Disclaimer: The methods I outline here have worked for me, but they may not be right for everyone. Your financial situation is unique, and what works for one person may not work for another. This is not professional financial advice—just a look at the approach I personally use.
We’re pretty average. We’re not wealthy, but we also aren’t wondering where our next meal will come from (unless I’m dieting…) I’ve been fortunate to live a life where my needs have always been met, and I don’t take that for granted.
I have found that traveling has INCREASED the gratitude I feel in my life for the comforts and stability at home. It’s hard to travel to places like Peru or Thailand and NOT come home with a greater appreciation for clean running water, reliable electricity, and a fridge full of food.
That said, making travel a priority means making cuts in other aspects of my life. I have an unfinished basement, and my backyard needs some major excavating and landscaping. But I haven’t found the money to do these things because I keep spending money on traveling. It’s a matter of priorities.
Of course I would LOVE to live in a mansion, have a backyard pool, a personal trainer, chef, and house cleaners AND travel the world. Until I hit the jackpot, that’s not my reality. So I focus on making my money work for me.
I have two basic approaches to financing a trip. Both include opening a credit card that offers a 0% introductory rate. This is a trick that credit card companies do NOT want you to know!!!
IMPORTANT: This method is not risk-free. If you don’t pay off the balance in time, interest can add up fast. You should only use this approach if you are highly disciplined, organized, and feel confident you can pay in full before the 0% period ends.
Approach #1: I need $10,000 for a trip I’m planning, and I do NOT have $10,000 right now
Step 1: Evaluate your finances. What amount of money can you reasonably set aside into a savings account each paycheck? Can you set aside $385 per paycheck for a year? If you get paid every two weeks, that’s 26 paychecks a year. $10,000 divided by 26 is about $385.
- If you can set aside $385 per paycheck for a year, continue to step 2. Otherwise, cut your travel budget until you can afford to set aside the appropriate amount of money per paycheck in one year
| Travel Budget | Amount per Biweekly Pay Period |
|---|---|
| $10,000 | $385 |
| $7,500 | $290 |
| $5,000 | $195 |
| $2,500 | $100 |
Step 2: Open a high-yield savings account. Set up an automatic transfer into it with the amount determined in Step 1. The transfers should coincide with your pay periods.
Step 3: Open a credit card that offers a 0% introductory rate. Use this card to book your trip NOW! Enjoy the benefits of having your money work FOR YOU! While you are enjoying your trip you haven’t really paid for yet, the money that will ultimately pay for the trip is earning interest that you get to keep!
Step 4: Pay the MINIMUM payment on this credit card every month. The minimum payment depends on your card agreement, but is typically 1-3% of the balance.
| Card Balance | Minimum Credit Card Payment (if 1%) |
|---|---|
| $10,000 | $100 |
| $7,500 | $75 |
| $5,000 | $50 |
| $2,500 | $25 |
Step 5: Payoff the card IN FULL before the 0% introductory rate ends! Make sure you understand the card agreement and have a plan in place to pay in full BEFORE the interest rate increases!
And that is how you:
- Pay for a trip you don’t have the money for right now
- Take advantage of a high-risk credit card system without paying any fees or interest
- Earn extra money off of the money earmarked to pay off the card
Approach #2: I HAVE $10,000 for a trip I’m planning
Let’s say you get a big tax return or a year end bonus and you want to use it for travel. Why spend it now when you can have that money working for you?
Step 1: Open a high-yield savings account. Dump that whole amount right in there and let it start earning interest!
Step 2: Open a credit card that offers a 0% introductory rate. Use this card to book your trip NOW! Enjoy the benefits of having your money work FOR YOU!
Step 3: Set up an AUTOMATIC payment to pay the MINIMUM payment on this credit card every month. The minimum payment depends on your card agreement, but is typically 1-3% of the balance. Set it to come directly out of your high-yield savings account where the money earmarked for this trip is collecting interest.
Step 4: Payoff the card IN FULL before the 0% introductory rate ends! Make sure you understand the card agreement. Schedule the final payment BEFORE the interest rate increases!
And that is how you:
- Take advantage of a high-risk credit card system without paying any fees or interest
- Earn extra money off of the money earmarked to pay off the card
BE CAUTIOUS
Keep in mind that getting into credit card debt is nothing to take lightly. I can hear Dave Ramsey screaming at me as I type this.
- As of mid-2025, about 46% of American card holders carry a balance on their cards from month to month.
- As of mid-2025, about 13.2% of Americans have more than $10,000 of credit card debt, with about 9.3% owing more than $20,000.
- Making minimum payments on credit cards long-term can stretch the payoff timeframe to decades. Paying only 1% on a $20,000 balance plus compounding interest can take over 35 years to pay off.
Are there safer financing options for going on a trip?
Obviously, the safest is paying for your trip using money you have set aside in savings. You just won’t get the benefit of earning interest.
Collateral-based lending is much less risky, such as auto or home equity loans. Do you have the title to a car? Taking out a title loan has a much lower interest rate than a credit card, and it gives you a fixed-payment plan. However, if you don’t make your payments, your car is taken away. The other downside is that paying interest is nonavoidable.
Golden Rules for Using 0% Credit Cards to Fund Travel
Taking advantage of credit cards with a 0% introductory rate is my preferred method so I can earn interest on my money for an extra year before paying for the trip. This can easily turn into a financial trap if you are not disciplined. I have found for myself that this is a sweet spot between handling finances wisely versus recklessly.
It ONLY WORKS if you:
- Pay your minimum payments on time to avoid late fees
- Pay the balance in full before the introductory rate expires
- Do NOT take out cash advances on the card that result in extra fees and different interest rates
- Keep the payoff funds in a high-yield savings account
The key is to EARN interest, not PAY it!
Packing for Adventure 