We all have that one destination that we so desperately long to travel to; to leave the monotony of everyday life behind for a while and live the dream. Unfortunately, such holidays do not come cheap and many people are resorting to credit to fund their travels, meaning they return from what should have been a well-deserved, stress free trip of a lifetime to find they are crippled with debt. Fortunately, credit is not your only option. Instead, with a bit of patience and clever saving, you can fund your holiday by yourself.
Use what you have
Most people go out and buy an entire new range of summer clothes when approaching their holiday. The truth is that this is an expensive luxury you can often do without. With a wardrobe full of clothes in perfectly good condition, perhaps worn just a few times the previous summer, why bother to blow the budget on more when you can put that cash towards paying for the trip itself?
Saving money can sometimes feel frustrating. The best way to keep yourself motivated when temptation to spend is brewing within you is to have a constant reminder of your target. A picture of your holiday destination pinned on your wall or displayed on the fridge will refocus your efforts every day, so you never forget what the hard work is all in aid of.
Keep a record
Keeping track of how much you have managed to save is a good way to let yourself know the effort is paying off; just be sure not to check every day, as saving money takes time and won’t happen overnight. It can also help motivate you to split the holiday into different sections (flights, accommodation, spending money, etc.) and deciding how much you will require for each. That way once each individual target is reached, you can cross it off your list and know you are one step closer to jetting off.
Check what you are owed
It’s amazing how much money people can have sitting, just waiting to be used. Whether it is an old savings account that’s gathering dust, an investment portfolio long forgotten, a PPI policy from the bank they are entitled to claim back or a pension fund from a job long ago; the possibilities are endless. Dig out all your old statements and paperwork and enquire about any money you believe you might be due. You could find yourself with an unexpected boost to your holiday fund.
Take on extra work
If you find yourself with nothing to do at the weekends, why not take on a small part time job waiting tables or serving customers in a local store? It would only have to be temporary until you had saved up the cash you needed but these extra wages could all go straight towards the holiday fund, meeting your target in half the time.
Share the load
If other friends or family members are coming along for the trip, it is only fair that they contribute towards the cost. Even older children who have jobs of their own can be asked to help pitch in towards their expenses; it not only teaches them the value of money but also lessens the load for you.