Saving for your vacation can sometimes take a while to reach your financial target. Here are a few ways to help reach your target without having to Uber your car, sell your stuff or cancel mortgage insurances as a lot of websites tell you to do.
Here are some ideas to speed up your saving.
1. Open a dedicated savings, preferably a 32 day notice account or similar.. That way your holidays savings are separate from your day to day spend and bring a notice account the money isn’t available immediately so you aren’t able to dig into it easily. Setting up a monthly scheduled transfer is ideal.
2. Get a change jar. Twice a week go through your purse or wallet and clear all coins out and put them in the jar. You will be surprised by how far your savings get.
3. Stop spending for 2 months (or more if possible). By instituting 2 months of nothing into your year where you take an entire month at a time and don’t spend money on anything unnecessary. For example pack lunches for work and short trips, instead of going out to restaurants get together at a friends house for a braai or something. Stuff like that
4. Save reward points from credit cards or other qualifying accounts to then use against your holiday expenses.
5. Gift your skills. Maybe you a good painter, you could other to help out a friend by painting a room. Or you could be useful on the computer, create a website for a friend etc etc
6. Groupon and other bargain websites always have deals giving you huge discounts on holiday accomodation, meals and activities. By shopping ahead of time ((about 3 months) you could easily shave off 40% of your holiday costs. Just remember to read the fine print regarding expiration dates, exclusion dates and when it comes to meals please tip your waiter/waitress based on what the meal would have cost.
Hope these tips help you 😀
Travel South Africa 