Last weekend, I took my first-ever trip to Memphis, a city brimming with rich musical history and vibrant culture. The allure of its iconic Beale Street, delicious Southern cuisine, and legendary landmarks like Lorraine Motel had piqued my interest, and finally experiencing it firsthand was incredibly exciting.
As someone pursuing Financial Independence and Early Retirement (FIRE), I believe in balancing life’s pleasures with financial wellbeing. For those new to the concept, FIRE is about saving and investing aggressively to retire early and enjoy financial freedom. This weekend trip to Memphis was a testament to how small, budget-friendly adventures can seamlessly fit into this strategy. In this post, I’ll share my experiences, budget tips, and insights on how to enjoy travel without derailing your financial goals.
Planning The Trip To Memphis
Going to Memphis was on my bucket list of southern travel spots, and prior to this trip I had never set foot in the city (or anywhere in Tennessee!). I had heard lovely things about the city, the food, and the music scene. The historical aspect also really appealed to me. The final deciding factor was that a friend of my partner had recently moved there, and he was offering us free accommodation.
Meeting up with a cool friend AND free accommodation? Sold!
That being said, I know that not everyone is offered this luxury. In researching activities and accommodations, Memphis appears to offer everything between budget-friendly to more luxurious options. I'm a fan of using Google and the Capital One travel site to seek out good deals and accommodations based on my needs/wants.
In a previous blog post on travel, I wrote about how to make budget-friendly travel achievable while working towards FIRE. I can't emphasize enough how much researching and planning ahead can help with this. (No one likes an unexpected travel expense!) But some quick points to consider when planning a budget-friendly weekend trip to Memphis or anywhere:
Write out a packing list and pack smart (especially when flying)
Decide on your best travel dates
Set a budget for accommodations, food, activities, and souvenirs
Shop around for deals
If you have it, use your travel rewards card
Day 1: Arrival and Initial Exploration
My partner and I packed up our Subaru Forester the day we left for Memphis. In addition to clothing and snacks, we packed up a foldable mattress and pillows since we'd be staying at his friend's apartment.
The drive from Hot Springs, AR to Memphis, TN is beautiful, and surprisingly chill. I'm normally quite nervous on highways, yet this was one of the most relaxing drives I'd ever taken.
In the afternoon we arrive at the apartment of my partner's friend. He graciously drove us to downtown Memphis where we, of course, walked up and down Beale Street. We wandered through a music shop, experienced the shock of seeing the drink stands (apparently open containers of alcohol are allowed!), and dined at Silky O'Sullivan's.
At Silky O'Sullivan's, we enjoyed the outdoor patio and sat next to their goats. (Yes, actual live goats!) My partner's friend introduced me to raw oysters and taught me how to properly eat them. They are his favorite food, and now they are a favorite of mine! But if raw oysters aren't your thing, they do serve a lovely gumbo and pulled pork barbecue plate.
Afterwards, we grabbed cookies and oat milk at Insomnia Cookies. We then drove to Tom Lee Park, found a bench, and looked at the gorgeous sky and water while we enjoyed dessert. If you want a really great view of the Mississippi River, especially as the sun is setting, I recommend walking through this park and selecting a good sitting spot. (Warm cookies are optional.)
We ended the evening by exploring the Memphis Pyramid (also near the river), which houses a big Bass Pro Shops. Shopping spots like this aren't really my thing, but we were convinced to check it out when we heard about the live fish and alligators! There is also an observation deck, an aquarium, and a restaurant. Overall, a good first day in Memphis!
Day 2: Discovering Memphis
My first morning in Memphis, I woke up with an immediate need for coffee (the most important meal of the day, in my opinion). We were all too lazy to drive out somewhere, so we splurged on delivery and got coffee and breakfast sandwiches from Carrington Oaks Coffeehouse. I ordered an oat milk latte (or what the coffeehouse calls a "latte dah") and it was gooood! Worth the 3-hour drive to Memphis alone lol.
Once properly caffeinated, we drove to the Memphis Farmers Market since I love a good farmers market, and it was only a few minutes away from the National Civil Rights Museum (our next stop). We got lucky with sunshine and not-too-hot weather. The produce looked amazing, the crafts made me feel like I was exploring an outdoor art gallery, and sampling chocolate and sweets was a great post-breakfast "dessert". My next purchase occurred at Shari Dixon Jewelry's table, where I fell in love with two derived-from-nature cuffs. I adore wearable souvenirs!
