Budgeting

4 Fun Ways to Save Money For Your Next Holiday

Do you want to take a holiday soon? Are you worried about where the funds will come from? Don’t stress! Saving for that holiday can be easier (and more enjoyable!) than you think. Here are 4 Fun Ways to Save Money For Your Next Holiday:

1. Make it a Team Effort

Everyone loves a little friendly competition! Have everyone in the family save for the holiday. Set appropriate goals for each family member’s age and resources. One idea for “painless” savings is to put all $1 or $2 coins in a jar. Mark on the jar where the top is each week and show kids how quickly it grows. Then, open a savings account when the jar is full (a great opportunity to teach kids about long-term savings!) and start all over again. You can motivate kids further by rewarding them for saving with an extra half-hour of television or some other non-monetary reward. Better still, make a pact that the family member who meets his or her savings goal first gets to choose the holiday!

2. Create and Meet Mini Goals

A huge goal can seem too daunting to even start on, but smaller ones are more manageable. Create monthly or weekly goals for the family to work on together. The grownups should start the process by getting an estimate on how much the planned holiday will cost in total. Then, find out how much the deposit will be (if there is one) and when it will be due. Start there; once you have met the mini goal of saving up that first payment, decide how much you’ll need to save each week to pay for the rest. Count the savings together as a family every fortnight. Keep things fun and interesting by creating a chart for the wall showing how far you’ve gotten, and what you still need.

3. Turn Unwanted Clutter into Cash

Are you surrounded by stuff that you don’t want or need? There is no better time to work towards de-cluttering your home than when you need extra funds. When you look at your stuff, ask yourself, “Would I rather have this thing or take my holiday?” Chances are, the holiday will win out! Outgrown kids’ clothes, jewellery you never wear, that jacket your mum gave you that is lurking in the roof once you start looking, you’ll find many things to sell. Consider holding a garage sale if you have a lot of items to unload; list your sale on a site like Garage Sale Finder or eGarageSales to get buyers. Or, you can list items in online classified ad sites such as Craigslist, Austree or Quicksales. Yet another option is to list items for auction on a site like eBay.

4. Get a Side Gig

Even if you are already working full-time, consider taking a second, temporary part-time job. You’ll be flat chat for a while, but it will be well worth it to get your holiday. Another option is to start your own side business. Think of what you like to do most at work and build from there. Are you great at setting up meetings and events? You could do party-planning on the weekends! Reflect, brainstorm, and ask others what they think you’d be good at — you may identify a hidden talent! Teens can also help out by getting jobs or creating their own side gigs during school breaks. For instance, babysitting is always in demand; list services at a site like Find A Babysitter to get the word out.

If you don’t quite meet your savings goals for that dream holiday despite all your efforts, Credit24 is here to help. We offer holiday loans between $500 and $10,000. It takes just a few minutes to complete the application and no more than 24 hours to get the funds. You can apply online right now or Freecall us on 1300 293 000.