I love spending money on myself, but I also love to travel. I am going to share my secret of how I save for a holiday.
How to save for a holiday and still live fabulously:
- Draw up a budget of your set monthly expenses
- Be honest to the last cent on how much your real expenses are
- Decide on the bare minimum of what you are willing to spend on entertainment and luxuries
- What is left of your income, split in 2
- 50% goes into your holiday fund and 50% stays in your account
- At the end of the month, transfer all money left in your account into your holiday fund
- Open a 32 day notice account for your holiday fund – because you know when you want to leave for a holiday and can time the payout
- An account that requires a notice period will discourage impulse usage of your holiday fund
- Stick to transferring money to your holiday fund account and you will soon have a nice little sum
You don’t have to cut on your daily luxuries too much to not pay for your travels on credit – you just have to save for your holiday and stick to what you put down in your budget,
