If you have been hankering after a holiday but constantly finding yourself strapped for cash then this article is for you. I present to you five easy ways to make savings for a fabulous holiday.
1. Reduce your bills
Try to cut your bills by employing easy to follow yet effective strategies. In order to reduce your electricity bills, try to reduce the use of dishwashers and washing machines by only turning them on for a full load, turning off lights in unused rooms, and using energy efficient appliances and light bulbs. To save on mobile bills and TV, try to negotiate cheaper plans with the service providers. Make savings on grocery bills by creating budgets, buying items on discount, visiting the local markets, avoiding impulse buys and so forth.
Further, attempting to pay off bills before the due dates will ensure that there are no extra expenses in the form of late fines or penalties.
2. Cut back on coffee
Shun the barista and opt for instant coffees, readily available in supermarkets. There may even be free coffee facility in your office. A predilection for free and supermarket coffees will save you around $900 per year (think one coffee per day for 20 days per month over 12 months, with each coffee purchased at $3.50. Now do the maths.)
3. Curb eating out habits
Eating out for breakfast, lunch or dinner does not come cheap. Curtailing eating outs and turning your mind towards making your own food can do wonders for your holiday plans. Unleash your inner Masterchef and engage your creative mind and efforts in making culinary delights. While making dinner try to make extras to serve as lunch the next day. Alternatively, try to cook up a storm on weekends or mid-weeks to last for a week. You could also substitute dinner dates with quiet night-ins at your own place.
Instead of going to Mexican or Spanish restaurants, enjoy a lovely dinner at home and save up the money to enjoy real Mexican or Spanish in the respective countries.
4. Pay off your credit card
Work hard to make your credit card debt a thing of the past. The interest you will save on your credit card interest payments can go towards your holiday savings.
5. Open a holiday account
Open up a high interest earning holiday account in a bank. Shop around and find a high-interest saving account. Have a look at Ubank’s rates, which are usually higher than other bank rates. Once you have set up a high interest earning account, make it a habit to transfer nominal sums of money from your weekly or monthly salary or income. Before you realise it, you will have a hefty sum of money at your disposal.