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3 steps to save for your holiday.

November 27, 2015

One of the hardest parts of going on a holiday is saving money to spend.  I like to put a photo of the destination up to give myself motivation on what I am saving for.  The countless number of brochures lying on the coffee table seems to help as well. 

 

Step One - Set a $$$ goal

This step will probably be the most time constraining one to do, but it’s almost as fun as going on holiday.  It’s time to do some research on where you want to go.  Within this step you want to look at the cost of accommodation, food (breakfast, lunch and dinner), activities, travel costs around town or between towns and to and from the airport.  To give you a rough guide, you can budget at least $50 a day for a shoestring budget and about $100 a day for a more Champaigne diet.  This step does not include the big expense of a flight.

 Step Two – Determine the amount you need to put away each week

This is one of the easy steps to complete.  It will allow you to break down the large budget into a smaller, more achievable goal.  Let’s use an example of heading on a 2 week holiday in four months.  The amount you will need to save is $700 on spending money.  This will work out at $43.75 per week.  Not an impossible amount to save.

 

 

Step Three - Sacrifice

 

This will be the hardest part of the guide.  Look at your daily spending on everything and see where you can save money.  A few things which steal from your holiday fund are:

 

  • Buying lunch at work (this can equate to $7-$10 per day or $35 -$50 per week)

  • The morning Coffee (cut yourself down to one a week or bring coffee from home)

  • Go out for 2 drinks instead of 5 (saving for your holiday doesn’t mean you need to leave your social life behind)

  • Buying new clothes (think of all the clothes you can buy from your new destination.  These ones will also have a story attached to it)

If we look at the above you have already saved enough money each week to have an amazing holiday.

 

A few little tips to help you are:

  • Use a credit card, but use it wisely.  I have made my credit card work for me and actually have the bank giving me more money than it costs me.  Contact me to find out how.

  • Draw a picture and colour in your savings each week.  This shows to yourself you are making a dent into the savings goal.

  • Keep a photograph or a cut out from a brochure of where you want to go.  This way, every time you open your wallet or purse, you have a reminder of what you are saving for.

 

If you have any questions, please feel free to contact me or leave a comment on our Facebook page.  Remember to sign up to our free membership to gain extra information.

 

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