The only thing better than the excitement and anticipation of a vacation is the holiday itself. For a lot of people, going on vacation is the only thing that keeps them going through the stresses of everyday life. When they go to work and they are feeling bored and uninspired, they look out of their window and dream of hot climates or extreme sporting activities.
In order to have all the fun you dream about, you need to have the money. Saving for your holiday can be difficult, but if you are clever with your saving tactics then you will be just fine. Here are our tips for realistically accumulating holiday money.
- Set a goal
When saving money for your holiday it is always recommended to set a goal. If you have a target figure in mind then you will have something to work towards. This will give you inspiration and keep you on track. If you don’t set a goal then you will find it hard to get going and you may find you don’t save the amount you need in the end.
- Open a new savings account
You should open a new savings account and use it for your holiday fund and nothing else. This allows you to see your funds clearly. You can keep your funds segregated and manage everything a lot easier.
- Be savvy with food shopping
How much do you spend on food shopping every week? Let’s say this figure is £100. From now on you should start and use the supermarket’s own brand goods. Also, make a shopping list – and stick to it. By doing this you will ensure you buy everything you need without any unnecessary goods. You will see that the cost of your shopping will have gone down significantly. You can then use the change from the £100 and put this towards your holiday fund.
- Sell some stuff
Spend a few hours sourcing out things in your house that you no longer need. Host a car boot sale or sell goods on an auction website. It is a cliché, but every little bit does help. If you have a game console you don’t use, then sell it. If you have jewellery you don’t wear, then sell it. It is as simple as that.
- Do I need to do this?
Do you need to go to the cinema tonight? Do you need to have a takeaway? If the answer is no, then use the money you would have spent and put it towards your holiday fund. You will thank yourself later.
- Be exchange rate savvy
A lot of people fail to meet their holiday money goal because they lose too much on the exchange rate. You need to find a company that offers good exchange rates. They should have a credible reputation and they should provide various services, including travellers’ cheques and alike. Furthermore, you need to keep an eye on the rates for a decent period of time. Leaving it until the last minute won’t do you any favours.
- Make savings when booking your holiday
You can end up spending way over the odds if you do not shop around when booking your holiday. Click here for more information on how to find high-quality accommodation at low prices when going abroad. Do your research and shop around for the best deals.
So there you have it: follow the tips above to save for your next dream vacation!