How Saving On Your Holiday Can Boost Your Retirement

Posted by on October 11, 2013

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The newspapers and media outlets are forever coming up with new stories about how we can expect to work longer for our pensions, therefore, when you do finally reach retirement age, it’s important that you really make the most of it.

Hands holding piggy bank

Hands holding piggy bank

As one of the main goals of many retirees is to travel more, this is probably one area where you’ll find that you are spending a good chunk of your retirement fund. However, luckily, it’s also an area where you can easily save money without compromising on the quality of your break.

How can you save on your holidays?

There are lots of ways to save money on your holidays, from buying your food at the supermarket to snapping up last minute deals. However, if you’re retired and still want to enjoy the finer things in life, the easiest way to save on the overall cost of your break is to choose a location with a reasonable cost of living.

For example, a trip to Paris – where a pint of beer can set you back over 6 euros and paying 5 euros for a small coffee is not unheard of – can cost you an arm and a leg, especially when you factor in museum entrance tickets and sightseeing tickets.

However, a trip to Berlin, Lisbon or Krakow will be much more reasonable for everything from accommodation to cappuccinos.

So, if you want to save money before you’ve even walked out of your front door, forget about those trips to Mauritius or St. Tropez and look out for cheap holidays to Tenerife, Greece or Turkey instead.

Another great way to save money on your retirement adventures is to choose self-catering accommodation or somewhere that has self-catering facilities.

This can save you a fortune on restaurant bills and provides a great opportunity to see the local supermarkets and sample some of the local produce.

How can it boost your retirement?

Saving money on your holidays can boost your retirement in a couple of ways.

Firstly, all of the money that you save can go straight back into your pension pot, giving you more funds for the future and taking the strain off your finances.

Secondly, going on holiday is good for the mind, as it allows you to discover new places, meet new people and get out of your normal routine. And as your retirement should give you plenty of time for travelling, why not seize the opportunity and see as much of the world as you can?

Saving money on holidays doesn’t have to mean sacrificing the quality of your break – just be a little bit clever with your funds and your pension will stay nice and healthy for years to come.

Photo:thisismoney

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