Even though summer is still far away, you should already start to think about saving money before the summer holiday strikes. Whether it’s visiting Hawaii, going on safari in Africa, snorkeling on the Great Barrier Reef, or just going camping to the neighboring state, your next trip will definitely cost more money that you expect. Hence, it is wise to save as much as possible before you leave in order to get the peace of mind that your budget is enough for additional expenses.
In order to save money for your holiday vacation, you need to carefully consider your budget and assess any potential costs.
Holiday Costs and Budgeting
The total cost of your holiday mainly depends on a few factors:
- Travel insurance
- Sites admission
- Extra money in case of emergencies or unexpected situations
You need to carefully plan your budget. Cut back on monthly spending in order to make sure you will have enough money for the trip. Look for savings in your restaurant meals, entertainment costs, Starbucks coffee, clothes and takeaway lunches.
Here are some extra tips to help you save even more before summer holiday.
Savings Tips for your Summer Vacation
-Read online for money-saving tips that will help save money to travel more. Reading what works others can give you a great idea what might work for you.
- Set up a savings account.
To grow your savings and make sure that happens regularly, you need to think of a way to put your money where it will earn interest. A savings account or a term deposit should do. The fact of the matter is that these accounts will give you a much higher interest rate than standard transaction accounts. Interest rates, however, is not going to be great and the reason for the savings account is that this should make it more difficult for you to spend your savings elsewhere. Just think, if you put aside $300 per month, at the beginning of the summer you will already have more than $1,500 ready for your trip.
- Less Starbucks, KFC and the likes.
Try to cook more instead of eating out on a regular basis. Of course, sometimes you just need to have fun with your friends or have a business meeting. In this case, KFC or Starbucks is another story. In all other cases, eating out or drinking an expensive coffee may only slow down your efforts to save money for your summer vacation.
- Make the most of coupons and promo codes.
When buying something online, do not forget to capitalize on coupons and discounts. You can save up to 30% or more on every single purchase, which translates into savings of tens of dollars on a monthly basis. It may be a good idea to visit websites devoted to saving tips and couponing like discountrue.com where you can get more advice on the subject of using coupon codes and frugal lifestyle.
-Start planning your trip now
It is best to book or buy tickets to your destination well ahead of time and get massive discounts before the ticket prices go up. When checking for flights and reservations, look for the cheapest deals out there. Online travel sites such as cheaptickets.com or lastminutetravel.com can be extremely helpful for you. It is similar with the hotel booking. Stay at hotels that offer free accommodation for kids under 12: certain hotel chains, such as Ramada Inn, Holiday Inn and Wyndham Hotels and Resorts, offer free accommodation and meals for kids under 12. Always check the “Specials” page of any hotel website to find out if you are eligible for this amazing offer.
- Get the whole family involved.
Once everyone is involved in the money-raising process, it will be much easier for you to raise up money for your summer holiday. You can even make it become a whole family mission. This may even change the way your whole family experiences the holiday or even set a great example for the future of your family budget.
Saving is not such a daunting task, especially if you make sure to put aside all spare money. You can use a jar for change and a bank account for the real money. If the whole family is involved, you will end up having stronger relationships, and your holiday will certainly be successful.