We then headed to the National Civil Rights Museum, which was established at the Lorraine Motel where Dr. Martin Luther King Jr. was assassinated. I don't think my words could ever do the museum a good service, but the experience was incredibly moving. The museum educates about the history of the American Civil Rights Movement through interactive and media exhibits. Even if you're not a museum person, I highly recommend going.
Afterwards, we had lunch at Little Italy Downtown, then gelato at Zio Matto Gelato. Walking around downtown is itself such a lovely experience. If you're into photography, each building is so unique and cool. Looking at street art while enjoying some pistachio gelato just cannot be beat.
After all the food and walking, we required a solid few hours of napping back at the apartment. Once I was a little more energized, I searched for places with rooftop bars, a favorite I've started to develop in recent years after a few lovely rooftop nights in Hot Springs, AR and Madrid, Spain. Because it's close to the Mississippi River, I chose a rooftop bar called Beck & Call (located in the Hyatt on Beale Street).
Y'all, if you love food and cocktails, get ready to splurge here. The teriyaki beef sliders with pineapple cabbage slaw were my favorite. And if you need a vegetarian option, their red pepper hummus plate with vegetables and naan was lovely! After the sun had set and when the temperature was a little cooler, we moved ourselves and our drinks to the rooftop patio. Watching the evening sky, the lights on the Hernando de Soto Bridge, and sipping on my drink was such a wonderful way to end a good day in Memphis.
Day 3: Wrapping Up
The coffee from Carrington Oaks Coffeehouse was so good that I ended up choosing that for breakfast again. This time, we decided to actually go there and dine-in. It was super cute! The breakfast sandwiches are good, and they also offer sweet items such as yummy fruit scones and macarons. We enjoyed the coffee so much that we purchased a bag of their beans, and the staff were kind enough to grind it for us.
We wrapped up the morning by packing our things and taking a quick break before driving back to Hot Springs. It was nice to slowly pack up without the deadline of a hotel checkout. I also enjoyed watching my partner and his friend play rounds of chess.
Usually at the end of a trip I'm excited to return home. However, I was quite sad to leave Memphis...to the point where I started researching homes to move to in the area lol. (That first day made me seriously contemplate moving to Memphis. 😁) Memphis has a wonderful mix of both chill and vibrant energy. The city is stimulating enough where there is never a boring day. But it's still a place where you can relax in many spots, whether it's sitting near the river, driving through cute neighborhoods, or watching the sunset on a rooftop.
Overall, if you enjoy music, southern food, and a good mix of city and river scenery, Memphis is for you. It's worth taking a weekend trip to see.
Budget Breakdown
I feel like this is a more unusual trip because our expenses didn't involve the standard things like a hotel room. My personal budget for a weekend trip is usually between $450 to $600, depending on where we're going and what activities we want to do. Usually food is our biggest expense (we love to eat!), with accommodation being the next most expensive.
For this trip, my goal was to stay under $500. Staying with my partner's friend for free gave us A LOT more room in our budget, especially to enjoy some good Memphis eats.
ITEMS | COST |
ACCOMMODATION: Free! Thanks to my partner's friend letting us crash in his living room! (We brought a foldable mattress, pillows, and sheets.) | $0.00 |
FOOD (including tips): Silky O'Sullivan's ($48.18 for 2 adult meals and a drink) Insomnia Cookies ($9.05 for one deluxe cookie and oat milk) Carrington Oaks Coffeehouse, through Uber Eats ($51.69 for 3 lattes, 4 breakfast sandwiches, and 2 sides of hashbrowns) Little Italy Downtown ($75.78 for 4 adult meals) Zio Matto Gelato ($8.44 for double scoop gelato) Beck & Call ($162.41 for 4 appetizer plates and drinks) Carrington Oaks Coffeehouse ($39.30 for 3 coffees, breakfast sandwiches, scones, and a bag of coffee to bring home) | $394.85 |
GAS: (filling up for a round trip between Hot Springs and Memphis + driving around Memphis) | $25.10 |
PARKING: Near Beale Street ($24.15) Near the Hyatt ($4.95) | $29.10 |
SOUVENIRS: Shari Dixon cuffs from the Memphis Farmers Market | $32.70 |
ACTIVITIES: My partner's friend used his student discount and was kind enough to cover our admission to the National Civil Rights Museum. (Normally tickets are $20 per adult.) We "reimbursed" him with lunch. We also opted for free adventures like walking through Tom Lee Park, checking out the Bass Pro Shop at the Pyramid, and wandering through downtown. | $0.00 |
TOTAL | $481.75 |
Some tips if you're wanting to save money on travel:
Aim for a quick weekend trip. Shortening the time will help to reduce the overall costs of stay, food, gas, etc.
