A holiday is a wonderful way to get away from your daily routine and see different parts of the world. But saving for that trip can be challenging, especially with the cost-of-living crisis affecting many this year. Here are some things you can do to plan your finances for your holiday so you get that break you deserve.
Plan Your Finances for a Holiday – Budgeting for your holiday
A simple way to begin is by budgeting your weekly finances. Take some time to work out how much money you need for essentials, covering things like rent, bills and tax. Then decide how much you need for more enjoyable expenses like hobbies or streaming services. Once you’ve worked out where every penny of your income is going, you can take control of it. The rest of that money can go straight into a savings account. Set up a standing order or direct debit which does it automatically, so you never forget. Even starting small by putting £4 a day into a savings account will save you £1,460 a year! If this works, you can increase that number – every little helps!
We’ve all been caught out at least once by a monthly subscription taking money out of our accounts for a bit too long. Check your direct debits on your bank account and make sure your subscriptions are all correct and necessary. Sometimes a month’s free trial can become a very expensive year!
Planning Early for your safari
Not only does having a nice holiday booked boost your morale, giving you something to really look forward to, but booking early can save you a lot of money. With Sense Earth you can book your trip early and we will hold it at that price!
Holiday Fund
Got clothes you don’t wear anymore? Maybe books or furniture? Sell them on apps such as Vinted and Depop or sites like Etsy and Facebook Marketplace. Treat the money you make from these sales as your holiday fund, a way for you to raise money for your trip. Get clearing!
Plan your Finances for a Holiday by Buying in Bulk
Buying in bulk means you get more for your money because you aren’t paying for excess packaging and branding. By planning what you need to buy ahead of time, and perhaps making a meal plan for your weeks, you can see what foods you can save money on by buying in bulk. Those daily trips to the little Tesco or Sainsbury down the road definitely add up. So, start buying the 3kg bag of pasta instead of lots of 500g ones every week, or find a wholesaler to buy from. Check if you’re eligible to become a member of Costco, it depends on where you work, but they offer bulk purchases ranging from household items to garden supplies. It’s worth a look.
Once you make saving a habit, your money will start adding up – as we all know ‘If you look after the pennies, the pounds will look after themselves – and you’ll find yourself on holiday. Consider saving with a friend or a family member to keep you motivated. Travel is back on the table so stay organised, and get your trip of a lifetime.
