Who says the vacation you always wanted has to remain a dream? Not when there are so many things you can do to ultimately fund it. And here are some suggestions in light of getting you started, so you can go on that exotic vacation, to places like the Grand Palace in Hurghada.
1. Set Small Financial Goals That Are Easy To Reach
The truth of the matter is you are not going to generate extra money out of nowhere. If this was possible, you would be doing it already. Unless you start working extra hours or take on another job, which can be very difficult to sustain, you have to turn your focus towards saving.
Yes, saving enough to finally get your dream vacation might sound unrealistic now, but remember to stick to small goals. Because all these small goals will eventually begin to add up. For example, make a point to put a pound in your savings every day. Then try to shop more strategically to save another few pounds. Also, be smart with your taxes and walk when you do not have to drive.
While you save, vaguely start to plan your trip. Get information about the cost and use this information to motivate yourself.
2. Utilise Automatic Transfers
Paying bills and getting through the month can do some real damage to your salary. And it is strange how when you have a little extra left after paying the bills, you end up spending it on something you do not really need. So, why not consider using an automatic transfer the moment the money reaches your bank account? In one swift motion, you put extra money away so you will not be tempted to use it. In fact, let the money go to an account that offers interest rates.
3. Consider Apps To Help You Save
If you look around, you will notice there are many smartphone apps that inspire you to save money towards specific goals. For instances, apps like Digit does the saving for you by transferring small amounts from your account. Then the money gets placed in a savings account.
But there are several other options you can entertain, such as Acorns and Qapital. These apps will round off purchases and send the change to your savings account.
4. Use One Credit Card At Dinner
When you are out with friends or family and you have to split the cost, why not offer to do a single payment with your credit card? Afterwards, your friends or family members can simply repay you. And the reason for using a single payment is based on the possible rewards you get.
Some companies will reward you for using your credit card at certain places like restaurants. Plus, it saves everyone the trouble of having to calculate what they owe, which ruins the lovely time you had.
5. Say No To Impulse Buying
There is something about seeing a sale that makes you throw all caution to the wind. But take a moment to think about it. Do you really need whatever is being offered at such a lucrative price? And consider how this purchase is going to set you back in terms of reaching your bigger goal.
If you are serious about taking that dream vacation, you have to start saying no to impulse buying. As hard and tempting as it may be, you need to stay in control. Do not fall for cheap advertising tricks as well, like companies telling you the same opportunity is never going to come again.
6. Hunt For Discounts
For those with extra monthly expenses such as life insurance and cellphone bills, go ahead and give these companies a call. And you are making the call because you want to know if they can offer you a discount. You should also get quotes from other companies and see how they compare. Maybe you are paying way too much, and you did not even know it.
Remember to be respectful during your call. Instead of sounding rude, you want to come off as firm and serious about saving money. Keep in mind these people have a job to do as well.