Best 10 Tips to Save Money on Your Holiday
Waiting for the holiday season or specific time for travelling is the best motivation to work harder to pass through months. Having holiday plan is also great way to give yourself a reward and celebrating any completion.
Those are every worker or traveler fantasies to escape from daily routine and jetting off around new islands or places.
Wherever your holiday will be, all of those plans and fantasies costs money. Talk about money for holiday expanse means you need to think about commitment to save your money to enjoy your holiday. But, it is not easy.
Here are some tips that you can start right away if you want to save some cash on your holiday:
#1 Make a Budget
The very first step that you need to do is to make a budget. Try to make a spreadsheet list for all of your monthly expenses such as food, entertainment, rent or any annual payment.
After that, try to look closer to what expense that you can cut down on. By observing to this detail, you might notice which unnecessary expanses such as buying too much clothing, lipsticks or going to see movie too often.
Having a spreadsheet list of annual expenses and notice the unnecessary expenses to cut down, the next step you need to do is to make a certain budget goal for holiday.
Create a clear vision to where will you spend the holiday, how much money that you need for accommodations, food and hotel to stay in, and more.
#2 Be Productive, Not Consumptive
Be productive may sound irritating rather than be consumptive. Of course being consumptive sounds so bad but feels so good.
By being consumptive, you can but any food or goods only that you want, chill and watch NetFlix all day long. The immediate effect of this consumptive lifestyle is zero saving for holiday, isn’t this scary?
However, if you choose to be productive ones, you will use all of your effort to find as many holiday destination and all information as you can and always do anything to save and add the income.
#3 Cut Down Extra Spending
Try to track down to your daily spending. Make sure that you can find any extra spending which need to cut down. Find some habits which cause you to spend more money but actually you are perfectly fine if you don’t spend on those things.
For example, morning coffee at a coffee shop near workplace. You can remove this cup of morning coffee spending and make your own coffee at home.
The total cost of your daily cup of coffee from coffee shop will cost more than the coffee that you make yourself.
Or cook your own lunch at home rather than subscribe to monthly catering or always buy meals with your friends for every lunch.
If you care to calculate, the amount of your weekly or monthly groceries are less than the amount of your weekly or monthly food expanse from canteen or catering.
Track down your other annual expanses that you can completely cut out. Such as pay monthly newspaper to read every morning.
To replace it, you can watch daily news on TV or news from online media which is free.
By cutting down or out some extra spending, you will notice immediate change on your monthly bill. You might be surprised at how much it decreases you bill automatically.
#4 Get a Side Hustle
A great thing to save money for your holiday is to make more stream income. Get a side hustle is key.
By taking extra job, it means you will get more money. The more stream income you have, to quicker for you to meet you holiday budget goal.
However, when you decide to get more stream income by getting a side hustle, make sure you can keep your schedule up. Make sure that your side job doesn’t mess up your first job and keep you do everything professionally.
What’s more important is how busy you are, make sure you still have one day off and enough sleep. It is really no fun if you drive yourself to work like a crazy but you get sick when the holiday comes.
#5 Shop for Needs, not Wants
Shopping doesn’t always mean to buy necessary things, but sometimes shopping has become a self – satisfaction activity. Especially when it comes to some goods that we love or just because it looks cute.
If you have strong will for a holiday, try to hunger your shopping satisfaction at some point.
From now, try to shop for needs not for wants. Before you buy everything, make sure you ask yourself “Do I really need this or that?” Or simply make a list of necessary thing and stay away from things you don’t need but you still want to buy.
#6 Save and Invest your Money
Saving and investing money is as important as making money. After you have clear vision on how many money will you need for holiday, you will know automatically how much money that you need to save and invest.
Try to calculate how much and how many months do you need to collect the money to meet your budget goal.
If you plan to go on holiday within a year, try to choose conservative investment product. Such as bank deposits, start to collecting dollar especially when you plan for overseas trip, or some mutual fund products.
If you think, investing is still scare you out, try to save your money in the bank. Or collecting pure golds.
You can consult to a bank’s customer service to guide you to save your money. They will give you some advice and offer some bank service to help you out.
#7 Sell Your Pre-Loved Items
It is time to look into your closet and find the goods or wardrobe which you are no longer use or wear.
This trick is great to sell used goods and sell them as pre-loved items. It is not only giving you extra money but also declutter your belongings.
It is very easy to sell pre-loved items. What you need to do is to take a good picture of your goods and try to take the best snap as you can.
Show people that your goods are still worth to buy. Then, upload it to some marketplace or your social media and let your friends know that you sell used goods.
#8 Hunt for Cheap and Adventurous Thrills
If you haven’t reached your holiday budget goal, try to find some cheap and adventurous thrills.
Get as many information as you can to collect the data of the place, hotels, accommodation or tour and travel service provider. By collecting the information, you can compare which destination that meets your budget goal and places that you want to visit. This trick can be used as the second option.
So, you won’t feel despair, you will still enjoy your holiday in different way.
#9 Stay Motivated
After setting budget goal and itinerary, you will need to stay motivated. Place a picture of your holiday destination and look at it every day. You can place it as the background image of your gadgets or place it on your bed room’s wall.
This tip might work whenever you have a desire to use your holiday savings or just want to spend more money on unnecessary things.
#10 Open a Holiday Bank Account
Open up another bank account for a holiday fund is not really necessary for some people. But it is important for people who have difficulty to track their expanse and income.
By creating another bank account just for holiday budget is the easiest way to save specific amount of money every month, especially when you use auto debit service.
The auto-debit service means you let the bank automatically cut several amount of money for your saving.
You Need Financial Planning
Having a plan for holiday sounds great but it will not as great as it sounds if we don’t have enough financial preparation.
One of most possible reason is because it is very easy to catch-up to spend money during holidays or it is very difficult for some people to save some money.
If you have clear image of how you will spend your holiday, do a good research about it and plan a holiday budget. If you do it right and stay motivated, you will have your dream holiday plan.
Please, share your comments and your experiences, thank you.
- How to Save Money 01 – https://bit.ly/2Jbwaq0
- How to Save Money 02 – https://bit.ly/2JtNPbH