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Knowing how much you need to save for your trip starts with choosing your destination and the type of holiday you’re after – luxury or budget. It’s also wise to think about when you’re travelling, as prices can soar during peak holiday periods.

Once you’ve worked out where you’re going and for how long, it’s time to start planning.

  • Upfront costs: These are the costs you’ll most likely need to pay before you go, such as flights, accommodation, travel insurance and visas, passport fees and vaccinations if you’re going overseas.
  • A daily budget: To work out how much you’ll need to take with you, do some research and estimate your costs for every day that you’ll be away, factoring in accommodation, meals, entertainment, tours and shopping.
  • Emergency funds:  Don’t forget to set aside extra funds in the event of an emergency or for costs unique to your destination, such as tips or airport tax charges.

Now you’ve got an idea of how much your trip will cost, it’s time to put a plan in place. Try our savings calculator to see how much you’ll need to save regularly in the lead up to your trip to make sure you reach your goal. For example, to save $2500 for a trip in nine months time, you’ll need to save roughly $280 per month. Here are some tips to help you reach your goal:

1) Create a budget to see how much you can realistically afford to save. If you’re unable to save as much as you need in time, look at how you can cut day-to-day costs with our everyday savings tips and advice or reassess your travel plans.

2) Open a savings account so you can regularly deposit your savings (and any extra when you can). If you already have money saved, you might want to think about a term deposit – you’ll get a fixed rate of return for the nominated term, so you know exactly what your investment's worth.

3) To keep your goal top of mind, try setting a photo of your destination as your phone or computer screensaver, or stick a photo on your fridge.

  • Book early to try to avoid high costs during peak holiday periods, and use flight comparison sites to get the best possible deal. You might also get discounts on tours if you pre-book. 
  • If booking flights you may notice the price has gone up since your last visit to the website. A lot of airlines do this to try and get you to buy before the price goes up again. Try deleting your internet cookies and see if the prices fall.
  • If you’re going overseas, check if your credit card has complimentary international travel insurance. This could shave a good chunk off your upfront travel costs, if you’re eligible.
  • Keep a close eye on exchange rates in the lead up to your trip if you want to buy foreign cash or put money on a Travel Money Card.  Locking in a good rate when the dollar is strong is a great way to save.
  • Get more out of your money when you’re away, with our tips on how to access and manage your money overseas

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Assess your situation
Seemingly small spending habits can have long-term effects on your financial health. See where your money goes, by creating a budget.

Why do you need a savings account? 
Watch your money grow and reach your savings goals sooner. Learn more about how savings accounts help you save.

Something to aim for
Whatever it is you’re saving for, creating a savings goal and having a plan to get there is a great way to keep you motivated and get there sooner. 

Ways to save with us

GoalSaver

An account that can help you reach your savings goal sooner by rewarding regular savers with a variable bonus rate and no monthly account fees.

Learn more

or

Already a customer banking online with us?

Save time by using your NetBank details.

Open in NetBank

New customer or don't bank online with us?

Open now

or

NetBank Saver

An online savings account that links to your CommBank transaction account and provides instant access to your money whenever you need it.

Learn more

or

Already a customer banking online with us?

Save time by using your NetBank details.

Open in NetBank

New customer or don't bank online with us?

Open now

or

YouthSaver

An account for under 18s that rewards regular savers with bonus interest. To qualify, make just one deposit and no withdrawals each month. 

Learn more

or

Already a customer banking online with us?

Save time by using your NetBank details.

Open in NetBank

New customer or don't bank online with us?

Open now

or

Term Deposits

If you’ve already saved over $5,000, a term deposit will give you a fixed rate of return for the nominated term, so you know exactly what your investment's worth.

Learn more

or

Already a customer banking online with us?

Save time by using your NetBank details.

Open in NetBank

New customer or don't bank online with us?

Open now

or

Savings basics, calculators and advice

Academy of saving

Become a better saver

Academy of Saving provides help and advice to get the basics of budgeting and saving right.

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Savings calculator

Savings calculator

Find out how long it would take and how much you'll need to save every month to reach your savings goal.

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Speak to a Specialist

Speak to a Specialist

Our Savings Specialists can provide valuable face-to-face support to help you achieve your goals.

Learn more

The advice on this website has been prepared without considering your objectives, financial situation or needs. Before acting on the advice, please consider its appropriateness to your circumstances. Please view our Financial Services Guide. Terms and conditions for the transaction, savings, Term Deposit and investment accounts mentioned are available online or from any branch of the Commonwealth Bank.

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