Tips on how to save money for your next holiday

Saving the amount of money needed for your next holiday can sometimes feel like an impossible task. From the costs of flights, accommodation and everything else, it can sometimes feel like it’s out of reach. Here, we’ve listed some of the best ways to save money for your next holiday. By taking a few simple steps you should be on your way to saving for your next trip in no time!

  • Creating a separate savings account-If you decide to leave a certain portion of your wages in your account in an attempt to save, it won’t work for most people. The best thing to do is open a separate account, a savings account, that you can transfer money into for no cost. This way, you can’t impulse buy with your savings, and you can watch it grown over time which is really encouraging.
  • Create a budget- Creating a budget is the best way to ensure you hit your goal. Think about how much you will need for the entire trip. This way, you’ll be able to get a good idea of how much you will need to be putting away each week or month to make sure you save enough for it.
  • Sacrificing just a little- In order to be able to save for your trip, you may need to cut back on a few things. Think about how much you spend on lunch in a week. Instead of buying it every day, opt to take it 4 times a week and buy out just once. If you buy coffee every morning, consider cutting back and making your own in the office. The money that is spent on coffee and lunch every day can easily add up to $50 or more a week- This could be all the extra you are needing to save to make sure you have enough for your trip.
  • Type of accommodation- Last time you went on holiday, you may have stayed at one of the many luxurious hotels in the area. If you are worried that you may not hit the required savings target, why not go for self-contained accommodation this time? You will spend much less on accommodation immediately and if you want you will be able to cook some meals yourself which will also save you money.
  • If you are still concerned about hitting your target, consider traveling in off peak times. During peak periods such as school holidays, prices of accommodation and transport increase. During off peak periods you can save yourself hundreds of dollars just by going at a different time of year.

When you are thinking of starting to save for your next trip if really can seem like an impossible task. But it really doesn’t have to be. With some careful planning and forward thinking you can reach your holiday savings goal in no time. I hope our tips on how to save for your next holiday has given you some useful ideas on how  you can reach your holiday savings goal faster, and with little fuss.

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