If you are anything like me, 2020 has really unlocked the wanderlust in you, unleashed your inner explorer and set loose the dreamer in you.
But, to all of our dismay the pandemic has made catching a flight to a distant land almost impossible, which makes now the perfect time to start planning for your first post-lockdown holiday.
Here are some of our top tips and tricks to unlock the adventurer in you:
1.Set your budget
- This is the first tip, because it is the most important one. You must set a firm budget for your holiday. Your budget needs a hard upper limit that you vow not to exceed (with the exception of an emergency, obviously).
- Your holiday budget is an educated estimate based on the following factors:
The expenses
Budget for:
-round-trip travel;
-accommodation;
-local transportation;
-daily meals;
-sightseeing and attractions;
-activities you plan to do;
-shopping and gifts; and
-incidental costs.
Some serious research will really help you understand the amount of money you'll need for travelling comfortably.
Note: This is not going to be an exact number so rather be prepared to spend around 10% to 15% more than what you've planned.
2.Throw a dart at the map
The planning of a holiday is just as exciting as the holiday itself. Be bold – spin a globe blindfolded like in the movies, throw a dart at a map or flick to a random page in your grade 8 atlas and be ready to explore new places. Feed your thirst for adventure.
3.Plan your travel dates, possible flight costs, accommodation costs and local transportation
Put your Sherlock cap on and do your research. An estimate on how much you will be spending on all of these items will help you to set a more accurate budget. This will help you understand what you will be getting yourself into, whether you can actually afford this trip and what sacrifices you will need to make along the way to reach your savings goal.
4.Make a list of your potential splurge items
A holiday is a special time for anyone and sometimes you will come across your dream purse, bag or jacket. It is okay to buy these items but do not bust your budget if you save for these items ahead of time. Accommodating these little splurges also gives you some breathing room that you would otherwise not have had.
5.Set up a Nedbank MyPocket to help you on your savings journey
- Let me introduce you to the Nedbank MyPocket, the offering that will make saving for your dream vacation. MyPocket is a hassle-free money management facility that you can link to any Nedbank current account. No matter your age, income or budget – you can start saving for your dream holiday, daily expenses, emergencies or goals from as little as R1.
- Nedbank MyPocket also enables you to take control of your holiday savings, set savings goals and save at your own pace while earning more interest. You will even get access to your money quickly when you need it.
- Why you will love the Nedbank MyPocket:
‒Get immediate access to your money – no notice period required.
‒Enjoy zero monthly maintenance fees and no minimum account balance requirements.
‒Open up to 10 MyPockets per transactional account and earn interest on each one.
‒Make free interaccount transfers using our digital banking channels.
‒Make electronic payments.
‒No minimum account balance needed.
‒Use the Goal Savings calculator to help you reach your savings goals.
‒Save towards short-term goals, eg school fees, vet bills, car expenses or travel costs.
‒Split your money to cover different needs, such as essential expenses, financial priorities and lifestyle expenses.
‒Earn interest on each MyPocket at a competitive rate.
‒Enjoy easy setup on Nedbank’s digital channels, including Online Banking, Cellphone Banking and the Money app.
6.Decide how much money you will transfer into your Nedbank MyPocket each month
- In a perfect world you would have more than enough money to put into your regular MyPocket and enough to put into your holiday MyPocket. But, unfortunately, we all know that this isn’t the case.
- This is why it is important to analyse your monthly expenses and see just how much money you can put away each month for your holiday without sacrificing your electricity bill.
- Remember, this process will give you a lot of insight into your spending habits, it might be the perfect time to see how you can trim your spending, and also see where you are spending unnecessarily. #LetsChangeMoneyHabits
