Beginning to save for next year’s summer hols when this year’s are still fresh in the memory might sound like overkill. But actually it’s the perfect time to start stashing some cash, here’s why.
First loan payment
When that first loan payment of the year hits your bank account it can be all too easy to gloss over the fact that it’s gotta last you the whole term. And there’s always that one person who goes on a spending spree of epic proportions. But while they might be donning all the latest clobber, inevitably they’ll wind up the term living off a diet of packet noodles and dry cereal. Don’t let that be you. Instead, adopt a sensible approach and create yourself a financial plan for the year. Kick start your holiday savings by putting a chunk aside from your first loan payment.
Almost a whole year to save
When summer rolls around it’s already too late to start throwing your change into a jar hoping to scrape enough together to afford a decent getaway. Starting in September gives you the best part of an entire year to get your finances in place for an awesome escape.
Set yourself a figure that will cover your holiday for the next year then work backwards from the rough date that you’re planning to go away. Break that number down into a weekly or monthly figure that you need to put aside and your holiday budget will soon build up.
Summer is over
It’s true that September signals the end of summer. But rather than get all sad that the nights are starting to draw in and the temperatures are beginning to drop, use the last few months as inspiration instead.
Had an awesome summer? Make sure next year’s can be even better by ensuring you’ve got enough cash set aside for an amazing vacay. Not managed to get away this summer? Use it as motivation to make sure you’re on track for next year.
Build good habits early
There’s no time like the present to get started on building a good habit. In fact, the sooner you get going, the more likely you are to stick to it in the long run. However, habits can be difficult to get off the ground and often it’s far too easy to make excuses and delay.
So don’t put it off until next term or even next week. Get into the routine of regularly setting money aside immediately and it will soon get easier and very quickly become second nature.
Plenty of time to get inspired
By starting to save for next year’s summer hols this September you can spend the intervening months seeking inspiration on where to go and what to do. This in turn will help you to save as you get excited about the possibilities next summer could hold.
Start a holiday board on Pinterest, find some new travel accounts to follow on Insta or watch some YouTube vlogs on your chosen destinations. Use the inspiration as a catalyst to keep you building up that travel pot.
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