Money

The Points Guy: Invest in travel. It makes you richer

Brian Kelly, "The Points Guy"
Michael Buckner | Getty Images
Brian Kelly, "The Points Guy"

The founder and editor-in-chief of The Points Guy Brian Kelly doesn't just travel for his blog, where he shares tips and tricks on how to maximize trips. He also does it because he believes he will get more out of it than buying something material.

"I think the quote someone told me is that travel is the only expense that makes you richer," he tells CNBC.

He offers a similar piece of advice forthe Council for Economic Education's #MySavingsTip campaign:

"Travel makes you a better person," he writes. "Save for trips, not things!"

Kelly's first eye-opening experience along these lines came when he studied abroad in Madrid for six weeks and left wishing he had signed up for six months. The entrepreneur, who made a career out of writing and traveling, says being away changes your world view.

Even if it enriches you, though, costs of travel can add up quickly. Self-made millionaire Grant Cardone warns against traveling too much too early, because it can derail your career or leave you broke.

Kelly believes that, as long as it is done responsibly, travel is worthwhile. He suggests starting by getting debt-free. Then, set a budget and and stick to it.

"Instead of buying expensive clothes, put money towards travel," he suggests.

Signing up for the right credit card is what could help you save even more. His current favorite is Chase Sapphire Preferred, but he recommends checking out a list of options before you sign up and checking out the sign-up bonus as well as how many points they offer. Also important is making sure you can hit the card's minimum required-spending figure.

"It's all about getting the right credit cards, and you have to be disciplined you have to pay your bills in full," Kelly says.

Once you're debt-free, paying your bills regularly and benefiting from frequent flier miles, you can beat the system, he says, "and that will change your life."