Five ways to save for your travel fund

Luckily for you, there are several ways you can save for your travel fund to ensure you have the holiday of a lifetime. Whether you’re heading to South Africa, or another far-flung destination, there’s plenty of things to consider when building your travel fund.

Budgeting for everything from food and accommodation, to activities and travel costs, is an important part of making sure your trip is nothing but fun! You might even want to budget for emergency situations should they occur.

While travel insurance should provide you with cover should you face a medical emergency, if you do come across some unexpected medical bills once you return home (for example for circumstances that your travel insurance may not have covered you for), you may struggle to find the funds to pay for this. While a short term payday loan can provide you with help in a financial emergency, budgeting for unexpected scenarios can give you that extra peace of mind to keep you relaxed! Below, we explore the top five ways to save for your travel fund so that you can go on an enjoyable holiday after all.

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Open A Savings Account
Take it from us, saving for your travel fund is definitely easier said than done. A great way to save for your travel fund is to open a dedicated savings account. Once you have opened a dedicated savings account, you can then decide how much money you will transfer to your savings account each week or month, to enable you to embark on your dream holiday. By opening a savings account, you are much more likely to reach your travel fund target, as you can set up automatic deposits. However, if you decide to open a savings account, it is paramount to make sure that you understand the minimum balance penalties associated with your account when it comes to booking your flight, hotel and withdrawing your travel money.

Save On Housing
Saving up for your dream holiday can feel like a lifetime away, but it doesn’t have to. For those who are dedicated travellers, there are several ways you can save a little extra money to put towards your holiday each month, including by cutting back on your multiple housing expenses. Getting rid of your costly mortgage insurance could be a place to start, which can be achieved by refinancing your loan. By refinancing your home loan, you could attain a lower interest rate, which will ultimately reduce the cost of your payments. Alternatively, avid travellers may want to downsize their home or make a couple of small home improvements to save on utility bills that may significantly add up over the months.

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Spend Less Working Out
Luckily for you, getting a beach body you desire doesn’t have to be expensive. There are several ways you can work out at home for free. Using workout videos from the internet is a great place to start, and enables you to try workouts you may not have been comfortable enough to undertake in the gym. If doing your exercise routine on your own doesn’t appeal to you, why not join a fitness club or attend inexpensive weekly exercise classes to save for your travel fund? Exercise classes cost much less than a gym membership, and over the months making the switch could save you hundreds of pounds to put towards your coming travels.

Limit Entertainment
We understand that you may not want to limit your entertainment, but in order to save for your travel fund, you might want to spend that Saturday night in rather than going out. Instead of going out, why not invite your friends over and host your own party or dinner? After all, who doesn’t enjoy playing a board game or putting on a movie marathon from time to time? If you are eager to leave your home and do something ‘fun’, keep an eye on places offering free admission, and alternative means for entertainment. There are plenty of things you can do for less, such as going to the park with your family and packing a picnic lunch or even try your hand at fishing – well, if you can get the equipment cheap!

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Sell Unwanted Items
One of the most effective ways to save for your travel fund is to sell items you no longer use. Websites such as eBay and Depop are great places to sell your unwanted items, and rest assured that they will be loved in a brand-new home! Even though selling your unwanted items alone might not make it possible to travel, it will certainly help boost your travel fund. Depending on what you plan to sell, you may even make a big gain by doing so! Alternatively, instead of advertising your unwanted good on eBay and Depop, post something on your Facebook wall or take full advantage of the Facebook Marketplace. It’s easy, free and you can sell everything from clothes and accessories to cars and electrical goods.

There are plenty of ways you can save for your travel fund to ensure you can go on your dream holiday. From selling your unwanted items on eBay or via the growing Facebook Marketplace to opening a dedicated savings account for all holiday travel needs, you can ensure your well-deserved break abroad is relaxed, and money worry-free.

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