A Dollar Saved, is a Dollar Earned
The summer is in full swing right now, but that doesn’t mean that you can’t start thinking of all the ways you’re going to save for your summer holiday next time! In fact, most people tend to think about their summer holiday while they’re already on one, mainly if they are staying on the mainland. There’s so much to see and do that you’ll want to plan in advance so that you can be sure you can afford it!
Not everyone has the disposable income to stack tons of cash to one side and manage an entire holiday fund with ease; most people are already stretched and so have to get smart with their budgets so that they can afford their break. One of the best ways to start thinking about your next summer holiday is to begin funding it today. Below, we’ve got five tips for starting a vacation fund that’ll pay your way next year.
Open A Savings Account – Another One
You may already have a savings account, but that doesn’t mean that you can’t open another one that’s targeted specifically for your vacation savings. You can begin with researching the various online and central banks that can give you a free account with the best interest rate possible. If you keep this fun separate from the other accounts, you are less likely to spend it.
Cut Your Own Corners
It’s time to evaluate what you’re spending every month and make cuts where you can. Cut back on those coffee shop trips and make your own coffee for a travel mug, instead. Track your purchases and deal with cash; it’s far harder to spend money that you can touch and see, whereas on a card you are spending plastic and not cash.
Where you find a lump sum of cash you could save each month, get it automated. Out of sight, out of mind is critical, and if you can automate it for the day that your wage hits your account, you won’t ever really see the money to spend it first.
Find It, Hide It
Tax returns, birthday cash, Christmas presents, and inheritances are all ways you can find money – so it’s time now, to hide it. Squirreling away that money means that you’re adding to your fund money that you never accounted for. It’s the best way to make sure that you build on your holiday fund!
Now you’ve started to save up; you must not touch the money. Even in an emergency, try not to touch any of it. Practice a little self-restraint and get used to leaving it be. If you touch it and it’s not an emergency, you’ll kick yourself later when you cannot book the holiday.
If you’re desperate for a holiday on another part of the island or elsewhere in the world and you haven’t managed to skimp and save, consider a personal loan through The Lending People. With no broker fee and payments to suit you simply can’t go wrong >
Get thrifty with your appliances
You might be surprised how much power some appliances use when they’re not even in use. Basically, anything that has a stand-by mode, uses a remote control or clock will be chugging away power pointlessly. Some households could save up to 10% on their power bill with just a few switches. Find out more >
Help save money by consolidating your debt with No Broker Fees.
Debt consolidation might sound complicated – anything to do with managing your money can seem a little scary. Plus, what does ‘consolidation’ actually mean? In reality, it’s all quite simple and can make money management easier too. Find out how >