Creative Ways to Save for Travel: Move to Latin America

by Kyle Hepp

So the last time I blogged for Lost Girls World, I had just married my Chilean husband, was adjusting to life as a newlywed expat in Chile and trying to save money for a trip around the world.

Well, guess what I’m doing now – still trying to save money for a trip around the world. No surprise their, we’re planning a major trip that should last for 1 to 2 years, so we need major cash.

My husband and I paid off our wedding and our previous credit card debt in December from 2007, and from there we started socking away every extra penny. It took all of 2008, but we currently have about $21,000 in the bank. I’m proud of how much we have saved, but I know we have a long way to go to reach our trip goal of 60k (10k for an emergency fund and 50k for making our way backpacker style through Latin America, Europe, Asia and Australia).

The Lost Girls were hoping I could give a little advice on how to save money for a big trip like the one we’re taking, so before I created this post, I thought long and hard about what to tell you.

I could list off the typical tips – Stop going to Starbucks and put all your latte money in savings, put all your change in a jar, create a budget, don’t eat out, etc.

But, the truth is my husband and I haven’t done any of that. We live like ballers in Chile and we’re still saving. We’re not financial rockstars in the sense that we make really wise investments or know a lot about banking and money. The big secret is, we live in a third world country and I make a first world country salary.

So yes, I’m telling you that before you even take your big trip or whatever it is you’re saving up for, you should move to Mexico, or Chile, or really anywhere in South America. Santiago, where we live is actually one of the most expensive countries, but this strategy is still working for us.

Because honestly, living costs in developing countries are much lower. And if you’re creative you can think of a way to make a U.S. salary and work that to your advantage. I currently own my own destination wedding photography business, blog for 4 different companies and I do online operations for a mystery shopping company. Where there’s a will, there’s a way.

My working hours are crazy, I bust my arse to make my money. It’s worth it. Within two years we will have saved up for the trip of the lifetime. And we’ve done so while continuing to maintain a high quality of life – living in a nice loft, going out regularly, continuing to travel on smaller trips, and having a maid come once a week. Are you jealous? Well then, move to Chile!