It’s that time of year again… Where it’s cold and miserable outside and we sit at our desks longing for a beach escape. For a lot of us, a holiday just isn’t in the budget. But with careful planning and budgeting, you may be surprised that you can get more bang for your buck!
Prepare during the year:
Even if you live on a budget, making sure that you don’t miss out is still important. Budgeting for a break is important not only for your mental wellbeing, but also so that it does not cause extra financial pain on your bank accounts – it is easier to add a little extra into the holiday fund if you need, rather than cover the entire cost in one go.
- Put a little bit of your pay into an offset account against your mortgage each week. This way you can benefit from the small interest you will earn, whilst watching your holiday fund slowly grow.
Save money around the house on your general utilities – and put that money towards a break:
- Dress weather appropriate – put on socks and a jumper around the house and turn the heater off when the room has warmed up.
- Make sure the lights are off in rooms that you are no longer in – electricity costs can be a burden on families, and small changes can make a noticeable difference. Turn all the lights off and use candles after dinner when you’re watching tv, you may find you’ll even enjoy the cozy ambiance!
- Pack your lunch for work rather than buy it, and instead of a brunch catch up with friends – walk around Albert Park Lake instead, it’s free and good for you!
- Small savings in your everyday life can really add up and be are a great way to save without feeling like you are missing out!
There are so many websites that can help you snag a great deal on accommodation, but it’s often the flights that break the budget when planning for your holiday.
- Book in advance – whilst it isn’t rocket science that the closer to the date you purchase your tickets, the more expensive they are, it is often hard to avoid this trap. This is why it’s important to plan your year ahead and your escapes. We all know how we feel come mid-July, and how desperate we are to get away. Make sure that you plan holidays or weekend getaways in advance. Planning the year ahead not only lets you benefit from the cheap flights, but gives you something to look forward to and spaces out the costs on your hip pocket.
- Book your flight in off peak times of the day – before 8am or after 8pm
- Travel in the off or shoulder seasons – this way you beat the crowds, and will save money on airfare and accommodation costs.
Fun fact: flights on a wednesday are statistically cheaper than any other day.
Save on accommodation:
- Be savvy with your accommodation – use a comparison website to ensure that you are getting the best rate, and don’t shy away from (trustworthy) accommodation deals.
- If you really want to immerse yourself in lifestyle of your destination, consider renting an AirBnB. Not only will you cut accommodation costs, but you will you have your own kitchen and fridge to avoid extra food expenses.
- Rather than put your furry friends into a pet hotel or kennel, consider a house sitter. Often house sitters charge little to no money, and will look after your home and your pets. This could save you hundreds of dollars on pet accommodation.
Making sure that you include the fun things in life into your family budget it just as important as budgeting for your groceries. Your budget should be helping you reach your goals and keep your spending in check, but not deprive you of things that you enjoy.