How long do you need to save for a holiday?

How long do you save for holidays? Are you book and pay now type of person, or is there a jar full of dollar coins somewhere in your cupboard just waiting for your next getaway?

Well a new survey finds Australians have varied ways and means of saving, or spending, for a holiday. Which one do you fit it into?

Nearly a third of Aussies (31 per cent) spend up to a year saving for a trip, according to a new survey by Money.com.au.

Another 29 per cent of travellers save for up to six months before jetting off, while 18 per cent spend longer than a year saving for a big trip. Just over one in ten Aussies (13 per cent) manage to save for a holiday in less than three months.

Money.com.au’s finance expert, Sean Callery, says the time spent saving for a trip is a testament to both the commitment and the rising cost of travel.

“Our research also shows that travel is the one expense Australians aren’t willing to forgo, no matter their financial goals or income level. This simply means many will have to gradually build savings over several months to fund a trip,” he says.

Holiday and debt

However, some Aussies are going into debt to pay for their holiday.

About (7 per cent) skip saving altogether and cover their holiday expenses fully on a credit card, while a smaller group (2 per cent) opt for a personal loan to fund their trips.

“Going into debt for a holiday brings additional costs and risks. The sooner you can pay off your trip, the less you’re likely to be paying in interest and fees. It’s important to have a plan for clearing the debt as quickly as possible,” says Mr Callery.

Although there is a place for credit cards in paying for your holiday, you will certainly get a bonus in your loyalty points, just be sure to pay the balance or expect a nasty interest hit.

Money.com.au has also crunched the numbers to estimate how long it would take the average Aussie to save for a trip to the most popular overseas holiday destinations.

The saving time for each location was calculated based on a 10 per cent savings rate of the average weekly earnings of $1,923.40 (from ABS data). Travel costs are for one adult and include return flights to the main airport in each destination, 10 nights in a four-star hotel, and a spending and travel allowance.

Australia’s top holiday destinations by shortest saving time

1. China

Whether travelling for business, pleasure, or both, China offers an incredible mix of ancient and modern marvels — from the iconic Great Wall and historic temples to the vibrant cities of Beijing and Shanghai. A 10-day trip to China costs around $4153.

Saving time: five months

2. Thailand

Australians have always had something of a love affair with Thailand, known for its stunning beaches, vibrant street markets, and rich cultural heritage. A 10-day trip to this Southeast Asian paradise costs around $4543.

Saving time: 5.4 months

3. Bali

More than one million Aussies visit Bali each year, and it’s easy to see why. This Indonesian paradise is renowned for its stunning beaches, vibrant nightlife, and affordable luxury. A 10-day trip to Bali costs around $4599.

Saving time: 5.5 months

4. New Zealand

If you’re visiting our neighbours across the ditch for a scenic escape, New Zealand has plenty of wild landscapes and adventure to offer. A 10-day trip to this scenic destination will set you back about $4768.

Saving time: 5.7 months

5. Vietnam

Vietnam offers a captivating blend of bustling cities, serene countryside, and stunning coastlines. Travellers can explore Hanoi’s rich culture, cruise through Ha Long Bay, and tuck into some weird and wonderful street food. A 10-day trip costs about $5062.

Saving time: 6.1 months

6. Singapore

Singapore has long been a favourite destination for Australian travellers due to its close proximity and luxury accommodation. It also offers great food, iconic sights, and a mix of Malay, Chinese, Indian, and Western influence. A 10-day trip to this vibrant city costs around $5237.

Saving time: 6.3 months

7. Fiji

Fiji is synonymous with crystal-clear waters, lush tropical islands, and relaxing beach resorts.

Perfect for a tranquil getaway or an adventure-packed holiday, this island paradise is ideal for unwinding. A 10-day trip costs around $6030.

Saving time: 7.2 months

8. Italy

A must-visit for art lovers, foodies, and history buffs alike, Italy is renowned for its iconic sites like the Colosseum, Vatican City, and picturesque coastal towns. A 10-day journey through Italy costs approximately $6,515.

Saving time: 7.8 months

9. United Kingdom

The UK offers the perfect mix of sightseeing, history, and local flavour. Travellers should delight in exploring London’s highlights and experience the charm of British villages. A 10-day trip to the UK costs around $7459.

Saving time: 8.9 months

10. United States

If you’re heading to the USA to live out your American dream, explore world-famous landmarks, iconic cities like New York, or catch an American football or basketball game. A 10-day trip costs around $7819.

How do you pay for holidays? Would the above list influence your decision? Why not share your thoughts in the comments section below?

Also read: What are the 2025 travel trends for older Australians?

Jan Fisher
Jan Fisherhttp://www.yourlifechoices.com.au/author/JanFisher
Accomplished journalist, feature writer and sub-editor with impressive knowledge of the retirement landscape, including retirement income, issues that affect Australians planning and living in retirement, and answering YLC members' Age Pension and Centrelink questions. She has also developed a passion for travel and lifestyle writing and is fast becoming a supermarket savings 'guru'.
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