Saving for a holiday 1

One of the most common money management tips my clients ask for help with is tips on saving for a holiday.

This isn't a quick question to answer so I'll answer it as part of a series.

My husband and I are at that time of the year when a holiday is calling but we don't yet know the details, we just know we need to plan a break. So I've decided to work through my process with you to help you all save and plan for that holiday you want to take.

Step 1 When and for how long

Yep you read that correctly, step 1 in how to save money for your holiday is to work out when you plan on taking this holiday and for how long do you want to be gone.

Before you can start putting the pieces together of where and how much money you need, you will need to know when you are planning on taking this trip.

For most of us our jobs, studies or other commitments will have an influence over the when and how long part of our holidays.

Get the calendar out and start planning when. Talk to your boss about when you can take time off and your leave entitlements.

If you plan on travelling with someone else, get them working out when they want to go as well and how long they wish to be away.

Although we both are really starting to think a break would do us good sooner rather than later, I much prefer the warmer weather. This means we are tossing up whether to have a short break in the next month or two and a longer break once Spring or Summer arrives, or whether to plan something a little bigger and longer to really get a break.

A short break might end up being a long weekend away, leaving us with a couple of weeks up our sleeves to really relax when the weather warms up.

Knowing when you want to take your holiday will help with the decision of where to go later on.

Take some time and work out when you want to go on your holiday. In the meantime, start a list of the places you might want to go and things you want to see or do on your upcoming holiday.

Planning a holiday really extends the excitement of your trip so feel free to sign up and add your holiday ideas in the comments.

Stay posted for Step 2 Choosing Where to go

• Login or register to post comments