We all have those dream destinations pinned to our vision boards. Whether it’s watching the northern lights in Iceland, hiking Machu Picchu, or taking a local family break. Planning the ‘where’ and the ‘when’ of your holiday is the fun part, but figuring out how you’re going to turn your dreams into reality takes planning. We’ve put together some practical tips on how you can save toward that bucket list trip here.
Choose a destination
The first step to making your goal a reality is to choose a destination. The internet is a minefield of information and will help you learn about the destination you have in mind, the things you want to do, the places you would like to stay, and how to get around.
If you’re battling to pick a destination, try to first determine your budget limit by choosing how long you want to be away and the limit of what you want to spend. This will help you to narrow down the list of destinations to those within your budget.
Once you know where you want to go, it’s important to decide when and for how long you want to travel.
Calculate your costs
After establishing the destination for the trip, draw up a rough plan of your itinerary, even if you do not know all the details. This will turn your idea into a tangible plan with a price tag. The following costs should be considered:
- Transportation (flights, trains, local transit)
- Accommodation
- Food and drinks
- Activities and excursions
- Travel Insurance
- Visa costs
- Shopping and souvenirs
It is important to know the current prices, but if your trip is to take place in a number of years, inflation is also important. Useful information can be obtained from online travel forums, destination-specific blogs and budgeting apps like TripAdvisor or Budget Your Trip, which can give an idea of the costs.
Develop a savings plan
You now know the amount of money you need to raise. Divide this by the number of months you have left before you want to travel to establish your monthly savings goal. It’s a good idea to open a separate high-yield savings account for your trip. This way, you avoid using it for other purposes. You could also set up a direct deposit to your travel fund so that you don’t miss a month’s savings.
To help boost your savings efforts, take a look at your current spending habits and see where you can cut down:
- Cancel unnecessary subscriptions – Instead of three streaming services a month, pick one and alternate. Just this one simple change can save you about R2000 a year.
- Skip the daily cappuccino – If you’re paying R35 every day on cappuccinos, that’s over R12 000 a year! Cutting down to one a week could bring you a lot closer to sipping cocktails on the beach.
- Stop eating out too often – Saving R1000 on a dinner out can pay for a hop-on-hop-off sightseeing bus tour in London. You get the idea!
Cut your cloth
There are ways to help your budget go further. Here are some other ways to reduce trip costs:
- Travel off-season: While summer is the obvious choice, it’s usually high season, which means you will be paying a premium. If you are able to plan a trip during the off-season (usually spring or autumn when the weather is still pleasant), your trip won’t be as hard on the budget.
- Book in advance: Airfares are lower if you book in advance. For domestic flights, it’s best to book about 3 weeks to 2 months before departure, while for international trips, try to book plans 2-8 months in advance. Tour operators offer early booking discounts, which offer 10-20% savings.
- Try alternate routes: Consider flying to smaller airports vs. hub airports. For example, it may be cheaper to fly to Orly airport in Paris instead of Charles de Gaulle and take a train to your final destination. It is also often cheaper to fly via a hub than to book a direct flight.
Your dream trip funding journey will unfold as a long-term process instead of a quick sprint. Clear goals combined with consistent saving habits and creative approaches to your itinerary will turn your bucket list destination into your next great adventure. Talk to a Harvey World Travel expert to take your next step.