Skip to main content

He's 23 and has already saved $35,000 to travel the world. Here's how

Name: Martin Jurak

Amount saved: $35,000

Reason: As a 23-year-old university graduate, Martin wants to go into the job market debt-free and save for a dream trip where he'll visit every country in the world by the time he's 30.

Story continues below advertisement

How he saved it: Martin went to Queen's University for their commerce program and used every summer to save up around $5,000 in internships and co-op opportunities. He would work full time Monday through Friday and then worked a part-time job on the weekends. He also gave up vacations in the summer and going out downtown during school (around $100 every outing). He also cut out buying daily coffee ($2-5 a day) to add an extra little bit to his savings. "You don't really go out on the weekend, or go on any trips, but I think it's worth it in the long run," he says. "Sure, you're missing out, but if you have a goal in mind, the short-term sacrifices are worth it."

How long it took: Seven years

What he would do again: Martin uses his credit card everywhere he goes and downloads his statement at the end of the month to see where he can cut unnecessary costs. He makes improvements month-to-month and puts money where he needs to based on his goals. He also splits his money into different accounts based on his needs while keeping a large chunk in an investment account.

Why was it important: "I think the freedom associated with it is worth it compared to always being stressed about paying a bill or meeting a monthly payment. Being financially free is an important goal for me."

How I Saved My Money is a new series from The Globe. Let us know what you think in the comments.

Report an error Editorial code of conduct
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed.

If your comment doesn't appear immediately it has been sent to a member of our moderation team for review

Read our community guidelines here

Discussion loading…

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.