Having been to over 57 countries I often get those comments “Oh you are so lucky”. I can tell you right now there is no luck about it, it is careful planning and considerations that have allowed me to jet-set around the world for most of my life. You can too, this is how to save for a holiday.

“I don’t have enough money to travel” or “It’s too expensive” are some common excuses I hear. You don’t need to be a millionaire to travel; we are so fortunate in the 20th century that leisure travel has been opened to everyone; not just people with money. Travel is not out of reach for anyone anymore, you just need to know the best ways to save money for a holiday. Yes, we all need a job and money to live; but you can’t let it rule your life; you will always make money if you need to, so don’t let this hold you back.

The human brain needs something to work towards and to look forward to this creates drive and passion, so for you to reach your goals we are going to go through a step by step process of how to save money for a holiday.

By the end of this post, you will be equipt with the knowledge and passion to jump to the resource page and start planning your next big adventure

There are two types of travellers in this world, the wing it and pay for everything on the move and the more conservative travellers. Personally, we are the type of people, who like most of our trips to be booked and paid for before we go. By booking and paying for most things before you leave allows you to stick to a budget (mostly) there is always going to be unexpected expenses pop up, however by planning ahead you are prepared.

1. PLAN

Figure out a destination you want to visit

Keep in mind some places are more expensive than others, for example, the Maldives is quite an expensive destination so if you are working on a tight budget look at somewhere that is affordable to get to, book accommodation and spending money.

Work out rough dates

Work out how many days you can afford to take off, keep in mind that bills keep rolling in while you are away so you need to ensure you can cover that. When planning your destination you will have to take into consideration your time off work. There is no point taking a week of work and wanting to fly to the UK, you will lose 2 if not 3 days in travel alone. Be realistic about your destination and time frame.

Planning stage and then how to save money for a holiday

The key is to plan; plan it out so you know what you are working towards; and the realistic time frame you have, to save the total amount. As mentioned before the bills still keep rolling in; so don’t leave yourself short, sit down and work out your bills; food, fuel, rent, power, family commitments and ensure you add that into your total to save when planning a trip. This way you won’t be struggling when you get home.

You also have to plan out your trip, price out the flights, accommodation, transfers, airport parking, tours, city taxes, tips, and most importantly TRAVEL INSURANCE. This does take time…but… it will save you money in the long run! You know what you are up for and have to save for a holiday.

2. BUDGET

Spending Money

How much spending money should you take?. This is a bit of a tough one because we all have different tastes and ideas. Personally, we are not luxury travellers we are more bang for your buck kind of travellers. We like to get the most out of our travel experience; so, we go a bit lighter on the “shopping” and expensive restaurants. We choose to eat at markets, local restaurants for the simple fact of the budget; and it is more of a genuine experience than the big chain places.

Set yourself a daily budget

Set a daily budget which includes; food, any extra activities and souvenirs, A good base is between $100-$200 a day; depending on where you are travelling (some places are more expensive than others). Load the money onto a cash passport. Once you arrive in a place withdraw 3-4 days of money at a time. Separate the cash out; hold that day’s budget in the wallet to spend and put the rest away. Some days you will find you spend it all; some days you will find you will have some leftover which means you have more for the next day. This also ensures that you will have money for the whole trip; and not just for the first 5 days. See our complete guide for travelling with your money for some money guidance on keeping your hard-earned money safe.

Sometimes you have to splash the cash

There is sometimes the case that you want to splash out on something that you haven’t budgeted for; it may be a Japanese knife, skydiving or something random that just pops up. DON’T hold back, do the experience, buy the Japanese knife because you will regret it; when you get home and there is nothing worse than saying “I should have done that;” because there might not be another opportunity like it.

How to save money for a holiday

3. SAVE

Work out your time frame

It will depend on your financial position as to how much money you can put away each week; for example, if you are planning this trip for

3 months time $6300 / by 12 working weeks; you would have to SAVE (and not touch) $525 a week.

If this is too much to put away each week; work on a longer time frame; 6 months or 24 weeks $6300 / by 24 weeks is $262.50 per week.

Have a sub-account dedicated for travel; contribute the same amount to it each week and it doesn’t get touched at all!!! Then when it comes time to pay for the trip, it is a lump sum ready to go! Saving money for a holiday is going to require a little bit of discipline and sacrifice, saving can get boring but you have to keep that dream trip in the back of your mind and it will all be worth it.

4. TRAVEL

Travel is the one thing you will spend your money on that will live on with you; in your memories and stories. Travel will teach you things about the difference in cultures, traditions and most of all about yourself. It will change you as a person you become more accepting, passionate, open and curious. Sure you could go spend your money on a new TV, Car or just useless junk; but at the end of the day, they will fade and does it really bring that much joy?

It can happen and you can do it, it is not impossible! Stop letting the fear of money stop you from living your best life!  Hopefully, our guide on how to save for a holiday has inspired you to make a plan, work on the plan and make it happen! Head over to the resources page for links to booking with some of our favourite companies. Then check out travel tips, travel planning and of course packing guides for some more inspiration to prepare for your dream trip.