Saving for a holiday

Whether it’s snorkelling on the Great Barrier Reef or going on safari in the Serengeti, your next holiday is sure to cost you. There are a few things you can do to be sure that you come back refreshed and uplifted, and not back to a massive amount of debt.

First things first- Work out your holiday costs

The cost of your holiday depends on where you go and how you like to travel.

Some costs to consider include:

  • Airfares or transport costs
  • Accommodation
  • Visa and passport charges
  • Travel insurance
  • Transfers and transport at your destination
  • Food
  • Entry fees to sights and activities
  • Souvenirs
  • Entertainment costs
  • Extra money in case of emergencies
  • Charges for using your phone for calls while you’re overseas

Be an early bird

So your ideal destination is out of financial reach this year. Get in early and book for next year with sites such as and who often have reductions for people willing to book in advance. Although booking your accommodation in advance is a good idea, booking flights too far ahead isn’t always the best move. Keep an eye out for deals and be prepared to snatch them up when they come along.

Make a budget and save, save, save!

Create a budget to see how much you need and how much you can realistically afford to save. Then have a look at your day-to-day expenses and assess what every day things you can go without for a few months. Some things to eliminate are eating out, takeaway coffee’s, buying clothes or even driving the car to work- public transport can save you heaps on petrol costs.

Accessing money

Think about how you are going to access money while overseas. If you carry lots of cash around, you could risk losing it. You could get a travel prepaid card or you could talk to your bank about how you can access your money overseas without paying high fees.

Grow your savings

Once you’ve cut back your spending, you should make the most of your savings. Think about putting your money where it will earn interest, such as a term deposit or a savings account.

Our Partners