from saving per month $ 20-50 CAD to save above $ 500 CAD! She has learned to make everything as "That takes away from my trip", and her family has really been on board to do with her this.

Most importantly, it is satisfied to reduce her husband on his smoking. This is not only phenomenally from a health perspective, but financially it saves them a lot of money that can go to their Australian dream trip. After her husband realized how much he spent on cigarettes and how much this meant to his wife, he cut back a lot of

Here are her own words about their progress .:

for over 10 years I have said that I want to travel the world, and thanks to Matt, I can now say that it will happen. He has helped me guide through the obstacles of thinking I have not enough time or money. He showed me ways to reduce unnecessary costs, which helped fund my travel and live even better when I get back. My husband enjoyed his smoke cleared, I got my first credit card rewards, and finally feel like I'm making progress towards my dream trip to Australia next year.

The Diane given fixed income, there is not much we can do but cut costs. We already saved $ 3000 and at the current rate we ll more $ 5,000 Add to their bank account.

Jeremy
Jeremy has decided to bow out of the case study program. I hope that he gets to where he wants to go!

Sander and Jolien

This pair of Holland is in great shape. They work until they go away, and they make more than enough money to make their journey. You do not really need my help on the financial side, although I have better helped them get their money's worth tracking (what they like to do), create a separate bank account for their savings, and work up an ideal budget for their trip. They are relying on the right track with a lot of funds in June. Here she is in her own words.

We have with Matt worked for more than four months He helped us look at our finances worry. In this way we were able to reduce our costs, unnecessary costs such as coffee canceling to go by the station or ice. Matt gave us a good tip: class all costs, you want to do. If you grade it a 7 or higher, you are allowed to buy it. Lower, you can not. This is something that we need to work constantly, because it's really easy to buy something on impulse.

When I got in a thrifty attitude to move, we have our calls reduced once a month check-ins, but in January we are in flight, gear start looking, insurance, work visas, and everything else.

The Brandon Family

In addition to these above-mentioned updates, today I will introduce the Brandons, new members of the case study program. I wanted to win a family, to show that there will be not only to young or traveling alone.

The Brandons a middle-American couple are from Indiana with two little sons. The man, Michael is retired and his wife, Jennifer, is a teacher, a year take time out to explore the world with her sons before her oldest high school enters.

Jennifer will do most of the planning, so I'm going to work with it, how for four, get to save in travel hacking to earn points and miles and booking and practical aspects of travel deal. You have no debt beyond their mortgage and save approximately USD $ 2,000 per month, while 10,000 have already registered for the trip $. When they want to spend a long time in Europe, they have a long way to go before they leave in September 2016!

I think it is a good example for other families will be, although they might not see a year of planning, can get away to afford such a trip for four people, cut their costs and benefits do Travel reduce hacking flight and accommodation costs!

This is all progress. The first real step towards successful world travel is to get your finances in order. This is the challenge in the last 3-4 months. But now that everyone is on the right path and to save money, we can move to the next stage and start planning the actual travel. That's where the real fun begins

Until the next update

-! Matt

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