10 Ways to Save for Your Dream Holiday
There’s no denying we all have a dream wanderlust list of places to see and travel to. At a time where social media is taking over and Instagram causes travel envy on a daily basis; is it really so much to ask that you get to enjoy a bit of the excitement too?
I’ve always been a good saver. My mum took me to the bank to start up a savings account when I was just seven years old and I’ve never looked back. Alongside working full time and saving for a house, we have still managed to go on holiday in between, on a yearly basis. I’m not here to brag, but rather hope to share my wisdom in helping you save for that dream trip too.
I’m a firm believer in looking ahead to the future and setting realistic deadlines. Without a timeline it’s hard to have an idea of how much you need to save, and by when. Work out your monthly outgoings and incomings and work out an achievable amount to save each month. Was that latest ASOS haul really necessary?
Make Monthly Savings
Looking through your banking statement each month might come as a surprise to see how much disposable income you do have each month. It’s easy to watch it dwindle away on takeaways, meals out with friends, cocktails and coffee shops. But what if you cut it down to just the weekends, or special occasions? A meal out might cost around £30, that coffee and cake on the weekend? There’s another £10. Before you know it, it’s all added up to what could be better put towards your next dream destination. Allow yourself a budget for still having a few ‘treat yo self’ moments, and put the rest into savings.
Be Flexible on Dates
Sometimes these things are unavoidable if you have children, and have to pay a premium to go out of term time in peak season. However if you don’t have such commitments and can be more flexible with dates, look at slightly off peak times. Try September when the schools have returned, for something much more budget friendly. Chances are it will still be lovely and hot, and often more bearable for exploring anyway.
Watch for Sales
Flight sales and package holiday offers are a great way to get to your dream destination, on a budget. These often come out in the January sales and if you’re quick, you might just grab yourself a bargain.
Look for Discount Codes
There are so many discount websites out there to help you save a pretty penny. Before I book anything I’ll always check to see if there are any discounts available. Especially on things like Airbnb where with every booking you can make money using referral codes or gain discounts for using the service. The same goes for sites like booking.com after you’ve used them a few times, or have a friend who can link you up to a referral code.
Sign up for Email Alerts
As much as we all hate spam in our inbox, sometimes an email alert can bring up a total gem you weren’t expecting. Try signing up to flight alerts to source the best time to book on a budget. I’m a big fan of the app Hopper, which will only notify you when the best time to book truly is.
Consider an Apartment over a Hotel
I often find that one of the biggest expenses when going on holiday is food and drink. Consider booking an apartment over a hotel to allow yourselves the opportunity to cook at home. Even just preparing breakfast and lunch at an apartment and eating out in the evening can save you a considerable amount of money. Plus you get to live like a local and experience all the local foods from the bakery, butcher and beyond.
Use Flight Cost Tracking Apps
Using websites like Skyscanner, Google Flights, and apps like Hopper can all help with getting the best price for your flight. Add a tracker and email alerts to your search so you’ll be notified when the best deal comes up. Just be prepared to book it as soon as you see it, these things go fast!
Grow Your Money in an ISA
Setting up a direct debit each month into an ISA will not only help you save without noticing, but it will also allow your money to grow. Anyone can open an ISA (as long as only one at a time is being paid into) and it’s a great way to save money. You’ll be payed a monthly interest on top of your savings as a reward, so the more you put in – the more you get back.
Cut Back on Little Luxuries
As wonderful as it is to meet the girls for brunch every Saturday, do you really need that extra chai latte? Set yourself a disposable income each month after savings, allowing you to spend only what you have. You’ll get more creative with ways to spend and places to visit. Plus before you know it you’ll be sipping cocktails in a pool, so who’s the real winner here!
I hope these tips help you reach your savings goal! Where’s next on your dream destination list?
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