I’m really enjoying my saving posts at the moment – if there’s one thing I’m good at it’s drawing up a saving plan and planning a budget-friendly holiday. It’s all too easy to book a holiday now and worry about how you’re going to afford it later – saving for a holiday is at the back of people’s minds. Planning ahead and looking at how you can save for your holidays each year will alleviate all of the stresses and give you the opportunity to book, sit back and relax knowing that everything is covered. With travel sounding like it’s off the table for 2021 for now, this gives us all the opportunity to plan that holiday we’ve all been dreaming of – I have a trip to Cayman to visit my best friend in mind for either next year or the year after, plus we have a honeymoon to think about for when we get married too!
Take advantage of saving apps and cashback
I use an app called Oval on my phone – I have done for a good few years now and I absolutely rave about it. The app connects to your bank account and rounds up purchases you make to the nearest pound – a £1.84 purchase is rounded to £2, and 16p saved, and so on. You don’t feel the small round-ups at all and at the end of the week, you’ll have managed to save a few extra pounds. I’ve also started using Chip more recently; I’m still very new to the platform but my understanding is that it saves what you can afford to save each week and splits the money into designated pots. Over a longer period of time, this could be a particularly healthy holiday pot to get any flights and accommodation booked. If you haven’t signed yourself up to cashback apps – what have you been waiting for? Simply go through the website before making your normal, everyday purchases to receive a percentage of the cost back as cash. You can let the cashback build up over the course of the year and use the money you earn towards paying for airport transport, putting towards your holiday spends or else booking an excursion.
Get rid of your unwanted belongings
If you’re anything like me, you have a mound of clothes, DVDs and other objects gathering dust around your home. Using services such as eBay, depop and the like can be an easy way of earning a bit of extra cash to put towards your trip. It can be a little time consuming at first, but once you’ve got into the swing of things and you’re seeing those first sales go through, you’ll be convinced it’s more than worth the time. There’s no point holding onto belongings you have absolutely no intentions of using so have a rummage around, upload the images and make use of the money it brings in productively. I’ve sold a couple of clothing items that have just been sitting in my house for the last year recently and the extra money will do me well.
Budget holidays into your monthly outgoings
If paying for holidays is a regular outgoing for you, budget the costs into your monthly outgoings. At the start of every month, I put x amount in our savings pot, our joint account and also in our holiday pot – meaning when we do eventually go on holiday, we have the money there waiting for us with no added pressure in the months before. The amount you put into your savings can depend entirely on the amount of trips you’re looking to take each year, the duration and also the affordability of it – if you can afford to put £50 a month in the holiday pot – great. If you can afford to put £200, even better. It’s all down to your personal circumstances and how you allocate your earnings. Saving for a holiday doesn’t have to be a stressful experience, if you approach it in the right way.
I’d love to hear about any dream trips you have planned and how you’re going about saving for it!