Too often when we need a vacation, we find that the money is not there. Why? Because we have not planned.

Yes we all like to have some spontanity in our lives. And I will tell you that you can have that and still have a planned holiday without having to pay for it after you enjoyed it. In addition you can enjoy spending without having to worry about the cost of paying back.

What should you do?

Well start planning toady for the holdiday even if you have no idea where you would go. That where the spontanity comes in.

Consider how much you spent on your last holiday, calculate 25% of the amount, add the 2 figures to get the amount you need to save. So if you spent $1000, then 25% will be $250 and the amount to be saved will be $1250. Having done this the next step is to look at how you can save this amount over a period of 12 months. It can be less if you know that your annual leave will be in 6 months or it can be for a longer period.

You should already be tracking your monthly expenditure and tweaking your spending to cut the fat and waste. If not get into the habit now. Look at the areas were you can cut further to help you save toward your holiday.The money can be saved in a special account to which you do not have online or ATM access. This reduces the temptation to dip into the account for frivolous spending.

At the end of the period you reward yourself with a worry free holiday that you enjoy to the fullest.

Have fun!

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Tags: holidays, money
Filed under: Frugal Tips