While for some people a dream vacation remains only a fantasy they never imagined would become a reality, others try hard to make it come true. Having enough money can provide a good vacation for you and your family. Booking a hotel, buying tickets, looking for cheap cars for rent, visits to local cafes, this list is by no means comprehensive. But what means “enough” in the context of travel to Mallorca island? And how can you increase the amount of accumulated money? Read about it below.
Make the budget Math
First you need to understand how much of your spending is justified, or worthless. For this, you can create a spreadsheet in Excel, upload an application for finance, or a simple notebook. Describe in detail the monthly expenses: rent, Internet and telephone, groceries, hobbies, shopping, etc. Then, based on the balance of income and expenses, calculate each option:
- How much money do you need to live in grand style?
- How much money will it take not to limit yourself too much and not live lavishly?
- What is the minimum amount you can live on without going hungry and without going into debt?
The optimal strategy is somewhere between the second and third. You need to find a balance between restrictions and comfortable life in order to save up for the vacation you want, but not break loose in the process. Home bookkeeping is an essential step to realistically plan a vacation. Of course, a lot depends on the amount of the planned trip. Let’s find out what size of the budget will allow you to really relax.
The pricing in Mallorca
According to budgetyourtrip.com, for your holiday in Palma de Mallorca, you should budget approximately €120 ($127) per day, which is the average estimated average price based on what other tourists spend there. You can expect to spend nearly €38 ($40) on food for one day and €23 ($24) on local transport.
In addition, a couple can stay in a hotel for an average cost of €140 ($149) in Palma de Mallorca. Therefore, the average cost of a trip for two people to Palma de Mallorca for a week is €1,428 ($1,515).
Put money aside regularly
This step goes after determining how much you’re currently able to save or how much you’re overspending each month and comparing your monthly income to your monthly expenses.
The main principle of accumulation is regularity. Follow the golden rule of savings, and save 10-15% of your income. If you tighten the belt more tightly, then the share of savings can be increased up to 30%. By the way, if you want to rent a car on arrival in the island, search for rental cars Mallorca using rental24h.com services. It features a reliable and quick procedure and a wide range of automobiles.
Set a shopping free day
Just do not take money with you on this day. The bare minimum is for the road and for lunch/snack. It’s a good idea to cook it yourself. If you think that you can only carry sandwiches for lunch, you are mistaken. There are many delicious and healthy dishes that you can cook at home and take to work.
No need to cheat: orders via the Internet are also considered. Record the price of anything you wish to buy in your smartphone’s notes app. Calculate your projected spending for the day in the evening and think whether you actually need to make one or another purchase. If you said “yes,” then do the proper thing the next day. No? This means that the money you didn’t waste on useless things can be safely added to the asset.
Open a savings account
And transfer there everything that you managed to save or earn extra money. And not just to avoid temptations. If you choose a successful banking offer, then interest on the balance will also be added to your savings.
Experts recommend opening an account with the most flexible terms of service. So that it can be replenished or withdrawn from it at any time. For example, if the sale of tickets to the city of your dreams starts. Secondly, you should pay attention to profitability: the higher it is, the more money the bank will add to your savings.
Save on utilities
- Set a smart meter instead of the usual one.
They provide accurate readings, so you pay for what you do use.
- Replace incandescent bulbs with LEDs.
- Wash at a lower power.
Heating water up to 86° requires four times more electricity than heating it up to 140°.
- Turn down the radiators when leaving for work.
Why heat empty rooms? Turn the valve on the radiator when you return and heat the apartment to a comfortable level.
- Install water saving aerators for all tapes in the house.
Water use can be decreased by 30% by replacing an aerator that releases 3.2 gallons per minute with one that releases 2.5 gallons per minute, all while maintaining performance.
Definitely, saving up for the desired vacation is not easy-peasy. Everything depends on your willpower and on your real opportunity. Be thrifty, choose the best deals regarding cars for rental.