Holidays should be about fun and adventure, not pinching your pennies to make sure you’ll have enough money to spend on souvenirs or even food! Budgeting may not seem glamourous, but planning your finances ahead of time can make a big difference to your choice of accommodation, cuisine choices, side trips and can ensure you focus more on fun than finances!
Decide How Much Money You Need
Rather than vaguely planning to save money; deciding on a rough budget for your holiday will give you a specific goal to work towards. Starting with your big expenses first can make this job easier; this should include airline tickets and accommodation. Next, you can start adding in the money you expect to pay for food, transportation and day trips while you’re there. Finally, add in money for souvenirs and emergency funds in case of unexpected circumstances.
Cut Down on Unnecessary Expenses
When you’re not in a savings mindset, it’s easy to spend money on entertainment, restaurants and clothes. If you’re planning a big holiday, however, spending less on these expenses can help you save a large chunk of change each month. If you start to feel frustrated that you can’t spend money on your usual fun, keep an image in your mind of your upcoming holiday and the money you’ll have to spend on fun while you’re gone.
Start a Savings Account
Although cutting down on expenses helps your pay check survive longer; putting your money into a savings account with interest can help it grow over time. If possible, make this savings account into a dedicated account tasked only with saving money for your upcoming holiday; this will make it easier for you to watch your progress and keep your hands off it! Set up your other banking accounts to make direct deposits automatically in order to grow the fund even more without any action from you.
Earn Extra Money Here and There
Earning a little extra money on the side can help you get to your holiday target sooner. Look around your home for items with value that you don’t want anymore; you can sell these items online for quick money. If you have some creative talents, selling handmade items at a craft fair can net you some extra cash. Encourage your children to participate as well; they can sell cookies and lemonade outside your home for some souvenir spending money.
Why not complete online surveys with Valued Opinions and earn vouchers to spend on your at-home necessary expenses, such as the groceries and some sneaky entertainment here and there.
Be Flexible With Planning
If you’re willing to be flexible, you can save some money on your travels by avoiding fancy hotels and not visiting during the height of your destination’s tourist season. Using public transportat while you’re on holiday can help you avoid costly cab rides. It’s also a fun way to learn more about the city you’re visiting! If you want to save some money on food, consider renting a small apartment with a kitchen so that you can go grocery shopping.
Worrying about money while you travel saps the fun and excitement from the adventure. Planning ahead, opening a savings account and earning extra money on the side can help you take a trip without a worry!