Seek out discounts. At the museum we went to, there were discounts for admission for student, veterans, and seniors.
Shop at a grocery store over dining out. If you have access to a kitchen and fridge (like we did), this is a huge help! Meandering through a local farmers market is also a lovely way to experience the culture of where you're staying in.
Plan out where to park. The first day we made the mistake of overpaying for parking (near the super popular Beale Street). On the second day, we paid less than $5 for parking when we went to the rooftop bar overlooking the Mississippi River. A quick Google search could help narrow down the areas that offer free or inexpensive parking.
Drive if you can. It takes more time than flying, but we had great views, a lot of space for packing, and having access to a car meant we didn't have to rely on Uber or Lyft or a rental. If you happen to enjoy car camping, this can be another way to save on accommodation costs.
Some tips if you're into more luxurious travel on a budget (like me!):
Aim for accommodations near locations that you know you'll want to check out. This might be a hotel within walking distance to a farmers market, or one with a rooftop view of the river.
Take advantage of what the city already offers, such as nature parks. Parks are nearly always free (including the parking), are a great place to get in some exercise and sightseeing, and offer lovely nature escapes. Tom Lee Park in Memphis was easily one of my favorite spots for the beautiful plants, view of the river, and easy walk.
Eat mindfully. Food is often a large expense for people, both on and off vacation. Be choosy about your food (especially if it's on the expensive side.) Really opt for something that aligns with what you want, such as healthy, tasty, etc. You can also get more variety if you make a meal of appetizers versus getting a larger plate. If you go to a place like the Memphis Farmers Market, you might luck out with some samples like we did, and it gives you a chance to get some local goodies.
Drink mindfully. If you happen to drink, alcoholic and non-alcoholic beverages can really add up! During the trip, the only alcoholic drink I had was a whiskey cocktail at the rooftop bar. If I had purchased a drink for every single meal (a favorite activity during my twenties), I don't think I would have savored the experience as much. We also stayed hydrated with our reusable water bottles given the summer heat.
Purchase souvenirs with a purpose. Souvenirs are an area where mindless spending could easily come up. When looking at something, really consider its purpose. Will you wear that piece of jewelry or t-shirt again? Will you really enjoy that bag of sweets or coffee? If the item is an investment in your short-term and long-term happiness, it's likely worth the purchase.
Conclusion: How Trips Like This Support My FIRE Journey
There are many understandable criticisms about the FIRE movement, two of which are:
Extreme frugality leading to sacrificing one's enjoyment or quality of life.
Extreme focus on money metrics, and less on life beyond finances (such as personal fulfillment and wellbeing).
I suppose it's not super fair that I use the term "extreme" for both of these criticisms, and I can see how people can quickly burnout when trying to cope with deprivation and/or a lower quality of life. But let's say that you're in the camp of folks that has no choice (meaning that you are close to or in poverty). Temporary deprivation might be survivable for a short time, but it's not always the most sustainable approach. We all deserve to have a good quality of life, and we also deserve good health and fulfillment.
We need our moments of enjoyment to keep going, and taking breaks is especially important for one's overall health. Trips like this keep me going for a few reasons:
Travel helps me to take breaks from work. It can be hard to pull away from work, but when I do, I realize how much I need my life outside of work. If you're a healthcare worker life me, you know how easy it is to burnout if you're not careful. A mental refresher can be so recharging, and can help you to keep your work going when you return to "real life".
Reconnecting with loved ones and friends is important. These trips provide a valuable opportunity to spend quality time with those who matter most, strengthening relationships and creating lasting memories.
Embracing both financial planning and life enjoyment reinforces my mindful spending habits. By carefully planning and budgeting for trips, I practice financial discipline while still allowing myself to enjoy life’s pleasures. This balance helps me stay on track with my FIRE goals without feeling deprived.
Traveling (especially with loved ones) reinforces my "whys" for this journey. Every trip reminds me of the ultimate reasons for pursuing FIRE: to have the freedom to spend more time with loved ones, to explore new places, and to live a life rich with experiences.
I hope this post inspires you to incorporate more budget-friendly weekend trips into your life, or that it helps to reaffirm any "whys" for your own financial journey. I'd love to hear about your own travel or financial experiences!
Commentaires