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A Guide to Saving for Your Next Getaway

Travel Tips - Ross French - June 16, 2021


Everyone deserves a chance to unwind and de-stress, and a vacation can provide an opportunity to do so. Yet, traveling to different corners of the globe is not cheap, which is why you may need to save up throughout the year to fund a much-needed break.

If you want to travel overseas in the near future, read this helpful guide to saving for your next getaway.

Create a Vacation Budget

Never run out of money by setting a vacation budget. You will need to factor in the cost of:

  • Accommodation
  • Flights
  • Airport transfers
  • Food and drink
  • Transportation
  • Activities
  • Travel insurance
  • Souvenirs

A vacation budget will ensure you do not need to count every penny at your destination and can enjoy your getaway.

Open a Savings Account

Once you have a vacation budget to work towards, you should open a credit union savings account that offers a competitive rate, 24-hour access, a dependable app, and automatic transfers between accounts. It will encourage you to set money aside for a trip each month, and it can make paying for a vacation feel much easier.

Cut Your Grocery Bill

You do not need to sacrifice freshness, quality, and good health when attempting to trim your grocery bill. You could make superb savings throughout the year by buying in-season produce and switching to cheaper ingredients.

Also, you could slash the cost of your grocery bill at the checkout by using coupon codes for various products. You can then add the money saved into your vacation fund.
Find Ways to Save Money

Cutting your grocery bill can increase your bank balance, but other clever tactics can improve your finances. For example, you should:

  • Use comparison services when buying online
  • Skip the daily chain coffee
  • Buy products from daily deal websites, such as Groupon
  • Use vouchers at restaurants
  • Car share with a colleague to work
  • Recycle an old smartphone or tablet for cash
  • Sell your unwanted possessions

Travel Off-Peak

Slash the cost of a trip by traveling to your desired destination during an off-peak season. It could help you stay at the same hotels and embrace the same excursions for a fraction of the costs during peak seasons.

Eat Local

Skip the expensive chain restaurants when on vacation and sample the local cuisine. For example, street vendors are not only much cheaper than commercial venues, but they will allow you to experience a nation’s many fantastic dishes. For example, if you are in Bangkok, you can enjoy fried rice or Baan Yai Phad Thai for as little as $1. So, step outside your comfort zone to save money during a getaway and enjoy many new and exciting flavors.

If you follow the above top tips, you could save a substantial amount of money to pay off your next vacation. Plus, you must look for ways to reduce your expenses once you arrive at a destination, such as taking public transport over a taxi, trying street vendor dishes, and swapping commercial attractions for hidden gems.

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