*Saving Money for Your Holiday in 2019

Image from Gal Meets Glam

As we edge closer to the end of winter and the emergence of spring, it’s hard not to start thinking of our summer holidays. Instead of paying for your next big trip by maxing out your credit card, now is the best time to start saving. The guys over at Cash Lady have put together a few helpful tips on saving money for your holiday in 2019 which may prove helpful.

Make a budget 

If you already have a spreadsheet for you monthly expenses, you are one step ahead. If not, list all your outgoings, including rent, food, entertainment etc., and how much you spend each week/month. See where you can cut down each month. Maybe you can take a break from going to the cinema, or reduce the amount of clothes you buy. Make a savings target and then you will know how much you need to save each week/month to meet your deadline.

Create a holiday bank account 

Setting up a new bank account just for your holiday money will ensure it builds up slowly over time. Create a standing order that automatically transfers a set amount from your main account into the new one. (Here is a guide on how to do it published by Barclays) You’ll quickly adjust to the lower amount of money coming in (remember, you have also budgeted for it) and before you know it your holiday bank account will have a healthy amount ready to be spent on a luxurious holiday.

Spend wisely 

Shopping, especially when it comes to groceries, can quickly eat up your income. By the time you get to the till and ring it all up you’ll be surprised it costs so much for so little. Always stick to your spending budget and look out for deals wherever you can find them. Use loyalty points on store cards to save money, while shopping online often proves to be cheaper.

Research your holiday 

There are more options than ever when it comes to finding money-saving deals for travel expenses. Keep looking for cheap flights, hotel deals and travel discounts wherever possible. Set-up email alerts so you are instantly notified as soon as they become available. If you are planning on going abroad, keep an eye out for the best exchange rates that will maximise your spending while overseas.

Sell some items 

Fashion trends come and go quickly, and before you know it you have a stash of clothes that are in great condition but just look so ‘last year’. Sites like eBay and Depop are great ways to sell your unused clothes and accessories without much hassle to make some quick money. Every penny counts, and it can just go straight into your holiday savings fund. Even old mobiles, DVDs and CDs could be worth a few bob or two.

Cut back on bills 

It’s easy to get stuck with the same energy supplier every year, instead of shopping around to find the best deal. However, there are some big savings to be had if you take the time. The Energy Saving Trust claim you can save up to £250 a year by using their home energy check tool. This could add some serious pounds to your holiday savings account in a matter of months.

Do you have any saving tips? Are you currently having for a holiday?