Finance Tips: saving for travel

Here’s a few simple finance tips to make that dream holiday come true...

Saving before you go

• Set a budget. Work out how much you will need for your holiday (flights, accommodation, spending money, insurance etc.), and divide this by the number of weeks you have left. Put aside this amount each week
• Cut outgoings. Give up alcohol, stop eating out, don’t buy that daily coffee...
• Boost your income. Work overtime and sell anything you don’t need on eBay
• Keep an eye on the currency market. If you exchange your money at the right time, you could nab some extra cash
• Stay motivated. Every time you’re tempted to buy something, remind yourself why you’re saving. Would you prefer that new top or a night in a Port Douglas hotel? That cappuccino or Pad Thai in Bangkok? A night out or snorkelling in Bali? Carry around a picture of the destination in your wallet.

Saving on the road

• Look for hotels that offer complimentary breakfast and WIFI. These sound like insignificant extras, but the savings can really add up!
• Hotels with kitchenettes (or even a microwave and kettle) will save you lots of money on food. Pack some dried fruit and instant soup for an occasional night in
• Explore cities on foot. You’ll save on transport and guided tour costs, and you’ll get a great feel for the place
• Visit museums during discount or free days
• Shop at local markets. You’ll save cash and get to sample the local produce
• Use pass books – but make sure you get good use out of them
• Suss out the local transport – it will save on ‘tourist buses’ and taxis
• Get up early and go to bed early. Theatres, restaurants and nights out are expensive. You can spend your days sightseeing, swimming or at the beach without spending a penny

Learn more about planning for holidays and how to get cheap flights.