A Savings Goal

a savings goal

I’ve always got a number of savings goals constantly on the go. Alongside the big ones, there are always smaller ones running alongside. After a rough few months, we’re starting to thing about a new savings goal – a holiday somewhere hot and sunny!

Big Goals

Our biggest savings goal is to save enough money to buy our own home. We should be in a position to do this in about 4 years time if we keep going the way we have been doing. We should, by then, have enough money paid off the mortgage of the house we rent out cleared and enough savings to do this comfortably. The house we buy needs to be a forever home so we’re not rushing to buy now and then have to move again as the kids get older. As much as I hate renting, this is the way it needs to be.

Alongside this big saving challenge, I’m always looking to increase our Emergency Fund, this started out as a goal of £1,000 but we’ve now exceeded that comfortably enough for me to relax a little and consider enjoying life a bit more.

A Holiday

Our children are growing up fast. I want them to enjoy their childhood and experience as much as they possibly can. With this in mind, we’ve been talking about taking them abroad. This wasn’t something I would have considered over the last 12 months for various reasons, however now seems the right time to start saving money towards doing this.

Our eldest son will be 11 in October and will be taking his SATS in May next year. The pressure of these tests is unbelievable. I think the May half-term would be the perfect time for us to all get away from it all and enjoy ourselves somewhere sunny!

So, I’ve allowed myself to have a browse online at holiday destinations. If we go in May then we need somewhere that is pretty much guaranteed to be hot and sunny. We love to just sit by the pool when we go abroad during the day and then enjoy a drink or too in the evening.

We’ve always gone all-inclusive in the past, on the credit card of course! However, this holiday will be paid for in cold, hard, cash. I think all-inclusive is a little out of our reach! So, looking at self-catering, we will need around £2,000 just for the hotel and flights, plus an extra ??? in spending money. With holidays generally needing to be paid up two months beforehand, this gives us around 9 months to get the money together. That should be doable?!

Any advice on websites to use or destinations to look at would be super appreciated!

How will we achieve our holiday?

The only way to achieve any financial goal is to plan ahead. As always, we will be budgeting. If you haven’t already, you can read a little more about the importance of a budget here – http://mymoneycottage.com/you-need-a-budget/We’ve had a few extravagances recently and these now need to be reined in so that we can save money instead of wasting it frivolously! 

Employment – I work part-time from home and I’ve taken on some extra work on a permanent basis. This now means I’m working more hours but it still works well with the children as I’m home with them. The extra money is massively helping us! This should make saving more money much easier.

Online income – As always I’m constantly doing extra “jobs” online to boost our income. There are so many ways I do this that I’m always taking on new ones and adapting what I do. The main constant and biggest earner for me is still Matched BettingWhen I put my mind to it (and when I have the time), I can earn around £1,000 from this alone. Alongside this there are lots of other ways I make money online. 

I really feel that a holiday is something we all need. We’ve had a pretty rough 12 months and if we can afford it then I think now’s the time we need something to look forward to!

2 thoughts on “A Savings Goal

Leave a Reply

Your email address will not be published. Required fields are marked *