Savvy saving tips for a getaway
There is still time to save up for your much-needed year-end holiday.
There’s still time to use clever strategies to save for your summer holidays. Do you dreaming of a relaxing getaway this December but worry that you haven’t put any money aside yet?
Shaun Lamont, the managing director of First Group Hotels and Resorts, said you could still have your December holiday with clever budgeting and a few sacrifices.
He shared seven practical ideas that could allow you to have your break:
• Choose a nearby destination
Selecting a destination is essential for creating a budget and saving for your holiday.
Opt for a nearby location if on a tight budget, such as the Magaliesberg, less than an hour’s drive from Johannesburg, with stunning mountains and breathtaking views.
• Hunt for the best deals
Ask friends, colleagues, and family for cost-effective holiday ideas or search the internet for great deals.
Booking directly on a hotel’s website is often cheaper than going through an online travel agent.
Look for early bird specials offered by larger hotel groups.
• Create a budget
Assess your financial situation and set a budget for your trip. Account for travel, accommodation, activities, and other expenses.
Realistically determine how much you need to save monthly for the next few months. The secret to success is not earning more but spending less.
• Cut unnecessary expenses
Reflect on your spending habits. Look closely at your bank statement and identify non-essential expenses that can be trimmed (start by downgrading your bank account). Skip that daily cappuccino to save R1 500 monthly.
Bringing lunch to work instead of buying it could save you between R1 000 to R3 500. Take advantage of specials when buying groceries and minimise unnecessary luxuries. Stay away from the shops as much as possible to avoid temptation.
Additionally, cut back on entertainment and re-evaluate subscriptions like Spotify or Apple Music (save up to R59) and satellite TV (downgrade your package to save up to R300). Review your household and car insurance for potential savings, too.
• Sell unused items
Turn clutter into cash by selling items you no longer need. Host a garage sale or sell goods online to make extra money for your December holiday. Remember, every R10 counts.
• Automate savings
After calculating how much you can save by cutting back, set up an automatic monthly transfer to a dedicated savings account for your holiday fund.
Doing this means part of your income is put aside before any temptation to buy lunch or cappuccinos arises.
• Travel with friends or family
Finally, consider travelling with friends or family and sharing the costs.
Group travel can lead to significant savings on accommodation, transport, and food, besides being a lot of fun.
“Refine your budget and savings plan as you progress, and with consistency and discipline, you will be sipping cocktails poolside, making lasting memories with loved ones, and basking in the joy of your well-deserved December getaway,” Lamont concluded.
