It’s been a while since we’ve been on a family holiday – in fact we’ve never really taken the boys on a proper family holiday. There’s been a few weekends here and there, but nothing that really feels like a holiday should.
It’s something we’d love to do now that we’re out of that baby phase. We haven’t agreed on a destination just yet, but the Gold Coast is looking promising … although I know hubby would probably prefer a month in Broome!
Wherever we decide to go, it’s going to cost money, lots of it. Airfares, accomodation … have you seen how much food my kids eat?
With the cost of living sky rocketing, saving money can be difficult some weeks, so I’ve implemented some easy ways to save for our holiday – and these ideas are ones you can put on auto-pilot! Because let’s face it, life is busy and if it’s not set and forget, you’re probably not going to achieve your savings goal!
Here are 5 ways we are saving for our holiday – and you can too!
Acorns Micro Investing
I am in love with Acorns – we’ve only had it for a few months and I’ve already been able to save well over $1300. Acorns works by investing spare change automatically from everyday purchases into a diversified portfolio. You can also opt to make regular contributions weekly, fortnightly or monthly.
So if you buy a coffee for $4.50, Acorns will automatically invest $0.50 into your account. That $0.50 adds up really quickly, especially when it’s invested.
One of the best things about Acorns for me is that it’s not attached to my internet banking, so I can’t just transfer money out easily (like when I want that trolley full of Kmart goodness). It takes a few days to transfer which is a huge benefit when you’re trying to save money!
If you’d like to explore the benefits of micro investing with Acorns, you can use this link and we’ll both receive $5 in our investment accounts!
I joined Cashrewards and now cash rewards in my account when I shop online. Yes, you read right. Whenever I do my groceries online (which let’s face it as, as a Mum is so awesome) I get money back into my account! It’s so easy and takes just a few minutes to set up and start getting money back. In fact, Woolworth currently have an offer than can earn you up to $20!
The best thing, is that the rewards are from stores that you’re probably shopping from anyway. Stores like Woolworths, BWS, Jeanswest … even Telstra! You can watch a video to find out more here.
What else are we are doing to help us reach our holiday goal? Not spending our $5 notes. Yes, this can be a little tough because … $5 is a coffee, right? But imagine if you saved 2 $5 notes every week! That would be an extra $500 at the end of the year. That’s a good chunk of spending money right there!
Even if you’re not saving for a holiday, $500 could buy some pretty cool Christmas pressies! Or even pay for school stationery and shoes at back to school time next year.
To make sure that we can’t touch them, we’ve bought a sealed tin money box that can only be opened with a can opener. And yep, hubs has confiscated all the can openers, just in case I get desperate for coffee money.
Set Up Direct Debits
One of the easiest ways to save is simply to make it happen automatically. As Scott Pape from the Barefoot Investor suggests, set your money to autopilot and watch it grow.
Having money automatically deducted from your account each time you’re paid ensures that you don’t forget and that your money grows without you actually having to do anything.
It doesn’t matter how much you set your direct debit at, it will grow if you put it in an account that you can’t touch. $20 a week equates to $1040 a year. $50 a week equates to $2600 a year. It adds up fast, doesn’t it.
Setting Up a Side Hustle
Another way to save for a holiday is to increase your income. There are lots of ways you can create a side hustle that could earn you money while you’re working in another job or staying home with the kids. Think creatively, make a list of your skills and what you would be prepared to.
Some simple ideas that need little to no set up are:
- doing someone else’s ironging
- learning to trade stocks or crypto currency
- using your skills to become a Virtual Assistant (VA)
- growing plants or succulents to sell at markets
- dog walking or house/pet sitting
Just think outside the square – and keep the bigger picture in mind!
Good luck saving for your family holiday – I’ll keep you updated on our progress in our FB Group South West Mum Life.
Love Kate xx