Are you in desperate need of a family vacation but not sure how you’re ever going to be able to put enough money aside in time? This is an issue for many families, saving for a family vacation in the current climate can feel like an impossible task. That said, there are ways that you can pay your bills, live your life, and save for the ultimate family vacation, and here they are!
Step 1: Set a strict budget
Whether you’re trying to save for a vacation this year or the next, if you want to make sure that you have enough put aside, you need to set yourself a strict budget. This is especially true if you’re looking at family holidays to America or somewhere else where you’re likely to need a little bit more spending money.
Look at all your outgoings to see where you could potentially cut back. Some of the easiest places to cut spending include your monthly food shop, your transportation costs, and eating out/socializing.
Step 2: Plan ahead
There’s no denying that you need to plan for luxury vacations such as a holiday to Canada with LittleAmerica but you can reduce the overall cost by planning. Try to book flights and accommodation as early as possible and, if you can, try to fly outside school vacation times. It can also be a good idea to use a comparison website as these can help you to find the best deals on any given day.
Try to be as open-minded as you can when it comes to accommodation options, as there are lots of budget-friendly options such as family-friendly hostels and Airbnbs.
Step 3: Open a dedicated savings account
It’s much easier to start saving when you open a dedicated savings account as this can allow you to easily track how much you’ve saved and discourage you from dipping into your vacation funds. Even if you can only add $50 or less a month to your savings, you may be surprised at just how quickly it’ll add up over the course of a year.
Step 4: Sell any unwanted belongings
When was the last time you had a proper clear-out of your home to see what items you no longer need or use? This provides the perfect opportunity to make some extra spending money. Make sure you check all rooms in your home including the attic, basement, and any outbuildings you may have.
You can sell your unwanted belongings on websites such as eBay, on local social media selling sites, or by hosting a yard sale.
Step 5: Negotiate lower monthly bills
Most households have a lot of monthly outgoings such as utility bills, subscription packages, and gym memberships, all of which can prove to be costly. However, did you know that you can ring these companies directly and ask for a better deal?
If you’ve been with the same supplier for many years, the chances are that you’re not getting the best rates, so it’s worth your time to get in touch with them and practice the art of negotiation.
