There's nothing more exciting than deciding to go on holidays. The minute your mind is made up you start to picture all the incredible things you'll do once you've made your escape - elephant trekking in Thailand, living like a local in Fiji, the possibilities are endless. It's also very likely you'll park yourself by the pool for a fortnight, but either way the build up is almost the best part. The only thing left to do is get your finances in order and that's where the fun can quickly turn into frustration.
We bring to you, the 6 stages of trying to save for a holiday!
1. The Impulse Book: You’re Going Away!
A co-worker returns from a trip looking tanned, relaxed and terrific, while you feel overworked, underpaid and oh-so-pasty. So when a friend mentions that there are budget flights heading to an exotic location - think Fiji, Hawaii, New Caledonia - you jump at the chance. All that's left to do is the obligatory Facebook status update - Guess who is headed overseas!?!? - oh, you realise, you better start saving too.
2. You've Got Ages: Don’t Worry about Money, Honey
After an extravagant splurge on a weekend shopping spree a family member remarks that you’re being awfully cavalier with your cash for someone headed overseas. You scof, “Please, my trip to New York and LA isn’t for another 12 months, I've got ages!” Though you do make a mental note to maybe hit pause on all the new purchases.
3. Start to Save: A Dollar Here, A Dollar There
Because you're a proper, responsible adult you know that you literally can't leave your saving to the last minute. And so you start to squirrel away some money, but of course there is still dinner and drinks with your work friends on Friday, plus the car insurance is due. You make a deal with yourself, put away a little bit from each paycheck but still live your life. Then, when the trip is closer, you'll go into hardcore savings mode.
4. Oh Wow That's Crept Up Quickly: Do I Need A Loan?
The trip is closer. It's a month and a half away and your bank balance looks more suited to a weekend in Sydney than a month in Singapore. The stress kicks in and you seriously consider getting a short term loan in order to cover the trip. Ultimately you decide against it and just commit to being a smart traveler. “I'll make breakfast at the hotel each day when I'm away,” you tell yourself, knowing it's a big, fat, lie.
5. Panicked Penny Pinching: Save Everything You Earn
You're officially in full blown meltdown mode, the holiday is less than two weeks away and you're not even remotely close to having the cash required. Your friends are concerned because they haven't seen you in weeks, unbeknown to them you haven't left the house for fear of spending money. Surviving mostly on two minute noodles and cups of instant coffee, you're seriously considering going to the casino and putting it all on red
6. Time To Jet: But You Can't Run Away From Your Money Woes
The day has finally come for you hop on a plane and fly, fly away. While you should be over the moon - Bali is beckoning! - you can't help but feel a little anxious. The reality is you'll be keeping one eye on your daiquiri and the other on your dollars. What was meant to be a carefree getaway is turning into a juggling act, as you try to reign in your holiday spending while also having the time of your life, hardly ideal!
If any of the above sounds familiar, layby your holiday, and your saving money! With no deposit, no fees and no debt it's the perfect way to pay for a holiday upfront on a weekly, fortnightly or monthly basis. If you add spending money even more pain is taken away for you, we simply transfer the money back to you before you travel. Sound good? Click here …