Tips on Saving Money for Your Dream Vacation to Bali

Oct 04, 2020
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The demands that we’re pressured to meet in our daily lives can lead to a buildup of stress and tension in our bodies that isn’t healthy. Stress is nearly unavoidable in our lives, but how we keep it under control is up to us. One of the best ways to unwind and de-stress is through a vacation. A getaway is a great opportunity to disconnect from the fast-paced grind and enjoy a few days of relaxation, and where’s a better place to escape than Bali, Indonesia? You may already be aware that Bali is a top-ranked vacation destination. With its white beaches and blue waters, Bali checks all the boxes of a modern-day Paradise. The only thing stopping you from booking your trip today is the cost, so let’s explore some ways to amass the funds needed.

Preparing a Budget

Before you can look for ways to save, you’ll need to know how much to put away. In order to do that, you’ll need to prepare a budget. You know where you want to go, so you need to figure out the costs associated with making your way to Bali’s sunny shores:

  • Airfare and ground transportation
  • Hotel and lodging
  • Food and beverages
  • Sightseeing and activities
  • Emergency cash

Once you’ve done your research and figured out what the costs will be, you have a better sense for the total amount needed for travel.  Divide this amount by the number of weeks between now and when you want to travel to come up with a weekly saving goal. Breaking down the total cost like this helps you work towards the overall goal which will seem all the more attainable. Of course, you might find that the price to travel is significantly less when you work with a travel agent.

Cutting Out the Extra Spending

One of the best ways to save your money is by cutting down on discretionary or unnecessary expenses. While you certainly have to pay for monthly rent or mortgage and other bills, you may have some regular expenses that you can do without as you work towards you overall goal. How much money do you spend on eating out or entertainment each month? You can afford to do without certain luxuries for a few months as you put away funds for travel. Save some cash by making coffee at home instead of dropping a few bucks on your daily coffee shop habit. Pack your own lunch instead of going out each day. You’ll be surprised and motivated by how quickly your travel fund adds up.

Lowering Your Expenses

Another way to build up your funds is to find ways to lower your necessary expenses. From using coupons for grocery shopping to reviewing your monthly bills, you’d be surprised at how much you can save. Do you pay a car note each month? With better auto loan rates, it may be worth refinancing for a lower monthly payment. Take a look at your insurance policies. You may be overpaying because it’s been a while since you’ve shopped for insurance providers. Even some of your utility bills are worth a closer look. Balanced billing options can significantly lower your bill now, allowing you to put the extra money towards your vacation savings.

Earning Extra Income

Consider working a part-time job to make some extra cash. A temporary job that you can work on nights and weekends can help you reach your goal even sooner. Take advantage of the gig economy by working as a ride-share driver, either transporting people around the city or delivering food and groceries to people at home. Are you into crafting as a hobby? You can make some extra dough by selling your products online.

With a little planning, self-discipline and creativity, you can save the money for an escape to Bali. Once you’ve figured out how much to save on a weekly basis, it’s important that you stay the course. Do what’s necessary to stay motivated, including cutting back on how much you hang out with friends, especially if hanging out typically involves spending drinks at a happy hour or Sunday brunch.