Im currently saving at the moment, hopefully for a trip to Thailand, Malaysia and Oz, but I cant seem to save the money, every time I hit a certain point I go out for the weekend and take a huge chunk out of it! Somebody must have had a similar experience, Im thinking about cutting my trip down to size...this a bad idea?
Its hard but l think if you are determined to go you may have to cut out the weekends out and that way not touching your cash! Can you not have friends around to your home or become really well acquainted with your local dvd rental shop!! Its worth it in the long run - you know what its like you hate missing a night out but after the night out did you really miss anything if you had not been there!! Also can you not give someone your cash card or savings book so that you cant get at your money without going through them - your mum or dad perhaps!! Good luck with the saving - dont cut short your trip a few months of hard saving will make it all worth while - especially when you book your tickets to go and it all becomes real!
I found the same thing when I was starting to save for my RTW trip. The best way for me to save was to work out down to the pound what I could save out of my earnings each month, factoring in what I needed to spend (rent, council tax, food etc). Then work out your budget for going away, including tickets, insurance, gear, spending money and how many months it would take you to save this amount. Then book your tickets according to this, and you're stuck with saving the amount you decided. Also, if you still need the odd blow-out weekend, just be extra-good for a couple of weeks beforehand and if you're under your budget for living costs then you can go out and splurge guilt-free, save in the knowledge that you're still on course with your savings.
Also, I've found that having a second job helps a lot. I do a few shifts each week in a pub and as it's paid cash in hand then that can be viewed as your spending money for the week, leaving your salary to your savings. There are other advantages too, such as tips and free drinks, and also the fact that it keeps you busy for a few hours when otherwise you'd be out spending money.
I opened up a savings account that's only accessible from my bank. I can put money into it, but I can't pay for anything using that account unless I'm at my branch (and even then I have to transfer it into my chequing account first). That's helped me save a good chunk. I also put every bit of extra money (insurance returns, birthday gifts, freelance work, etc.) into that account, too. Little bits add up.
Why not give yourself permission to spend x amount every week? That way, you won't feel like you're depriving yourself, but you won't go overboard either. In the end, it comes down to willpower - but keep your eye on the prize!
Saving can be tough, but really, you need to make compromises. Before you spend any amount of money, ask yourself if it's worth it. Would you enjoy yourself more if you spent the money there, or would be it better if you put that money away for a trip.
I find that this can be especially true for little things. All those things that only cost a dollar or two, can really add up. And they are usually not worth it. I do things like pack a lunch for work instead of buying it there. I won't go out and buy a coke all the time, same with coffee. Or little snacks at a convenience store. I'm not saying to never treat yourself, it's simply that these are things you don't take into account because it's so cheap, but they all add up and I'd rather save for my next trip.
you get those accounts at the bank where you have to give a months notice before you can draw on it
But really the very fact that you're saving at all at 18!! I couldn't have done that.
what about a automatic savings account? that each month there goes a amount of money to your saving account?
or everytime you get some money in, book a part to your savingsaccount
We opened up a high interest online savings account. It has a condition where you only earn interest for that one month if you don't withdraw from it, so basically in the last 6 months we've just kept paying in to earn more interest, and not even considered taking any out. It's a good incentive.
It is tough to give up on buying the things you wouldn't usually think twice about - we used to buy clothes all the time, but I don't think we have treated ourselves to anything more than a cheap t-shirt in about 8 months. It's a little depressing, but the way we justify it is that for every 20 quid we save, that's another day paid for in Brazil or Thailand. We've also sold tons of weird and wonderful stuff we've had lying about on Ebay to make ourselves some extra cash (it's suprising how it all adds up).
If we consider going to the cinema or gettting a takeaway, but end up not doing either (usually because we've talked ourselve out of spending the money), we take the cash we would have spent and put it into the savings pot.
I've been lucky in that I do freelance design work (websites etc) so I've made some cash that way, but if that's not suitable to you then think about a second job. If you got work in a pub, not only are you earning money, but you're not given the opportunity to go out as much because you're probably going to have to work in the evenings. I worked in a pub for four years when I was yourr age and you'd be surprised how sociable it is. You'll meet loads of new people and although it can be hard work, it's not as bad as other jobs out there.
If you really want to do it you will - no-one can really make you save, it's just down to having some will-power and treating yourself as and when you think it's REALLY needed... it's not easy, but the rewards are going to be amazing if you stick with it.
We've also sold tons of weird and wonderful stuff we've had lying about on Ebay to make ourselves some extra cash (it's suprising how it all adds up).
I gotta agree, lve been selling on ebay and not touching the cash in my Paypal account, this is going to our Australian/New Zealand pot for those extras that we would not normally do whether it is a hot air balloon trip or helicopter trip! Thats how l justify it to myself l keep a travel book or brouchure lying around and that reinforces my resolve when l feel like spending!