Giving every £ a job

Blackcats

Thank you for sharing your approach @Spendywendywoo.  I seem to be ok with more static savings pots such as my repair/replace pot.  I have a minimum balance that I think it needs and when I spend from it I save to top it up to that level again.  However, because we are thoroughly embracing our retirement freedom we have lots of mini breaks and therefore I can't seem to get a grip on what we are spending and planning to spend.  So because it's a pot of money I might be paying a deposit for a 2026 trip whilst spending on a trip here and now.  

For example, we are away now and I paid for the ferry in March and the accommodation in June and we are now using spending money.  Meanwhile I need to pay a deposit for a trip next year.  Maybe each holiday needs a saving pot that reflects its costs and then as and when they become due I take them from that specific pot.  It's worth a try I think.  Wanders off to test the proof of concept 😎

joedenise

We like lots of holidays too @Blackcats.  I use YNAB and I have a pot for every holiday - I tend to use Regular savers for the bulk of the holiday but also save in a general Holiday pot which will cover short breaks in our motorhome.

Don't think I would cope without separate pots for each holiday!

Makingabobor2

I think a pot for every holiday is the best way to go. 

savingholmes

I think 🤔 individual pots may help with tracking 

foxgloves

I have 1 holiday savings pot, but also write out a very detailed holiday payment schedule covering what needs to be paid & when....i.e depisits, balance payment dates, cattery fees, etc. I do have to re-do it when we book something else, but you know how I like writing, notebooks, pens & pencils, etc, so it isn't a problem.....although we don't go away as frequently as you, so it's probably a lot easier. I started it really to ensure that we never need to leave any part of our holiday payments sitting on a credit card, where the temptation post-holiday might be to leave it. Even now, I've still spent more years as a naughty spender than I have as a reformed shiny halo person!
F

EssexHebridean

It's definitely easier budgeting for holidays when circumstances demand that there are less of them! I'd far sooner have more trips and less ease of budgeting, mind you! 

Blackcats

Thank you all for your holiday savings hints and tips.  @EssexHebridean - you are right it is a very nice to have "problem" that I'm pondering.

I think I'm going to clear the balance on our spends from this trip when the credit card statement comes in and that will be paid in full.  Then we have a trip booked next June which will have its own savings pot and I'll calculate due dates and amounts for the various components of it and then the required monthly savings amount.  I will also have a holiday pot for shorter, cheaper mini breaks that I will treat as a rolling budget with a minimum £500 balance in it so we can be spontaneous whilst still having enough money to pay for our fun.  I'll workout a monthly amount to save into here too so that it can build up or drop down as appropriate. Any longer trips can have their own designated pot.  Oh and I will set up a regular saver starting in September which can run in the background as a bonus savings pot.
This all feels like a plan to me!
now I'm excited for pension paydays this week so I can jiggle money about and get cracking on my notebook with some nice coloured pens to record progress.

It's so nice to have a place to come and chat through ideas with like minded folk.

Makingabobor2

They all sound like excellent ideas. 

savingholmes

Great plan

Sun_Addict

I love it when an idea is being pondered and people chip in with their thoughts. I've picked up some brilliant tips on these diaries.