With rising cost in almost every aspect of our day to day living expenses and the economy on a never ending downward spiral, people feel as though they will never be able to afford the luxury of a holiday. The constant financial stresses of these increasing costs, actually raise strong arguments for holidays being needed now more than ever.
While holiday costs can easily get out of control some careful planning before and during your trip will help make your holiday affordable and just as enjoyable.
If you have experience travelling in the past, you should have an idea of your spending habits and travel style. This will allow you to put together a rough budget of expenses for the number of days away and you can plan on saving some money each month in preparation. Saving money each month can be achieved by following these few simple guidelines.
· List for a few weeks everything that you spend, you will be amazed at where your money is going,
· Set up a separate bank account for your holiday and have a set amount of money put in there each month. If saving over a long period, invest chunks into higher yield term deposits,
· Any work bonuses, tax refunds or money wind falls of any kind, put them straight into your holiday account – you hadn’t budgeted on these so you don’t need them for day to day living,
· Use credit cards to your advantage but pay off the balance in full at the end of each month,
· Cut your daily expenses such as, coffee, lunches, cigarettes, alcohol. Make your own coffee (so many of us have coffee machines at home – use them!), bring your own lunches – make extra for dinner and take left-overs or spend a few minutes making a sandwich or salad , entertain at home (costs much lower than eating and drinking out). Over a 48-week working year this really adds up!,
· Don’t buy the latest season’s clothes and shoes as soon as they come out, wait a few weeks and the stores will be having sales and you can save at least 30%,
· Ask yourself constantly, “Do I really need this”? Perhaps even wait a day or so and re-visit the item you though you really had to have and relate the cost to some part of your trip – that could be another night of accommodation, a day whale watching, a nice meal out or for shopping while away,
· Sell any unwanted/unused items laying around and put money into your holiday savings account,
· Give your services or skills as a gift instead of buying expensive presents,
· Get your whole family or travel group on board so you help each other save and
· Check regularly the balance of your travel saving account – you will be inspired to see how quickly it grows!
With a little bit of careful planning and creative thinking your next holiday could be even bigger and better with these imaginative ways to save up for that trip.