How To Save Money Towards A Holiday

Taking a break from normal life and going on a holiday is something which a lot of people look forward to. If you are somebody who works a full-time job, a holiday allows you to have some relaxation time. Although, the main downside to holidays on a whole is that they can be very expensive. Depending on your holiday type, destination and duration, your holiday could range from a couple of hundred pounds to way up in the thousands. So, they are definitely occasions which you need to save up for. But, how can you save money towards a holiday?

Create A Realistic Budget

Anybody can go away and say they are going to save a specific amount of money every month.  Although this is great, instead of just guessing and amount you need to make sure you save money you can afford. To do this you need to create a realistic. By this, we mean a budget which allows you to pay for essentials, pay for things you want and then have all the sections for savings. Before you begin guessing on your budget, you should sit down and take the time to understand your personal finances. You may want to use previous bank statements, payslips and other financial documents. This way you can get a true amount and incorporate it into a budget. After you have sectioned off the amount for your essentials, you should then decide how much you want to save for emergencies and how much to save towards a holiday.

Do Your Research

After saving up money for a holiday for the last thing you want to do is pay more than you need too. We suggest shopping around to find the best deals as travel is a competitive industry. Most of the time, certain websites will have certain holidays cheaper than others. For example, ‘Jet2‘ may be cheaper than ‘On The Beach‘, but it also depends on the destination. Along with this, you could also compare package holidays to the same hotel and flights separately as it may be cheaper.

Make Sure To Plan

We suggest that you find a specific holiday destination you would like to visit and work your way from there. You should try to gain an understanding of how much the holiday may cost. This is so you are aware of how long you will be budgeting that section for. If your holiday costs £1000 and you are saving £100 a month then you will be saving for 10 months. Following that, you can use that gap in your budget for something else. If you are undecided and you have not found a holiday right for you yet, you could put away as much as you feel is sensible and then decide later on.

Our Help

Here at Simple Personal Loans, we offer holiday loans so you can spread the cost of your dream break. Although saving is a better option, if you are somebody who cannot stand the wait, why not borrow a loan and jet away now?