Dust off that holiday wardrobe

Ah… holidays! They’re what keep us going. That two or three weeks during the year we get to hop on a plane, leave our everyday lives behind and live like a local somewhere else, donning flip flops and shorts like we’ve never known any other life. Bliss.

Holidays don’t just happen though. They require meticulous planning and most importantly cash. But how much?

Decide where you’re going

Knowing where you’re headed, when you’re going and for how long will help you focus on how much you’re going to need. Once that’s decided, you can plan for all the associated costs.

There’s the upfront stuff like flights or car hire, accommodation, travel insurance, visas and vaccines if you’re heading further field.

But it’s also worth doing a little research around costs for local transport, food & drinks, tips, tours and night life in your holiday destination and then allocate yourself a daily spend based on your plan.
Make sure you plan for the unexpected too. It’s always a good idea to have a small emergency fund close to hand.

Set yourself a savings goal

Now you know the cost, it’s time to get serious about your savings strategy. You’ll need to put by a certain amount every month. If for example your total holiday cost works out at roughly €1,300 and you’ve 9 months to save, you’ll need to put by approx. €145 a month. Use our handy calculator to play around with the numbers specific to your trip.

Stick to your savings guns

Of course knowing what you need to save monthly and sticking to the plan are two very different things. Here’s a few tips to keep you on the straight and narrow.

  • Be realistic: Keep your savings goal attainable. There’s no joy in overstretching yourself each month. But do look at ways you can save a few bob during the week. Bring a packed lunch to work or cut back on that third coffee of the day. You’d be surprised how little savings like those can all add up.
  • Open a Goal Saver Account: Save regularly and get access to your money at short notice, but not so often that you would be tempted to dip in all the time.
  • Check in: Download our B365Online app and check in regularly on your savings pile. It’s satisfying to watch it grow, knowing each month you’re one step closer to getting up, up and away.
  • Picture this: Use a holiday screen saver on your phone or tablet to keep it top of mind so that when those urges to dip in to your savings come knocking, you’re more likely to resist and stay on track.

Holiday hacks to save you money

  • Plan ahead: Book your holiday a whole year in advance to benefit from cheaper flights and have the pick of the best accommodation on offer.
  • Resist temptation: Don’t get carried away in the shops abroad. Bag yourself an awesome memory instead and spend what you’ve saved on shopping on lunch in a cool beach bar or cliff top restaurant.
  • Free stuff: Experience local cultural events at a fraction of the cost by finding out about free events before you go. The less mainstream are often the best gigs.
  • Competitive insurance: Save a few Euro and get yourself set up with annual travel insurance if you’ve a plan to have a few sneaky holidays a year. Get a quote right here.
Bank of Ireland is regulated by the Central Bank of Ireland. Terms and conditions apply.
Apply Online

Ways we can help