How to: Save for that holiday you desperately need!

The biggest issue with travel is usually the expenses…right? I know for me and majority of my friends it is. We all want to travel here and there but we’re either students or working at jobs just to earn that bit of money for either rent or student life.

Here are some of my tips to getting that bit of extra cash to get you on that flight for your desperately needed holiday…

  1. Savings Bank Account!! Check with your bank to see what type of savings accounts are available to you. I am with ANZ and they have an online saving account that earns interest each month. The money you put in this account isn’t touched when making every day and online purchases. It’s up to you to have self control and to not take money out of it. I do believe some banks over savings accounts where once the money goes in you can’t take it out till a certain date or till you make a visit to the bank.

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 2. The 50/50 approach. This method is all about your earnings. When you receive you pay for the week/month be sure to put 50% into SAVINGS!! At least 50%. It is the idea that you give yourself half life pleasures (food, drinks, luxuries, living) and half responsibility (savings and boring stuff that could lead to fun stuff). It does work for any type of saving but trust me it is something worth doing. If you are lucky to still be living at home it is always easy to up the percentage of saving.

3. The $5 Box. Find yourself a box, any kind it doesn’t matter, and add photos of your dream destination. It will hopefully give you the motivation to not take money out of it. Now, every time you find yourself with a $5 note… PUT IT IN THE BOX! This technique has been a godsend to me. You would be surprised how much you can save by doing this. You can even put in loose change and $20 notes if you like. When I was saving for a holiday I managed to save $385 just by putting in loose change, random umpiring money and $5 notes. I probably would have used it for coffees at uni but no I saved it. So now I have that extra spending money or enough money for a domestic airline ticket.

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4. Sell the stuff you never use. Do a clean out of your room/house and see if you can find anything that you believe would be worth selling. Not only are you doing a “spring clean” but you are also finding another way to make some extra cash. It’s time to throw away that game you never actually play and those pair of shoes you once bought but never ended up wearing (it happens). For my latest trip I sold a treadmill, an old bike and a game console. It paid for my cruise and my flight to Sydney. If you’re selling clothes, it’s also worth it. A couple of dresses, skirts, pairs of shoes can add up. Sell 5- 6 items it can be an extra $60+ dollars you didn’t have before. It’s a nice dinner when away. Also, some items may not be worth selling but I’m sure a charity would be grateful for the donation

5. Be strict with yourself. I know it sucks but try to be strict with every day things. Try catching the bus or train more, think about whether you need that coffee, when an apple will do almost the same thing, and decide whether you need that extra drink at dinner. If you just add that money to your $5 box you’d have a bigger amount at the finish line which means more cocktails once on vacation.img_3832

6. Find a side, stress less, job. A stress less job? Is it possible? Definitely. Little side jobs may not earn you a whole lot but it’ll give you that extra cash. Dog walking, giving a few private music lessons, tutoring, umpiring (just some examples). In my eyes they are all beneficial jobs for those looking for a bit of extra cash. Dog walking and umpiring get you moving and teaching/tutoring get you to interact with different types of people and you get to help someone learn.

7. Parent Loan? Now I know this is a selective one but sometimes asking your parents for a small loan is ok. It is obviously up to them whether they say yes but it could never hurt if you are in a lucky situation where your parents can afford to be so generous. I was lucky that when planning my most recent trip my parents offered me a ‘parent loan’ if I needed. I never ended up asking for it but it was nice to know it was there. If you make sure to arrange an agreement on how you’d pay it off it could be that last push to get you on holiday. If people judge you…screw them. You know it’s going to be money you will work off in time.img_3843

8. And finally…Be patient. Going on a holiday can’t happen in a day. It often takes time to get there. If you are constantly saving you can make it happen.

Good luck saving!! If you have any tips, comment them below 🙂

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Stamped Passport xx

 

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