With winter in full swing, it’s no wonder that most of us are already considering sun-filled holidays. A holiday is the best way to reward yourself for all your hard work and it’s good for your mental and physical wellbeing too. Your saving for the summer holiday should start now.
However, the one thing standing between you, a sandy beach and crystal clear waters is your holiday fund. It’s not easy to save for a holiday when there are so many other financial commitments and responsibilities to pay for.
I’ve come up with some straightforward and easy to follow steps to help boost your holiday funds without compromising your other financial obligations – read on to find out what they are.
Get a side job
Earn some extra money in your free time. Drive for Uber, rent your spare room to Airbnb, rent your car on Turo.
You have roughly 6 months to the summer vacation, you’ll earn enough money to sponsor the entire trip.
I’m sure you’ve probably heard of companies like Bitcoin. A digital currency that has no affiliations to banks or brokers.
Users can exchange it with each other freely, without paperwork, or the authority of banks.
Bitcoin can sound a little daunting, but the amount of people who are turning to this cryptocurrency to increase their savings and even their annual income is growing, so it’s worth researching.
Find yourself a bargain
If funds are low, and you’re flexible enough you can probably find a last-minute holiday, hotel room, or flight for a reduced price.
If you don’t have a particular destination in mind then leaving your holiday bookings to the very last minute will certainly save you a tidy bundle.
Cancel that gym membership
Did you start January with a fitness pledge, but things have gone a little awry since then?
If you have a gym membership that you no longer use or no longer want then the quickest way you can save money is by canceling it and putting that money straight back into your holiday fund.
If you still want to work out then consider some workouts at home, or head outside where it’s 100% free!
Cut back on your streaming habit
We all know that there’s some great TV out there at the moment, however, binge-worthy box sets aren’t always great for your savings, especially when you’re subscribed to more than one streaming service.
Things can get costly pretty quickly, so decide which providers you can live without and put the money straight into your holiday fund instead.
You can always re-subscribe when you come home. Few bucks on Hulu, few bucks on Spotify, Pandora, etc.
Individually does not cost much but if you add it all together and multiply by 6 (6 months) it’s substantial money that you can save.
We all like to let our hair down, especially after a long week at work. However, your Friday and Saturday night habits don’t come cheap.
So, instead of heading straight to the pub this weekend, followed by a couple of bars and a late-night takeaway, opt to stay home instead.
Food and drink are cheaper, you can still enjoy good company and you get to relax in your pj’s. It’s a win-win!
Sell your old stuff
Transform your clutter into cash by going through your old junk and selling on anything you no longer want or need. You’ll increase your holiday fund and reduce the clutter at the same time.