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Do you want to save money for vacations but can’t seem to get it done? Are you interested to learn how to save money for LUXURY vacations? You may be surprised to know that luxury vacations are not only for the wealthy. With a little planning and determination, even those on a modest budget can enjoy luxury vacations. Read on to learn how…
Before we begin, let me ask you a question: What’s worse than no vacations? Answer: Boring, budget vacations that you have spent your hard-earned money on!
Holidays are the time to experience new stuff. To really get out of your everyday routine, see amazing things, do crazy stuff, and just feel alive. Am I right?
Like me, you work hard the entire year and now you want to get away.
You KNOW about all the terrific tours and activities at your holiday destination – cool stuff that you probably won’t take advantage of. Why? Because airline tickets cost money. The accommodation costs money. Transportation costs money. Then you have expenses for food and souvenirs as well.
But you deserve this just as anybody else, don’t you?
Plan to Save for Your Vacation
Here is how you can have it all. In this article you will find little ways as well as big solutions that will help you boost your vacation budget so that you can still get the full experience:
- Take all the tours you want
- Eat at the best restaurants
- Enjoy the luxury and privacy of holiday mansions
- And, most importantly: don’t worry at all
Some of the tips in this article may be great new ideas that you haven’t thought of yet. Others might seem pretty obvious. It doesn’t matter. What matters is: are you implementing it or not?
Take whatever you feel useful and set up your vacation money saving strategy. And look forward to the best trip of your life.
Are you ready? Let’s begin…
Tip: Avoid impulse purchases
Who hasn’t experienced this over and over again? You go to a store in order to buy specific items that you truly need.
All of a sudden you see yourself contemplating to buy a product that you hadn’t even thought of before. Maybe it’s the offered discount that makes it look like a once in a lifetime chance to get the item while saving money.
Or it could be the flock of people buying the product giving you the fear of missing out.
You may also have developed the habit of buying new things to make yourself feel better, or to reward yourself.
That’s where we lose LOTS of our money.
Instead, focus on getting only items you really need. It’s good to write a list at home and then stick to that while shopping.
If you do come across a product that you’d like to buy but isn’t on the list, just sit on that purchase for a few days and wait to see if it really offers you any real value or happiness. The bigger the price, the longer you should wait.
If it does, get it. If it doesn’t, put the remaining money aside for your vacation. Remind yourself, that this money is really for treating yourself to the greatest holidays of your life – just a few months away.
Tip: Set an automatic bank transfer
This means you get to save a certain amount of money every month.
Once your salary arrives, you pay your fixed expenses first. Then you take whatever you have calculated for covering other necessary costs like food, clothing, and education. You could also set a budget for fun activities during the month, such as eating out or going to the movies.
Whatever remains of your salary, you can tell the bank to put in your travel funds account. This is a great way to actually prevent spending all money that is left after expenses on stuff that you don’t necessarily need.
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Tip: Use your tax refunds
Some people get tax refunds because they pay taxes faster when compared to others. The idea here is to use the tax refunds as another means to save money and add it to your holiday budget.
Tip: Stop online subscriptions
We all have some little subscription fees here and there that we have either forgotten about or don’t get around to cancelling.
Take an afternoon to go through your online subscriptions and see what you really use.
Most people subscribe to stuff they might not be using every month. So it does make sense to stop the subscription and acquire it only when you really need it the most.
These small fees quickly turn into a decent amount of money when added together.
So don’t underestimate this.
Tip: Create a website and generate passive income
How about starting a business on the side that has the only purpose of generating some passive income for to cover your luxury vacation costs?
This can be anything from blogging to, drop shipping, or affiliate marketing.
As long as you create a blog or a YouTube channel you open the door to lots of great monetization options. There aretons of courses offering valuable insights on how to build a profitable online business.
If the goal is to add $500-$1000 a month – then that’s more than realistically achievable.
Invest some time on your weekends and this might pay off for years – if done right.
Tip: Take the bike to work to save money for vacations
Taking the bike can help you save money for vacations in many ways. I
f your workplace is in a reasonable distance for you to cover with the bike, this can be a real winner, as you won’t only save the money spent on gas and/or public transportation but also improve your health at the same time.
Even if it’s $5 a day to get to work and back – that’s $25 a week – $100 a month… per person!
And while you are at it – also make sure to take your own lunch to work.
Forbes magazine states that the average American spends $936 per year buying lunches alone. That doesn’t even include that $4 coffee you might get at that famous coffee spot.
I’m not American, but I have made my own calculations – and I’m wasting even more money.
Change these two things and there you have a good sum of money that you can save to your vacation budget and use it to go really crazy once it’s time to go crazy.
Tip: Travel with other people
A good way to save money for vacations is to simply travel with others.
This way, you can split many costs such as local transportation fees. This makes especially sense when you plan to get one of these palacesinstead of going to a hotel.
If you share the costs with a bunch of friends or family members, you’ll get to stay at your own luxury mansion while enjoying all the perks of a top-notch hotel – and actually save lots of money while doing so.
The same applies to many activities and tours, in which you might get group discounts – so why not take advantage of this one?
Tip: Stop using credit cards
Do not spend money that you don’t own. Especially when trying to save money for your vacations.
Only use your credit card when the money is actually in your bank account. Otherwise you will end up spending more than you have and having to relocate funds – such as your vacation budget – to pay off your credit card debts AND all the interest on top of that.
If you can’t control yourself in regards to your credit card spending, hand them over to your spouse. That way he or she can double check with you whenever you want to use your credit cards, and stop you if necessary.
Or, you could just get rid of them. Nowadays there are different ways to pay online, too. But those require you to actually have the money you intend to spend – which is a much healthier approach.
Tip: Offer freelancing services online
This is similar to tip #5. However, you might not have enough time to actually build an online business next to the job you already have.
If that’s the case, offering freelancing services online might be a good option to make and save money for vacations.
Freelancing has the upside that you can freely decide when to accept a job and when not. So there’s no pressure. While an online business does require a certain amount of hard work until you get it to the point where it can actually generate more or less passive income.
If you really niche down in one field, you can quickly gain experience and build up a portfolio. That way, you can charge enough for your services to make it worthwhile and work just enough to be able to save money for luxury vacations without having to worry a bit.
As you can see, there are lots of ways to save money for upcoming vacations.
Your focus has to be on finding some fresh, creative ways to spend less on your daily items if possible. And if you can’t, just try out various new income streams.
I hope that some of these tips will put you in the position to enjoy the most lavish, worry-free holidays of your life. If so, please let me know – and send some pictures, too!