Money-Saving Tips For Your Much Needed Vacation
We can hear the voice in your head begging for a quick break. Wouldn’t it be nice to spend a few days reading the best-selling fiction by the shore or sipping tea in a cold cabin far away? We all need a breather, and we encourage you to go and do so.
Once you have mapped out your vacation schedule in your head, the next question to ask is: Do I have the means to afford this much needed getaway? If you barely do, here are 7 easy tips on how to get your finances ready.
- Set a goal.
First things first. How much do you actually need for that vacation? Break down the costs of each expected expense, and align it to your salary, after taxes and government deductions. At this point, a realistic dream is the best way to start.
- Track your expenses to reduce monthly bills.
Record everything you spend everyday. It is recommended that, at the end of each day, get a spreadsheet or notepad for writing down all of your expenses. This allows you to know exactly what you are spending on, what you can do away with to be able to save and reach your goal.
A great tip is to organize your purchases by category (i.e. food, clothing, transportation, entertainment). Evaluate which items you can reduce your spending on and limit your budget for these items.
If it helps, attach photos or actual receipts for easy backtracking.
- Use credit cards wisely.
It is easy to swipe your cards when you see something you like, but not necessarily need. Avoid impulse purchases with a credit card because it makes it harder to realize how much you’re actually spending. Try to have only one credit card in your wallet but ONLY for emergency purposes.
- As much as possible, pay in full and in cash.
In line with with number 3 when you eventually use your credit card, make sure to pay it in full within the next 48 hours. In addition to this, pay in cash! This also means not bringing more cash with you than you need to make it more difficult to fall for impulse buys.
- Plan your meals and snacks.
A cup of fancy coffee on the way to work, bubble tea, vending machine breaks, and take-out orders can be sacrificed for now. Plan and make all of your meals yourself, and this includes being more mindful about your grocery shoppings. Stick to your list!
- Look for part-time jobs or projects.
This is the quickest way to get ahead of your finances and book that vacation faster. If you’re already employed, make sure that your current company allows you to take side projects that won’t be in conflict with your daily tasks. If finding a part-time job is too much of a challenge, another way to get extra cash is to monetize a hobby like writing or making arts and crafts
- Stay away from commercial spaces.
Avoid making unscheduled shopping decisions, from browsing the store windows for fun, making purchasing decisions when you’re hungry or to impress your colleagues will keep you from achieving your goal. Remember: mind over matter!
No matter how little or how much your salary, the fastest way to experience your dream destination is by focusing on the long term and sticking to your plan. And what’s better than saving for your travels? Getting paid to travel! Find jobs that involve travelling to new places on www.mynimo.com today!
