When you are saving for anything that is going to be a special event in your life you have to be prepared to make a few sacrifices. Everyone dreams of going on a spectacular holiday -one that will bring you everlasting memories. There are so many unbelievable sights in the world to choose from but most of us have that one place that would make our bucket list. Here are a few tips to saving for your dream holiday:
If you have a small amount of money that you are thinking of adding to your savings pot for your holiday then why not try investing? You can invest your money into the financial markets in stocks and shares and let your money earn for you. Visit IG to learn more about different types of investment. You will need to bear in mind that this isn’t a sure fire thing and you may end up losing your money. There is also the possibility to invest in your money on the local currency of your holiday as you may make money on the exchange rates.
Plan and budget
Do a little bit of research into how much it will cost to go on this holiday. Think about the amount it will cost for accommodation, transport and activities that you want to do as well as remembering to consider spending money. Once you have a rough idea of how much it will all cost for the essentials then use this as your starting point for your savings. Set amounts that you want to achieve by a certain period of time. Make sure that you make it clear how much money you want to spend overall or you could be tempted to spend over the odds.
Give it up
We all have luxuries that we might find tricky to give up but remember the end goal is to go on that awesome holiday. All these luxuries will add up so giving up a few things will go a long way to you enjoying a few extra luxuries on holiday. You don’t have to give up every luxury but if you can do without that weekly takeaway or trip to the coffee shop then this could make the difference. Instead of a takeaway try cooking your favourite meal at home or if you like a coffee with friends take a flask and meet them in the park for a picnic.
Whether it is shopping for food or clothing you can make plenty of savings if you are willing to choose different brands. Premium brands are all well and good but how different are they to own brand products? The truth is that often these products are made with the same ingredients or materials but the packaging or brand is putting up the price. You will definitely feel the difference in your weekly shop so try it and put all the extras into your holiday fund. Try a grocery price comparison app such as Trolley Saver.
Check your account
Most of us do online banking nowadays but we don’t often check what is going out and only look at how much is left. Have a quick look at your direct debits to see if they are all still things that you need and get rid of the ones that aren’t necessary anymore. Even removing a ten dollar monthly debit that will add up over a year can make a big impact on your holiday savings.