How to Create a Holiday Fund

For many of us, getting away from the office in search of some sun and relaxation is what we work towards throughout the year. There are a number of studies out there that support the claim that going on holiday is good for your mental wellbeing and health, generally. We all need time to relax, but sometimes getting the money together to fund a trip can be a little challenging. A popular solution is to have a dedicated holiday fund where you can dip in to and find yourself not being out of pocket. If this seems like an idea way to fund some fun in the sun, here’s a few things to consider…

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Save where you can

Think of your holiday fund as a savings jar, where every time you have a bit of spare change, or extra cash, you can drop it I here to let it accumulate. It can be hard to completely change your spending habits to allow you to be able to afford a holiday, so try on concentrate on making little savings to let your fund grow. There are all kinds of useful apps that can track your spending and help you identify areas where you can make a saving.

Stagger your Bookings

If you take in the costs of flights, accommodation, and spending money, a holiday can seem like one massive expense. If you’re finding that you’ll struggle to get the money together to buy every part at once, try paying for different things over the course of several months. If you plan well in advance, you’ll be able to get good deals on flights and hotels before the prices go up in the lead up to summer. Start by paying for your flights, so the dates are locked in. When your fund has built up again after a month or two, then think about hotels so you’re not bitten by the full cost.

Plan Ahead

Not having a proper plan in place about where you’re going and how much you’re spending means it’s more likely that costs will start to spiral out of control. From the get go, do some research t ensure you’re got every part of your holiday planned out and try to set a realistic budget. If something looks like it might tip you over what you can afford, don’t waste time trying to make it work. You’ll only be bitten further down the line.

Be a Savvy Traveller

There’s all kinds of different things you can do on your holiday to get a bit more out of what you spent. Have a look at some online guides and see where you can get a bit more bang for your buck. Some people ask for upgrades on flights that can often come free of charge, and it’s not uncommon for people to get better rooms in their hotels if they ask nicely, with a bit of luck too.

You don’t have to stress too heavily about not being able to afford a holiday. If you stick within your means and are sensible about what you save and what you’re planning on spending, you’d be surprised at just how far your money can go.

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