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How to save faster, and take off sooner

Fast-track your way to that final boarding call with these savings tips to help build up your pot of travel money quicker.

3 minute read

Dreaming about travelling overseas is fun. But actually doing it is even better.

It might not be the most thrilling part of your trip, but sorting out the financial side of things will give you the peace of mind you need to fully enjoy your hard-earned break – without having to watch every penny, or miss out on any amazing experiences.

Here are some key saving tips to help you build up your pot of travel money quicker - so you can fast-track your way to that final boarding call, and avoid ending your holiday with a scary-looking bank balance.

Give yourself some time

Saving money for a holiday takes time, so make sure you’ve given yourself long enough between now and take-off. Once you’ve scoped out the cost of flights, insurance, accommodation, and general expenses, you should have a pretty good idea of how long you’ll need. Holidays are full of additional expenses that can really add up – like visas, vaccinations, or specialist insurance – so be sure to take those into account when thinking about how long you need to save.

Plan, plan, plan

Take a minute to sit down and work out your income, your outgoing spending, and how much you should be able to save every payday between now and take-off. Life will go on back home, even while you’re away, so don’t forget to include any of your usual incomings and outgoings, like rent, your mortgage, or a payday that might come through while you’re overseas. 

Set a goal

Once you’ve laid out your plan, use what you’ve learned to put together a realistic savings goal that you know you can stick to. If your goal’s feeling a bit daunting, there are a few features of online banking that you can use to help you along the way. 

At BNZ the everyday account and online banking experience has been specially designed to make goal-based saving easier - using visual cues to help you stay on track. It lets you:

• Create a bespoke account, just for holiday savings. You can have up to 25 accounts open at a time. That means you can break up your big savings goal into a series of smaller ones, to help make it feel more achievable.
• Customise your savings account with a picture of your goal – like a bird’s eye view of Tokyo, or the pyramids at Giza – for that extra reminder of how amazing it’ll feel once you’ve reached it.
• Add to the personalisation by giving your account a name that’s a little more inspirational than “Savings”. “Santorini Sunsets” might be just what you need to keep those motivation levels high.

Choose your savings plan wisely

Not all bank accounts are created equal; some are specifically designed to help you reach your savings goals, like Rapid Save. If you’re looking to put away a bigger amount over a longer period of time, a higher-interest term deposit could help grow your money faster.

Put some time into picking a savings account that’s right for you, and you’ll be starting your savings journey with your best foot forward.

Make a little sacrifice

Whether it’s your morning coffee, gym membership, or your weekly takeaways - try giving up just one thing, and putting the money towards your holiday savings, instead. You could end up rewarding your months-long break from coffee with a well-earned long black at a café on the Rue de Seine.

Keep track of how you’re doing

Nothing beats the feeling of seeing your savings creep up bit by bit, so be sure to keep yourself motivated by checking in on your progress. If you add a specific savings goal to your YouMoney, or Rapid Save accounts, a progress bar will appear in your internet banking or mobile app. That extra little burst of motivation whenever you see the progress bar inch closer to your goal will go a long, long way.

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