Everybody has a dream holiday destination. However, the issue is not the location but how to get to it and have a good time when you’re there. This can only be achieved if you have the money to do what you want, whether that’s backpacking or Going Luxury. If you have been wondering how to afford that dream vacation, one of the ways to do this is by saving.
Set a Goal You Can Achieve
If you choose a holiday that is too expensive then you will keep postponing it every year because you just can’t seem to get the money. However, choosing a vacation that you can pay for with some savings is achievable. Choose a place you feel you can afford then start saving right away. You can go through various holiday spots and see how much it can cost. Then set aside money every month. If it is realistic, you will be more enthusiastic towards saving.
Save Before Spending
This policy will have your savings increasing every month. It can be a bit difficult to put away savings if you have already spent the money on bills. Before paying the bills, put some money in your vacation savings account before you start paying for anything to avoid feeling overwhelmed. Look for good deals on interest. Some banks will offer even 2% interest on your savings. This will seem small when you have just little savings but calculate it in a year and see just how much it will save you!
Download Smartphone Apps for Saving
There are plenty of saving apps for your phone so you do not need to go to a bank to do that. Choose an app that can remind you of the time to save so you don’t forget. There are even apps that will deduct a small amount from your account and will let you know how close you are to your target amount. You can always track the progress to give you some motivation when you need it.
You do not have to be stingy or miss out dinners with your friends because you do not want to pay. You can gain from using your credit card if you get rewards after using it. You do not have to pay for the entire dinner, have whoever you are with pay you back with payment apps. Make sure you tell them that you are splitting the bill beforehand.
Avoid Impulse Buying
This can be so hard to do if you have money that you can access at any time. However, if you think about it in terms of how much it will affect your savings, you will have a bit of restraint. If you feel like buying something expensive, buy something about a quarter of that price instead, then put the rest in your savings account. This will help you keep the savings up and expenditure down.
Get Discounts Whenever You Can
There are plenty of places that offer genuine discounts. Check out the cheaper places to purchase the same things you are buying at a higher price. If you need to buy appliances, check for places with discounts then put the remaining amount in a savings account. It will go a long way in ensuring you get the trip you’ve always wished for.
Set Different Accounts for Savings
If you are also saving for something apart from the vacation, make sure that you have a specific savings account for the holiday. This will ensure that you are not only saving money for one thing and neglecting the other. It will also prevent you from feeling like you have enough savings when you don’t. Most people make the mistake of having one account, only for them to realise that it will not facilitate all the other plans they have. This is how you end up postponing the vacation.
If you feel that you may not attain the amount even when you have done all this, find ways to get extra cash. Pick up the extra time no one wants if you do not have somewhere to be. Little things like this will go a long way in getting to your goal.