5 Ways to Save for your Holiday

5 Ways to Save for your Holiday

With university holidays coming to an end we brace ourselves for another year of blood, sweat, tears and many sleepless nights. Amid all of the assessment tasks we receive, our only motivation to persevere through each semester is the holidays, our ticket to freedom. Despite the current poverty- stricken financial status we face and our bank accounts being destroyed by textbook fees, we still crave wanderlust – the desire to travel. Here are 5 tips to help you save for your holiday!

  • Don’t eat out as much

I know…impossible right? If you’re a massive food lover like myself this will truly test your dedication and patience. Every day we face delicious temptations whether we’re running errands throughout the day or when we’re on our way to work or university. Who knew errands throughout the day or when we’re on our way to work or university. Who knew spending $20 on a meal every week or buying a cup of coffee for $4 every day is eating your savings away. If you actually work it out you’re spending over $100 a month. Daaaaaaayumm and that’s only for coffee!!! What’s the solution you may ask? Something simple as bringing in your own lunch to work or university will help tremendously. It can be a torturous process in prepping your food especially if you’re lazy, but it will help!!! Treat yourself and dine out occasionally but not daily or you can say bye-bye to your savings m8.

  • Cash > Card

Having in possession cash instead of your bank card with you will limit your spending urges. A benefit is that pay wave won’t take over your life as it once did. We’ve all experienced the dangers of pay wave where all the pending transactions hit you once or when you were unstoppable and pay waved everything on a night out like there was no tomorrow #fierce. This will make the process of not exhausting and completely blowing your savings much easier, as a result of, only spending how much cash you have on you! (Yaass to saving!)

  • Don’t buy unnecessary sh*t!

I’m hands down guilty in purchasing something that I didn’t need or was way overpriced for its actual worth. The retail world is a dangerous place where they attack the weak and persuade individuals (like yourself) in buying pointless items. I know a $80 face wash made from the Dead Sea or even $130 on a new perfume sounds amazing right now but c’mon gurl… you honestly need it?!?!?!

  • Create two online bank accounts

Creating separate savings accounts will help you control your cash flow of income. By doing this you can easily transfer money into an account strictly used for financing your trip. For example, if you transfer at least half of your work salary into your savings account every couple of weeks you will start seeing an increase in your travel funds. Dat moola though $$$.

  • Plan and set yourself financial goals

Along with creating new savings accounts, setting yourself some financial goals (e.g. how much to spend per week) will support in funding your dream adventure! Planning how much you’d want to save will help you focus to achieve your goals. You will be able to grasp and wrap your head around your financial transactions and how to spend wisely. Cutting day to day costs, creating a budget with your current everyday savings and following your financial goals will turn your travel plans from a dream into a reality!

Let us know your savings tips before you go on holiday in the comments below!

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