I'll admit this post was partly inspired by a colleague who's forever dreaming of holidays and then bemoaning not being able to afford it. Maybe she just needs to budget a bit and try out some of these saving suggestions.
First up, get a rough budget sorted for your trip: flights, accommodation, food and major activities. There's more information about how I budget in this post HERE.
Got your budget? Great. Now to get that cash together.
Big trip planned? A few weeks or more? Open a good savings account. Make a promise to put a certain amount of money into it every month and DON'T TOUCH IT. If you're of the type where you find it really hard not to touch your savings, put your money into something like a bond, where it'll be locked away for a fixed term.
Well, there's the major lump of savings done. But what else can you do? You could start with taking a long, hard look at what you're spending money on at the moment. Is there anything you can cut out?
For example, I know that I spend a lot of money on music. Not a huge problem, but I removed my payment details from the sites I use so that it's not as easy to just grab a download when I feel like it. If I really want an album, I'll buy it, but I know I've saved a lot of money this way.
On a similar note, do you subscribe to anything? Netflix... cable... magazines... yeah, all that adds up pretty quick, doesn't it? Can you do without it for a few months? Yeah? Cancel those subscriptions.
And what about your spending on food? Of course, there's the obvious suggestion of shopping at a different supermarket - there's plenty of cheaper stores now like Aldi and Lidl where you can get the same quality at a fraction of the price. You could also cut out some of the branded products. Believe me, we've been doing this in my house for a couple of years now and there's nothing wrong with supermarket own-brands.
Remaining on the subject of food, what do you take to work for lunch? Or don't you? Do you grab a snack from the cafeteria most days? Stop it. Take a packed lunch instead. Much cheaper. Add to that your coffee (or whatever it is you drink). Even a cheap takeaway coffee is what, £1.50? I'm guessing here - I don't drink coffee. £1.50 five times a week - that soon adds up to a couple of hundred quid a year. Cut it out. Take a flask if you must.
I used to buy my lunch at work a couple of times a week and then grab something from a vending machine as well. I've got round this by no longer taking any cash to work with me. Obviously this isn't practical for everyone, but if you can do this and you're trying to save, I'd recommend it.
Last, one little thing. You know all those pennies that build up in your purse/wallet? The ones that are so tempting to just slot into a vending machine? Keep them. Every kid should have a piggy bank and every adult too. Grab yourself a jar and pop all your small change in it. It's not going to add up to much but it might be enough for a pint or a bus ride or an hour of WiFi.
All in all, saving doesn't have to be difficult. Cutting out the little things you spend money on and promising to save a little each month should be enough.
What tips do you have for saving up for travel? Are there other areas folks could cut back or do you know of cheaper alternatives to life's little luxuries? Share in the comments below.
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