Sav­ing for your holiday

The Citizen (Gauteng) - - PERSONAL FINANCE - Martin de Kock

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.

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