Who else feels like they are forever in need of a holiday and some relaxation?! I sure do, especially since becoming a Mum. I think being a Mum brings a whole new level of tiredness! On a side note, it’s surprising how your body adapts to the limited, broken sleep – quite impressive really! Anyway, I’ve written about the importance of rest before and we all know it’s good for us, so now lets look at something practical that helps us attain that much needed break – budgeting for a holiday! Money is one of the biggest reasons people decide not to go on holidays or take a break, so lets look at how we can best manage it to ensure that we are taking holiday breaks as we need them.
Work out how much you will need for your holiday
Once you’ve decided what you want to do, spending time working out how much money you will need to help you work out a realistic cost for the holiday. Consider big expenses like:
- entertainment & tours.
Make sure you also allow for little holiday splurges too – perhaps that’s a massage, a nice restaurant dinner or a day trip, or a shopping spree! If you cater for these in your budget and savings it means you won’t be concerned about money the whole trip. Not only does it reduce your stress but it also means you’re not coming home to a huge credit card bill. Lastly, don’t forget those pre-trip costs like travel insurance, new clothes (eg. walking shoes, new swimmers or comfy loungewear) and if you’re travelling overseas, your visa and passport costs.
Consider how you spend your money now and where you could make changes to save money
Look at your current budget & use a budget planner
If you don’t already budget, it’s a great way to see where your money is actually going. This is essential knowledge when it comes to budgeting for travel because once you know that you can see where you could make changes to save more money for your holiday. My favourite budgeting tool is the Money Smart Budget Planner, it’s really simple to use.
Make a savings plan
Look at your budget and consider where you can save by spending less on non-essential items. These might include things like clothes, restaurant meals, coffees, buying lunch at work, entertainment costs, or weekend outings. It’s also important to look at how you will manage the money you save to make the most of it by earning interest on it. Look into long-term deposit or savings accounts.
Make a visual of that goal
Once you have your plan, make visual reminders of the goal and the steps you will take to get there. For example, if you plan to buy less coffee at work, you might keep a pretty coffee cup on your desk to motivate you and remind you to have coffee at work rather than heading to the local café. Keeping motivational posters with either pictures of your holiday destination or the monetary amount on the fridge or the back of your phone is another good way to stay focused on the savings goal too.
Have a back up plan for emergencies
Whilst it’s good and well to plan for the amount you need, sometimes on holidays things come up and you need cash fast. So to reduce the stress if this happens, have a plan of where you will get that cash before you go. Nimble is a good back up, they offer quick cash loans. These can be very handy in an emergency, or for last minute additional travel you might wish to do.
This post is proudly sponsored by Nimble, all thoughts and opinions are my own. Thank you for supporting the brands that make Eat Pray Workout possible.