What are the best old style ways to save for your holidays?

cherrycake

Hi, we rarely get a chance to get away during most of the year as we run our own business, but somewhere in the Christmas and New Year period (when the business is closed) we like to go away for a week's skiing. This is not the cheapest way to go on holiday and I would like to come up with a way to put money aside on a regular basis so that come the winter, I have already put aside a large chunk of the holiday cost. I am interested to know how others put money aside for their holidays and was wondering about having a sealed pot to pay into once a month or even another pot to put in extra income from eg cashback or e-bay sales? Thank you for your ideas...

shebangs

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sunflower76

We don't really do holidays but a good way of saving cash in our house is to empty our purses / wallets at the end of each day and drop everything into a savings jar. Whenever there's enough I put this into bags and then straight to the bank.

PipneyJane

We do a dual approach. We have a specific account set up for holidays and a standing order set up to transfer money to it every pay day. However, we also have a "Running Away Fund", which is a money box where we save all the £2 coins that come our way. When that is full (it holds about £600), we deposit the Running Away Fund into the holiday account. We don't rely on the Running Away Fund to pay for our holidays, but it's a nice adjunct and may mean we have additional spending money for a holiday or that we can add a special day trip, or it can pay for a week/weekend away (depending on where we go).

cherrycake

PipneyJane wrote: »

We do a dual approach. We have a specific account set up for holidays and a standing order set up to transfer money to it every pay day. However, we also have a "Running Away Fund", which is a money box where we save all the £2 coins that come our way. When that is full (it holds about £600), we deposit the Running Away Fund into the holiday account. We don't rely on the Running Away Fund to pay for our holidays, but it's a nice adjunct and may mean we have additional spending money for a holiday or that we can add a special day trip, or it can pay for a week/weekend away (depending on where we go).

Thanks PipneyJane, I think your idea of putting the £2 coins aside is a good one as an additional way to save. Also having a standing order set up to a specific account makes sense as it means that you don't have to transfer the money each month. I have found a saving account through TCB so think I will set up a new account for this purpose with the benefit of a bit of cash back!

Twiglet0309

Ive got piggy banks for each different coin. I empty my purse at the end of each day. I bag up the money and stick it in my cash ISA. Also pay in any notes left in my purse once a month.

uncommonadvice

The best way to do any savings is to "go automatic". Read the reviews of "The Automatic Millionaire" by David Bach on Amazon and you'll get the jist.

lancslass01282

I have different accounts where I stick money, 1 for holiday, 1 for car insurance (pay in weekly then transfer over once a month, I also pay a bit extra in than I need to to go towards tax) and one for house fund (decorating/furniture, not buying) I transfer weekly into these accounts from my current account. Any extra I have left over before being paid again goes in a sealed tin towards the holiday too, for clothes etc