If you want to save up for a holiday this summer, it isn’t too late!
If you are getting envious listening to your friends talking about their special holiday plans, do not despair! You still have time to save up for a trip, and it could be a great trip too, especially with the added benefit of last minute deals. This means you could bag yourself a real bargain, which will be sure to rival any of your buddies’ breaks!
Tip 1 – Every little helps – If you think you don’t have any spare cash going, then remember that even small savings can help. Why not ditch the morning coffee, and save that extra cash into an account dedicated to holiday spends!
Tip 2- Separate the accounts out – As mentioned above, dedicate an account to saving. Separate this from everyday spending. If you access your bank accounts online, it is easy to transfer money between your accounts. Some banks even have apps, making it easy on the go. You will be surprised how quickly the money can add up.
Tip 3 – Avoid impulse buys- If you know that you are an impulse shopper, avoid going onto those websites, or entering those shops, that usually make you do that. Impulse buys can eat into money and only provide short-term gratification.
Tip 4 – Look at food and drink spends- Wonga has a great money saving tips page, and three of their food related money tips include: Rather than boil a whole kettle full of water, get into the habit of boiling one cup at a time. This can really save on water if you are on a meter, as well as electricity. They also suggesting planning your meals, “By writing out which meal you will cook on which night in advance, you negate the need for excessive food purchases each week and only buy what you need. You’ll also avoid grabbing a takeaway on nights when you’re unsure what to cook. And if you’re shopping for food items make a grocery list and stick to it!” Their final food tip is to ditch the pricey brands of food, and instead consider buying generic items, “A packet of 30 branded painkillers costs around R70 in comparison to R40 for the same generic medication. They’re probably made in the same factory, have the same ingredients, and do the same job!”
Tip 5- Quit bad habits – Smoke regularly? Maybe now is time to give up. It really can save so much money in a very short space of time. The same goes for alcohol. Why not stop buying your weekly bottle of red, and put that money towards a trip instead?
Tip 6- Be flexible with your holiday needs- Love Exploring gives some great tips for booking last minute breaks. They say that flexibility is key when searching for a last-minute deal, “Keep an open mind and use ‘inspire me’ pages on budget airline websites. Also, don’t dismiss travelling where it’s low season. Remember that hotels and airlines are still looking to make money so they’re happy to fill the spaces available for less. Travelling mid-week and early in the morning or late at night can also cut down expenses considerably.”
Tip 7 – Our final tip is – don’t overstretch yourself. If you really can’t afford that dream holiday away, then don’t get yourself into unnecessary debt. Is a shorter trip more reasonable? What about a stay-cation? Why not start a long-term savings plan to achieve your dream holiday in 2020, instead of 2019? Whatever you are aiming for, the key is to be realistic and pragmatic.
To read more on topics like this, check out the travel category.