The year is about to end in just a month and now is a great time to start planning for your trips this coming 2014. But before you plan for your next destination, itinerary, hotels, flights and tours; the first thing that I suggest you think about is your budget. Not every one is born with a silver spoon in their mouths and most of us are working hard to be able to earn money to cover for our basic needs and little splurges such as our annual vacation trips.
Here are some of my tips on how to save money for your next trip:
Determine a Target
Sometimes it’s quite hard to save money if you don’t have a specific target in mind. How much are you thinking of spending for an out of the country tour for a week? $1000? $2000? Let’s say that you’re just going to spend $2000 for that trip and will try to not exceed that budget, break it in the number of months before the trip to make it look easier. If your planning to take a whole week on vacation by December 2014, then that means that you still have 11 months to save for it. So divide the target of $2000 to 11 months and you get $181.82. So that’s basically the target amount that you have to save for (on a monthly basis) your travel fund for the next year.
Cut Back On Spending
Photo Credits (Flickr CC): Scissors by James Bowe
Check your monthly expenses. Are there any items that you can live without? Are there any items that you’re paying on a monthly basis that don’t use at all? A few items that you can save money from include magazine and newspaper subscriptions, phone line subscription, etc. Maybe you can just browse the internet about the latest trends in technology, fashion or whatever interest you regardless of reading it in a magazine. Maybe you can downgrade your phone service subscription plan if you don’t use it as much. Maybe instead of buying two cups of coffee a day from your favorite coffee shop, you can just get one instead. These are just a few examples of some things that you can save money from.
Check Service Provider Offerings That You Can Avail
Photo Credits (Flickr CC): Piggy Bank by Hey Danielle
A lot of service providers do have promotions from time to time and sometimes to helps us save money. Do you use a credit card? Check other banks about their credit card balance transfer options. Maybe they can give you a lower interest and better payment terms. Do you have cable subscriptions? Call in for complimentary offers that they could offer you for being a long time customer. Check the business establishments that you frequently transact with and check if they have special privileges to frequent customers. Some of the privileges that you might get include discounts and some freebies.
Be Creative and Generate Additional Income
Photo Credits (Flickr CC): Paintbrushes by Tech109
Are you thinking that regardless on how you scrimp, you still won’t achieve your target savings by the end of the year? Then think of creative ways on how you can generate additional income for yourself. Start by selling your unused items. Then use the money that you’ll get from this to start a small business. Are you creative? Can you make arts and crafts, fashion accessories or other interesting items? If you can then start making some and sell them to your friends or sell it online. Do you have plenty of spare time? You can also get a second job if you want.
These are just some ideas. Ask your friends for some help in brainstorming ideas that can help you achieve your target. There are plenty of ways to save money by minimizing our daily expenses and also by generating additional income.