Nothing like getting out of the routine, spending a few days off and getting to know new places. But whether it is about the interior or the outside of the country, vacations always cost and it is something we should prepare for.
Taking a vacation is the favorite part of the year for many
When it comes to taking vacations, many people see the credit card as the favorite means of payment, and although that is not a bad thing because it allows you to take advantage of alliances with airlines, hotels or other promotions, the ideal is not to finance the 100% of your trip with them; On the contrary, use your card only for those expenses that allow you to take advantage of the benefits. For the rest, start saving.
Even if you don’t believe it, there are some tips that will help you maximize your travel savings, so take note and apply them as soon as you can:
1. Set an attainable goal
Be realistic about the place you want to visit and the time you want to visit. For example, if you are in a time of skinny cows and have other debts to pay, but still want to take vacations, do it inside the country or to a destination that does not represent such a large expense. Your finances will thank you.
2. Search for the appropriate deadline
Once you have selected the place you want to go, prepare a budget of what you would spend; that is, find out how much air tickets cost, the average cost of hotel and food per day. That way you will know how much you need, approximately. Then, also check how much you can save month by month.
Once you have these two amounts, make a division and see how many months it would take to save for that trip. If you want to advance the date, you will have to save a little more each month. Ideally, while saving, none of your regular expenses are put at risk.
3. Find ways to produce more money
Make a garage sale or a charity activity. For example, how about making a sale of pro-fund cookies? Or a lunch? In addition, you can look for some freelance orders and everything you earn, that goes to the travel savings.
4. Save it where you don’t spend it
The worst thing you can do if you have managed to save a certain amount is to spend it. So it is best to open an account at the bank and, month by month, put the money there. Look for an account that pays interest, that way your money will grow. Remember, if you don’t know the options, you can use the Sergeant Cuff savings comparator.
5. If you already have it, invest it
Finally, if you already have a part of the money, you can choose to invest it while saving the remaining part. Thus, your savings will grow faster, generating more profits. For that, you can evaluate options such as Term Deposits, stocks, bonds, etc.