When the summer holidays are approaching we all imagine being enjoying the sand, the sun and the beach, or strolling through some big city or tourist point, but the economic reality sometimes truncates our plans. For this reason, it is essential to learn to save throughout the year that allows us to fulfill our dreams. Remember that your holidays cannot start the day you leave home, you must plan and save throughout the year so that you can fully enjoy this time of year without thinking about other daily concerns. So we share these 7 tips to save money for your next summer vacation.
GOAL TO SAVE
First of all it is very important to be clear about our objective, that is, where we want to travel or what place we want to know. If we don’t know where the goal is, we can hardly make a plan to reach it. Thus, we must calculate how much money it is necessary to save money per week, or per month ($ 1000, $ 2000, etc.), in order to collect the necessary amount at the end of each year.
The most advisable thing to do is to establish short-term objectives that we can achieve and not get frustrated along the way.
ALLOCATE PART OF THE SALARY TO SAVINGS
It is recommended to allocate 5% or 10% of our salary each month to a savings fund or savings bank. Once the bills or debts have been paid, and we have acquired what is necessary to subsist (food, clothing, etc.) we must separate part of our earnings for our dream vacations.
At first it will not be easy, but now is when we must be more persevering. Otherwise it will not be possible to achieve the objective.
REVIEW MONTHLY EXPENSES
Keeping a detailed count of our monthly expenses is essential: rent, insurance, mobile phone, etc., to avoid surprises or detect if there are unnecessary expenses that could be eliminated. There are various applications or tools that could help us in this task. For example, we can build a spreadsheet in Excel where we specify each of the expenses we make and even what we are saving.
MAKE A BUDGET
Being clear on how much money we spend and what we spend it on can help us establish a budget. According to the data that we can collect from the previous point, we can prepare a weekly budget and determine, for example, the amount of money destined for leisure. Could you go out to eat less? Do I need to pay as many subscriptions on TV?
In this way we will be able to allocate the money that we think is convenient each week for fun or recreation.
START SAVING NOW
Don’t waste any more time. The moment is now. It doesn’t matter if you don’t know the exact date of your dream trip, start saving now. Going back to the first point, it is advisable to set a goal, better if it is a short-term goal. Think about what you can get to gather each week, and then each month, always, of course, with the final goal as a point of reference.
Most people often complain when the end of the year comes and the heat afflicts them. To avoid these frustrating moments, we should not waste any more time and get to work as soon as possible.
MOBILE APPS AND TOOLS
As we pointed out in the third point, you can use a program like Excel to organize your expenses, but also, there are endless mobile applications that can also give us a hand to manage our finances. They are free and easy to install.
We can not only find apps to organize expenses but also apps with discounts for supermarkets or certain businesses. This is a good way to save too as it will prevent us from overspending on specific products. All the money that remains, we can save it.
One of the recommended applications is “Control Expenses” which, as its name indicates, will help us control expenses and establish a savings plan. It even allows us to upload images of items that we have purchased or receipts that we must pay. You can find this app and other alternatives in the Android app store.
In short, these are 7 essential points to learn how to save money. If we manage to apply them, we will be able, at the end of the year, to fulfill our dream vacation. Of course, the beginning will not be easy and thousands of times we will be tempted to use the money from our savings, but, at this time, we should not lower our arms and think about the final objective. When we find ourselves enjoying the journey, we know that all the effort will have been worth it.