Saving for your holiday

Enjoy your holiday with these money-wise tips:

Budget

If you need to use credit to go on vacation, you can’t afford it.

Start your holiday planning by drawing up a budget. Think of as many types of expenses as possible to avoid nasty surprises, including travelling, accommodation, car hire, excursions, entertainment and meals.

Get the whole family involved.

Start saving

You don’t miss what you don’t have.

Treat your monthly holiday saving the same way you would a bill. Keep the monthly saving at a manageable level.

Give the fund a name, like Awesome Vacation Fund.

Put a progress chart on the fridge.

Having one or two no-spending months and saving the normal entertainment budget in the vacation fund can end up being the biggest contribution to your goal.

Timing

If you don’t have kids at school, you could save much by holidaying out of season.

Out of season times provide opportunities to use special offers.

Gi s

Budget for Christmas gifts.

Make a list of people you need to get gifts for, the types of gifts and their rand value. Planning gift shopping in advance will prevent last-minute shopping sprees that often mean overspending.

Consider offering to baby-sit, house-sit or pet-sit for family or friends. House- or pet-sitting for a small fee over weekends or short breaks could help you save for your own holiday.

Travel arrangements

Arranging flights a day later or earlier could save you.

Browse through airline websites and look for specials.

When flying overseas, you could save a small fortune if you’re prepared to endure a stopover rather than flying direct.

Credit cards

Paying for flights and accommodation using your credit card (then immediately paying back your credit card) often ensures free travel insurance. However, don’t go on holiday on credit.

Martin de Kock is with Ascor Independent Wealth Managers

Think of as many types of expenses as possible to avoid nasty surprises, including travelling, accommodation, car hire, excursions, entertainment and meals.