08/10/2023 | 4 Comments

We all go on holiday and love it. Some of us even wish to be on vacation all the time. Isn’t it? That feeling of being free from all worries and exploring the beauties of the world is quite matchless. But you must know that these holidays can also serve as a source of stress if you overspend. They can put you in all worries if you return home to a depleted bank account. And why not? After all, no one would wish to have their bank account empty after a long holiday.

However, if you are worrying about the same, do not fret about it. Luckily, there are several strategies which can help you go on your holidays without breaking the bank. Yes! These tips to save money during holidays would definitely be your saviour. These moves would not only limit your holiday spending but also allow you to become a smart traveller. So, whether you are planning a summer getaway or a Christmas savings trip, scroll down and learn about these holiday savings tips.

Set a Budget and Stick to It

The first and foremost step to saving money during holidays is always planning your budget. So, do set a clear holiday spending limit and make sure you follow it. You can determine your budget by calculating the amount you can comfortably spend without any worries. Now, ensure you do not exceed the limit. If you are confused about how to do holiday financial planning, you can divide the budget into categories like accommodation, transportation, food, shopping, etc., and then allocate a specific amount to each category.

Use Only Cash Wherever Possible

Today, in the era of credit and debit cards, it gets difficult to keep track of your expenses as you feel too comfortable in swiping your card. That’s why, when you are on holiday, ensure you are carrying only cash. It is because 1000 bucks in hand feels heavier than the amount on the card, right? So, withdraw the budgeted amount in cash and use it wherever possible. This way you would not be able to overspend because when the cash is gone, you have nothing to rely upon.

Choose Affordable Accommodations

If you want your holiday to be on a specific budget, then it is important for you to go for affordable accommodations. You can opt for hostels and guesthouses as they are often more affordable or cheaper than hotels. However, make sure they offer all the basic amenities that you require on your holiday. But if you are not comfortable going with these cheaper options, then you can look for holiday deals and discounts on various travel websites. You can search online about the same. You can also get great deals on hotels if you make early reservations.

Use Public Transportation

Transportation is another area where you can save quite a lot. But how to do it? Well, you can skip the rental car and utilise public transportation. You can also buy multiple-day passes for your daily travels. You can also walk for short distances and rent a bike to explore local places.

Explore Street Markets for Shopping

Budget shopping

If you are Shopping for souvenirs, then make sure you do not visit high-end shopping malls and complexes. For budget-friendly holidays, it is important to go with holiday shopping on a budget. You can visit flea markets and local bazaars as there you can even haggle for better deals. You can also consider DIY holiday gifts for your loved ones and this wouldn’t even affect your holiday budgeting.

Track your Holiday Spending

Why refrain from using technology when you can and save your money? There are several online applications you can download on your tab or mobile that would track your holiday spending. This way you would be aware of how much you are spending on transportation, accommodation, food, shopping, etc. Moreover, if you overspend in one category, you will be able to cut expenses in another, if you are aware of these expenses. And this is how you can resort to holiday savings!

Invest in 13Karat

Consider it a bonus trip for you to earn extra while you are travelling. You can invest your money in 13karat and expect some great returns. These returns that you earn can be used on your future trips. Even if you have invested only a small amount, you can wait for these small returns to add up for a significant holiday fund. Isn’t that a deal you would want to go for?