We all know that money doesn’t grow on trees, although we’re pretty sure everyone wishes it does. When you’ve got that wanderlust tugging on your shirt and you’ve been staring wistfully at your old holiday snaps for way too long, you know the time has come to save up for a long-awaited mega holiday to your destination of choice.
Need some help to get things started? Here are some easy tips for you to start saving for your dream holiday!
1. Set a goal
Have a far-off place in mind? Once you’ve determined your destination (or destinations! No sense in saving up for just one trip right?), research ticket prices, accommodation, food costs, etc, to help you determine how much you need to save up for your trip. Once you have a goal to work towards it'll be much easier to start saving up! Being able to meet your goal also gives you a sense of satisfaction like no other.
2. Know what you’re spending on
Tracking your expenditure is a great way of finding where your money goes to and what your spending habits are like. You might find that your coffee habits eat in a little too much into your monthly salary, or that you could do without that new pair of shoes that looked gorgeous on your feet in the store ?
Use an excel sheet to create a budget or apps like You Need A Budget that is really helpful in getting your finances together. Reconsider your ongoing expenses - can you downgrade your phone plan, cancel your gym membership (exercising outdoors is free!), or carpool to work?
3. Save money every day
Whether it's 50 cents or 10 dollars, a little spare change from your everyday spending adds up to quite a bit! If you want to be more disciplined about it, set a specific amount to set aside daily. It doesn't have to be a lot, but it will eventually add up. Get your travel buddies in on it and see who gets to save up the most after a couple of months - a little competition definitely helps with the motivation to save ?
4. Earn money from your smartphone
From the moment we wake up till we go to bed, we unlock our phones approximately 110 times per day (that’s a lot!). Since we’re glued to our phones all the time, wouldn’t it be amazing to earn sweet cash along the way? Check out investment apps, fill out surveys - the list is endless! Just remember to read between the fine lines before signing up to ensure protection of your personal details and data!
5. Sell your stuff!
Let's face it - we've all got some unneeded stuff lying around, whether it's clothes that have never been used to books that have never seen the light of day. Selling your pre-loved items not only gets you some much-needed cash, but it'll also help you declutter your wardrobe! But don't be tempted to add in anything new unless you really really need it (and we mean REALLY need it).
6. Bring out the inner culinary genius in you
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Everyone deserves a nice treat once in a while, but on other days, cut back on eating out and be amazed at the amount of money that you'll be able to save. Not only does it save you a couple of extra bucks (making your own cup of coffee is sooo much cheaper than buying that hot latte), but it's also much healthier to prepare your own meals at home. Time to put your Googling skills to good use and find simple recipes to prepare that won't take up much of your time. You might just lose a few kilograms while you're at it, and gain newfound skills as a culinary genius!
Plus points if you actually love cooking! Pack a few extra meals and sell them to your friends ? There are occasions however when eating out actually does cost you less than packing your own meals. Do your calculations and see what suits you best!
P.S. Thinking of saving money while on holiday? Check out these 8 halal ready-to-eat packed meals to bring from home!
7. Find free things to do
Entertaining yourself doesn't always need to cost a lot of money. Look for free (or cheap) things to do with your friends that get you to bond with each other and won't require you to fork out any cash. Invite friends over for a birthday dinner instead of eating out, or watch the latest movies on your couch. There are also free festivals, talks or walks that happen in almost every major city - You just need to keep an eye out for them and you're good to go!
P.S. Are you in Singapore? Check out these free and awesome things to do in Singapore!
8. Ask for travel gift cards on your special day
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If your birthday is coming up, don't be shy to ask your family or friends for travel gift cards, discount vouchers or even, cash to contribute to your travel fund! For example, day tours are pretty affordable these days, so what better way for them to be a part of your next adventure than a humble gift of experience?
P.S. If you're planning a trip to Tokyo, check out our 6D5N Muslim-friendly Tokyo day trips itinerary!
9. Look out for sweet travel deals and promo codes
Here's where e-newsletter subscriptions come in. We know e-newsletters can be annoying whenever it fills up your inbox, but most airlines, agencies and tour providers share the latest travel packages and promo codes to their loyal subscribers. To keep a lookout for it, you must subscribe to them months in advance. Then, save these newsletters in a separate folder in your inbox, so you can get back to it when you're booking flights, day tours, pocket Wi-Fi, and accommodations for your next holiday.
P.S. Check out these 13 secret hacks to score the cheapest flights for your travels!
10. Do odd jobs
Remember those days when you'd wash your dad's car for 10 bucks? Offer your services and expertise to others for a small fee. Not everyone has the time to take on a second job, but doing things you enjoy once in a while for a little extra income doesn't hurt either!
11. Set up a travel savings account
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The clearest way to see how much you've saved is by setting up a separate savings account solely dedicated to your travel fund. That way, you can see what goes in and out of your account. It's one of the best ways to keep yourself accountable, so you can't sneakily use it for your personal expenses or impulse purchases like getting that new pair of shoes you found online.
12. Get your friends and family on board!
Tell other people about your goal to save up. Not only will it make you feel more accountable (nobody likes people who say things they don't do right?) but you might even have some of them hop on the bandwagon as well and help you on your money-saving quest!
13. Make budget adjustments (if necessary)
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Let's face it - some budget plans don't turn out as great and efficient as we hoped to be. It's important to monitor your progress and see if the current budget works for you. Sometimes, you'll come across financial or social situations where changes in spending habits are needed. For example, if carpooling or taking public transportation is not a great option because your job requires you to drive, try other methods like asking if your company offers parking privileges or work-from-home options.
With all these tips combined, we hope you're on your way to saving up for that dream vacay!