Dreaming about your perfect holiday away whilst at work, at home and scrolling through Instagram? You are definitely not alone!
You may also have started some research into flights and accommodation, and had heart palpitations when you discovered just how expensive your dream vacation can become. The only way to get there is to start saving and be smart about your financial choices in the lead up to your holiday. Here are the tips and tricks you can implement into your everyday life to get you on that perfect holiday experience you are craving.
Create A Separate Account
The best way to start saving is to open a separate account and dedicate it to your holiday fund. Watching an account build-up for something so exciting helps motivate you to save. You can even set a countdown on your phone until a particular date you want to reach your savings goal by, in order to continuously pressure yourself into putting money aside. Try to find an account with the highest interest rate in order to maximise your savings, as you do not plan on removing any money from this account.
You can similarly apply this dedicated saving method to your cash through setting up a loose change jar in your room. This can accumulate all your small coins and five-dollar notes. When you pass the jar, you may feel motivated to make it look fuller. Whilst the change may initially look small, it can quickly add up to an extra night away or a shopping trip abroad.
Take Out A Personal Loan
Whilst this option may not be for everyone, it is highly recommended if you already have some finances saved, but you need to borrow extra funds in order to truly achieve your dream holiday. If you are looking to take a holiday here is a good guide on how you can take a personal loan that is lower than credit card cost, so this could be a wise option. You can then make repayments monthly when you return and are in a refreshed mindset to get more done!
Cut Out Everyday Expenses
If borrowing is not an option, look to your everyday activities to find ways to cut back. Are you buying lunch every day? Splurging on snacks at the grocery store? Paying a high amount of city parking when you could catch the train?
Cutting out everyday expenses is important in saving, as every dollar not spent is another dollar that can go towards your dream flights, hotels, and activities. Think about meal preparation on a weekend to have you set for the week. You could even do this with a partner or friend and swap half the meals for greater variety. It is possible to make coffee at home and bring it on your train ride into the office. You can treat yourself at times, like a Friday lunch or a coffee with a friend, but everyday expenses need to go. Trade your overpriced mediocre coffee near the office for an authentic morning espresso overlooking the waters of Positano!
Find Cheaper Accommodation
Although this is the part you probably do not want to hear, the fact is that you may have to make some sacrifices on your dream holiday. Perhaps the easiest way to do this is savings on accommodation. If the holiday involves lots of going out and exploring, you probably will not even be at your accommodation for long time periods. Thus, consider a cheaper alternative, or searching around on apps such as Airbnb.
Perhaps you can stay somewhere really amazing that is just a short walk from the town centre, rather than being right in it. Another option is to spend some of your trip in cheaper accommodation, and then just a night or two in the ultimate accommodation you were after. This will ultimately cut down the costs however you still get to have the experience you desired.
Decide What To Miss
Are there other things you can miss out on in your home country in order to do more at your dream destination? Perhaps missing out on a short weekend away with friends, a festival or forgoing the latest iPhone is going to push you over your savings goal! It is the small sacrifices now that you can appreciate when you are away and not so tight on funds.
Overall, it is possible to achieve your dream holiday through these steps. You want your holiday to be exciting and relaxing, without too much stress about your financial situation. So, which ideas will you be taking on?
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