4 Strategies to Save Money For Your Next Holiday
If you can't look forward to the little luxuries in life like a holiday in the sun, then what is the point of working so hard day in and day out?
Sadly though, not everyone can afford to go abroad as often (if ever) as they would like.
Or can they? Even if you have not been able to save for a holiday up until now, or if you have managed to put together some cash but would love to have the opportunity to really push the boat out for your next trip, there are several strategies that you can implement in your daily life to start saving more.
Opening a savings account
If you don't already have a savings account specifically created with the notion to save for your next holiday, then this should be your very first undertaking. Having a general savings account is not recommended as you will just end up spending the money on something else such as home improvements or a new car.
You need to have an account that is solely for your holidays, and preferably a high interest one that will work hard for your money.
Reduce your monthly expenditures
You may have already tried to do this, but are you doing it effectively and thoroughly? Of course, you have to pay your mortgage or rent on top of your utility bills, but have you looked into swapping your providers for cheaper monthly outgoings? Unfortunately, most utility companies choose to not reward loyalty; therefore, if you have been with your current provider for many years, you are almost guaranteed to be able to find a better deal if you switch.
You should also look into ways to cut your weekly food bill such as cutting back on takeaways and eating out, as these can quickly add up and increase your food spending exponentially.
Finally, you should cancel any memberships or subscriptions that you either don't use or can find cheaper alternatives to.
Declutter your home
A good clear out is good for both your soul and your wallet, with most homeowners being surprised at just how much stuff they have accumulated over the years. Start by looking in your loft, basement, and garage to see what items you could sell, such as old furniture, vintage clothes and/or books.
If you have an old car that is no longer road-worthy, then don't let it sit getting rusty, contact a fast junk car removal service and add another few hundred dollars to your holiday savings account.
Rent out your property
If you regularly go away, perhaps to visit family or explore more of your own country, have you considered listing your home on a property rental site such as Airbnb? If you live in an area that is close to popular tourist destinations, you will easily be able to rent out your home for a decent amount of money.
You should also consider renting out your home when you go on your next holiday as then you will already have a starting sum for next year's trip.
If you do not want to rent out your whole property, you can choose to simply rent out a room, your garage or even your garden for people to camp in!