With the rising cost of living continuing to squeeze household budgets, new research from Moneyboat has revealed the true price Brits are paying or struggling to pay to tick dream destinations and experiences off their travel bucket lists.
The money experts at Moneyboat conducted a survey of 1,000 UK adults uncovering that while wanderlust remains strong, affordability is putting once-in-a-lifetime experiences out of reach for many.
How much does a bucket list trip really cost?
Over half (53%) of UK adults have investigated how much their dream trip would set them back. Of these, 66% found it would cost over £3,000, and a third (33%) estimated needing upwards of £5,000.
Millennials were the most proactive in researching costs, with 73% having looked into how much they’d need to save. Conversely, 67% of people aged 55–64 have never explored the cost of their dream trip.
Location also plays a role. Residents in Belfast were the most likely to research (66%), while 68% of those in Norwich have never checked. In Edinburgh, nearly half believe their dream destination would require more than £5,000.
What’s stopping people from booking?
Despite strong interest in travel, financial constraints are holding many back. 36% of respondents said they aren’t currently able to book their dream getaway. The most commonly cited reason? The rising cost of living flagged by 38% of those surveyed.
The impact is felt across the UK. In Cardiff, 67% of respondents say they’d currently struggle to afford a bucket list trip, while 47% in Bristol also point to cost-of-living pressures as a major barrier.
Over half (53%) of 33–44-year-olds admit they’re worried they may never be able to afford their dream travel experience due to ongoing financial strain.
How long does it take to save?
Some Brits are still managing to save, despite the squeeze on finances. Around 23% are putting aside £100–£200 a month, with 29% expecting it will take one to two years to afford their trip. A further 24% believe it could take up to five years.
Londoners are leading the way in monthly savings, with 19% managing to put away over £300. Meanwhile, in Newcastle, 40% say they’ll need up to two years to reach their travel savings goal.
Those aged 33–44 are saving the most each month, while 45–55-year-olds are saving the least. Respondents aged 55–64 estimate it will take them the longest to save enough.
Top tips to help Brits save for bucket list travel
To help make travel dreams a reality, Moneyboat has shared five practical ways to boost your savings:
- Clearly define your goals
Set realistic and specific savings targets — for example, “Save £300 by December for a trip to Norway.” This makes your goal more tangible and achievable. - Practice monthly budgeting
Track monthly expenses and subtract them from your income to see what’s left. Try cancelling unused subscriptions or follow the 50/30/20 rule (50% needs, 30% wants, 20% savings). - Start a side hustle
Selling unwanted items, freelancing, or pet sitting are accessible ways to earn extra income in your spare time. - Open a dedicated savings account
Set up automatic transfers into a separate travel fund — even small, regular deposits can add up over time. - Take advantage of deals and discounts
Subscribe to airline and booking site newsletters for early access to sales and consider travelling off-peak to cut costs.
With nearly half the nation dreaming of watching the Northern Lights, and many others hoping to experience an African safari, relax in the Maldives, or explore the Great Wall of China, bucket list travel clearly remains a top priority.
And while affordability may feel like a challenge, small savings steps and smart budgeting can help make that once-in-a-lifetime trip more achievable.
If you’d like to find out more about how much a bucket list really costs, please visit: https://www.moneyboat.co.uk/blog/the-real-cost-of-bucket-list-travel/
