Are you longing to escape for a while but don’t have the right funds for the big, exciting excursion you want? Life tends to get in the way of our adventures, and it’s very easy to accept that you may never be able to afford the holiday of your dreams. But this doesn’t have to be the case. There are a number of means by which you can quickly save up the amount you need, whether you want to travel the world or have just one exotic destination in mind. Here are some of our top tips when it comes to raising funds for that all-important getaway.
Take on More Work Temporarily
If you have an amount and a deadline in mind, one of the quickest ways to save a little extra is to take on another job part-time. It may not be particularly fun, but it doesn’t need to last for long. Retail and bar-work often offer flexible contracts that can fit around your schedule, with many places only requiring extra staff over the summer or Christmas holidays. By working more for a short period, you can earn quite a lot relatively quickly. Be sure that you don’t overwork yourself, however, or you’ll be spending the whole of your getaway in recovery.
If you’re paying off a mortgage or student loans, you may have valuable finances tied up in your repayment arrangements. Remortgaging allows you to release equity, which can then be used to pay for your travel, while the refinancing of any student loan with a private lender might see an adjustment to the interest rate and the size of your repayments, possibly helping you to save more.
Put a Little Aside with Each Paycheck
One of the simplest ways of saving is to transfer a little money from your weekly or monthly wage into another account. There are apps available that will do this for you automatically. Depending on the amount you transfer, you’ll be able to time the growth of your vacation fund so that the full amount is achieved in good time for your departure.
This option may sound obvious, but it can be extremely helpful. Surprisingly few people know how to draw up a solid budget. All you need to do is to keep a precise record of your expenditure over a single month. Include everything, right down to your snacks. Then take a look at your income. When you take the first amount from the second, how much is left over, and how can you sensibly increase that amount? Try to cut out non-essential spending where possible. Instead of a gym membership, why not take up running or cycling for a while? Swap out branded products for your supermarket’s own-brand goods, and brand-new designer clothing for quality second hand finds. Each little amount you save in this manner will go towards your upcoming adventure. Just make sure that you’re not making life too difficult for yourself by being overly ruthless.