I've started putting this page together on Tips on Saving for a Trip.

It's very much inspired/borrowing from this topic.

Useful? Yes? No? Maybe?

As always I'm very, very open to feedback, additions, opinions, etc

Hey Matty - Just going through all the rest of the stuff on this site, taking forever! Anyway, a few ideas:

For Flights:
Get a couple of quotes and then play the travel agents off each-other! In Australia, www.bestflights.com.au are good for giving an emailed quote. Take that to Flight Centre and they guarantee to beat any quote by 10% so, instant saving!

For Saving:
Consider opening a high-interest bank account - why not get something back for free, if you can? Again, in Australia, the National Australia Bank and Commonwealth have accounts offering 6.3% and 6.5% per annum. No minimum balance, no fees and the account is online only so you can't withdraw!

Get a piggy bank! I know it sounds stupid but if you have a piggy bank that you empty your coins into everynight you'll be suprised how much you can save in a short while!

Think that's it for this one...I'll keep reading!

the coin thing is true. I ended up getting $14 alone in very small change. Think pennies.

Nicky

I am not sure if you are allowed to endorse other websites officially (non-message board) but on the flights people should definitely check out sites like kayak.com (which checks many travel sites on one search) and then when they find the cheapest rate, check the airlines page because sometimes it is cheaper. My personal note, I watched this site for about 2 months before I bought tickets from Dayton, OH to London and from Paris to Dayton, OH and I saw prices fluctuate (leave Monday return Thursday in May) from $769 to $950+. I ended up purchasing mine 6 months in advance for $820 and afterwards it shot up to the mid-$900s for over 2 months then it dropped to $769 for the same ticket.

Something else I did, I applied for a new credit card from a leading gas company through CHASE after my tour came up for dates. The benefit on this is the card gives 2% for travel, 5% on gas, and 1% on practically everything else. The first two months yielded double points so I received 4% for travel, and 2% on everything else. Needless to say I booked EVERYTHING from my tour in this 2 month period. The only downside was that my tour was called "travel agent" which got the double 1% rather than the double 2%. Oh well, I still earned $75 in free gas cards, which is $75 more I have for Europe!

I also opened a high yield savings account at 5% interest a year. In 6 months time I have gained over $60 in interest, which is going to Europe. I also pay off my credit cards completely every month so that I don't have to pay interest (or free money) to the bank, and that is in turn going to my Europe fund.

Just by a few of these simple things alone I saved over $135 plus the savings of getting a cheaper ticket (could have paid over $130 more) and not paying interest to the bank as well! I should note, I had all the money to purchase everything, I just chose to use my credit card instead to stick it to the man and get free money. You should not try the credit card trick unless you can pay it off the same month, otherwise you're going to pay more in interest fees than what you are earning!

I totally agree about the www.kayak.com website its a great tool. I used it for Italy last Sept got great prices.

The coin "jar" concept is a good idea is good too.

Too bad contiki doesn't have a thing where they will do your tax return for you and put it twards your trip. LOL like the car dealers do this time of year.

3 bank accounts people (if you're full time employed. Have payroll split your money into different accounts. The money just add's up when it keeps rolling into accounts that you can not see!

Here's how it worked for me!

1. Everyday expenses!! Just you basic weekly spending (lunches, coffee, going out). Full eftfos facilities.

2. Bills, bills, bills account!! (mortgage, rent, school fees, water bills etc) I've kept this to online and in bank transactions only!

3. Holiday slush fund. Go for an account with interest!! Limited access. (no eftpos etc!)

The trick to making this work is being HONEST about your spendings. Only realistic budgets work.

Also, for people from the UK, firstdirect offers quite good savings accounts and AFAIK they don't charge fee's as long as you have no current account.

Karl.

I guess it depends on a few things...
I get paid monthly and have my ING account (8% return) automatically take out nearly 90% of my pay. I have cut back on a lot of expenses! not buying coffee, making my lunch...and trust me the piggy bank works a treat!!! i saved over $400 putting in loose change and just really emptying mypurse at the end of the day...notes and all!!! you will be surprised!

Anyone wanting to save I suggest ING. It is an online bank with higher interest rates that regular banks. You can set it up to automatically withdraw from your regular savings account and you won't even realize the money is gone.
For those nervous about banking online, this is a fully FDIC insured bank and does mortgages and everything, they are completely safe.
www.ingdirect.com