I think it’s fair to say that a little bit of sunshine goes a long way when it comes to making you feel better – and what better way to enjoy the sun than when you are on holiday? However holidays don’t come cheap and when it comes to organising a dream holiday, it’s likely that you’ll need to start putting some savings aside for that. But how do you earn some extra money for this? We have some suggestions which will help you along the way…
Before you start saving, try to work out how much you actually need to have for your dream holiday and what does a dream holiday mean for you? For some people, it could be exploring new places in one of the gorgeous rentals from Cozy Campers. For others, it could be chilling by a swimming pool and doing nothing all day! The choice is yours…
Invest where you can…
Firstly, we recommend thinking about where your savings are. What interest are they earning? The average savings account interest rate is just 0.06%. Alternatively, your money can earn you 100 times that, by investing it into Bitcoin. You can make a solid investment where your savings works hard with a company like AQRU, because you get paid interest regardless of market conditions. Deposits can be made by bank transfer, credit card or Crypto and start bringing you a 7% yield straight away.
With sites like Ebay or Vinted and local buy/sell Facebook Groups it’s quick and easy to start making cash on unwanted belongings. Check your sheds, lofts, cupboards for anything outgrown or unused. Children especially are always growing out clothes, toys and equipment, like pushchairs, buggies and bikes. Give them a clean-up, decide on a price (be prepared for hagglers) and pop them up for sale for someone else to make good use of!
Assess assess assess!
Check your bank statements and Paypal for reoccurring payments. Look into them, what are they? Look out for the likes of gym memberships or subscriptions. Are they necessary or did they seem it at the time, but now, saving is more of a priority? You can also look for regular spending habits, that seem insignificant at the time, but add-up over a month. For example, take out coffees or lunches and carpark charges. Are there simple swaps you can make – like making a packed lunch or cycling instead of driving?
It’s a smart idea to check your utility and insurance providers regularly. Are they still offering you the best value or could you secure a better deal elsewhere? Is it essential or is it a luxury? Small adjustments like this can add up to saving you hundreds of pounds over a year.
Save first – spend later
The final word of advice is to use a method that takes some discipline but is a sure fast way to getting closer to that dream holiday! It’s the “Save first, spend later” rule. Each time you are paid or make money, immediately put a percentage of it into savings. If you have a regular salary paid into a bank account, you can even set up a standing order for a percentage to go directly into your savings. This way you budget according to what money you have left and get closer, more quickly, to that dream holiday.