How to start saving for your 2024 holiday now - Scotland on Sunday Travel

Why not start early, and reap the benefit of being organised?

Start saving now for your 2024 holidays. Pic: PA

If you’re thinking about going on holiday in 2024, start saving now, especially if you’re planning to go on more than one.

The holiday season may be months away, but in addition to booking the trip, there are other expenses such as toiletries and accommodation.

Planning and putting money aside will help ease your stress levels, make it easier to stay on budget and can help you avoid credit card debt.

Set up a dedicated savings pot and track flight price. Pic: Alamy/PA

Here’s how to start saving for your 2024 holiday.

Track flight prices

If you’re not ready to book, you can use Google Flights to track prices based on specific flights, routes, and dates.

“I use places like Google Flights to track the prices of flights I’m looking to go on,” says Kia Commodore, personal finance creator and founder of Pennies To Pounds. “Set up a price tracker and you’ll be notified of changes in price so you’re able to secure the best deal.”

Planning ahead can help make that holiday dream a reality. Pic: Alamy/PA

It is well known that last-minute bookings can come at a much higher cost. Why not start early, and reap the benefit of being organised?

“Starting to organise your trip well in advance will allow you to shop around to find the best deals, whether that’s flights, accommodation or even restaurant bookings,” added James Jones, head of consumer affairs at Experian. “You can also save by getting a package deal, which normally includes accommodation and travel.”

Set up a dedicated savings pot

According to Jones, planning in advance can help to ease the financial burden later down the line.

“With costs continuing to rise, it has become more difficult than ever to save. However, putting a small sum away little and often can seem less daunting and more achievable,” he says.

And setting up a dedicated holiday fund can be a great first step to your saving journey.

“This will not only help you keep your holiday savings separate from your everyday expenses, it will also deter you from dipping into it before you go off on your holiday,” says Jones.

Commodore added: “It can be hard to remain motivated when saving money towards a trip but having a dedicated savings pot can keep you on track. A lot of providers allow you to customise what these pots look like within their apps which can help visualise what you’re saving towards.”

Set aside part of your income automatically

Building discipline with saving requires you to find a system that works for you.

“Many people find using automation makes everything a lot easier. If you use an app like Plum, it will work out how much you should be able to afford to save using AI, then stashes the money in a pot for you each week where it could earn interest,” says Rajan Lakhani, personal finance expert at smart money app Plum.

“Automating the process means you don’t have to remember to set money aside: it’s done for you, effortlessly,”

Explore extra income streams

“Side hustles have risen through the ranks in the past few years, and have proven to be great ways to earn some extra money. It can be as easy as dog sitting, or even cleaning out your closet and selling unworn or unwanted clothes. That extra money can go directly in your holiday fund, giving your savings a nice boost,” says Jones.

Make use of loyalty points

Do you have a credit or loyalty card you regularly use? “You may have been accumulating points every time you’ve shopped. Quite often, these can be converted to be used as discounts when booking flights and accommodation, so it’s worth checking how much you may have,” says Commodore.