Seeing other countries, having experiences and travelling create some of the best memories in life. However, dream holidays don’t tend to come cheap. You might be looking to book a memorable honeymoon or the travel trip of a lifetime – the first step for any holiday is going to be paying for it. So, how can you save to make sure that you have the holiday of your dreams?
What’s your budget? Work out the route if you’re going to be travelling, find your ideal hotel if you’re planning to stay put and cost up every element of the trip. The first step is to make sure you know what your savings goal is.
Break your total down into monthly goals. How much do you need to earn each month to have enough in the bank by the time you leave?
Can you increase your income? If you have the option of freelance work, extra shifts with your current employer or taking on a second job then it might be worth doing this for a short period of time to help boost your savings.
How much of your current lifestyle cost is negotiable? Switch to a cheaper energy provider, take in a lodger to help cover some of your rent or mortgage. Other options, according to online broker Solution Loans, include switching existing borrowing, like loans for people with bad credit,guarantor loans or expensive credit cards to a cheaper loan, especially if your credit score has improved since you last applied for a loan or credit card.. Alternatively look for a 0% credit card to transfer an existing balance to. There are lots of ways to make savings by reducing the cost of your lifestyle.
The 15 best ways to save for your dream holiday Small changes are often where you can make the most impact on saving for a dream holiday. These are just a few of the ways that you could reduce your monthly outgoings:
- Don’t buy bottled water, drink tap instead
- Make your coffee or tea at home, don’t buy at a coffee shop
- Walk or cycle instead of taking the bus or car
- Give up cigarettes and cut down alcohol purchases
- Switch from high end branded food items to supermarket own brand
- Bulk buy your food and plan meals to make sure that nothing is wasted
- Look for deals and discounts when you want to treat yourself or socialise
- If you need an outfit for a special occasion, rent instead of buying
- Browse free sites like Gumtree instead of making new purchases
- Make date night cheaper and more intimate – avoid restaurants and go for a picnic or cook something special at home
- Take sandwiches or salads or leftovers for lunch at work instead of buying from a store
- Don’t throw out old tech, such as out of date smart phones – you may be able to get cash in return for recycling them
- Quit the gym or yoga studio and join a running club or do your yoga sessions via YouTube instead
- Don’t buy take out food – your body and your bank balance will thank you for it
- Browse vintage stores and charity shops instead of buying brand new