Maybe you’ve spent more than expected on renovations, or you’ve recently taken a personal loan for a new car, or you have racked up a large credit card balance, or you’ve decided to put your kid through an exclusive private school. No matter your reason, for those on a budget, here are some low-cost ways to afford a holiday and keep stress levels (and sanity) in check.

Stay put and holiday locally

Australia is an amazing and geographically diverse country, in winter there’s snow in the southern parts of the country while the northern tip is still enjoying 30-degree days. With the Aussie dollar taking a hammering on the global market, it’s purchasing power has declined against two of the favoured destination, USA and Europe. And days when you could buy breakfast, lunch and dinner for under $15 in fast developing Asia are a distant memory.

With the AUD’s buying power in the decline, holidaying within Australia may allow you to enjoy a planned time out and save some of the money you would have spent on that long-haul flight. Also, depending on how much you want to spend (or save 😊) you can travel to your holiday destination without actually having to catch a flight!

Rent, swap or house sit

There has been a significant growth in online short-term rental services like Airbnb and VRBO or HomeAway when looking for holiday accommodations. Recently, even a hotel comparison site has started offering short term home share style holiday accommodation booking options as well.

Short-term accommodation rentals save you money in couple ways, firstly, the rent you pay tends to be significantly cheaper than what you’d pay at a hotel. Plus, you have a full kitchen (and laundry facilities) so you can make some of your own meals “at home” instead of eating out during the entire trip.

Having some toast or cereal with your morning coffee before heading out for the day can add up to significant savings over the course of a week. And, at the end of the night, a beer or a bottle of wine chilling in the fridge is a lot cheaper than anything available in the minibar! To really save, even picnic lunch boxes can be prepared and taken away.

Another unique way to save is to sign up with a few home exchange sites to see how you could potentially swap your home with someone interested in visiting your city. However, this options suits longer periods of stay rather than a short week or two and it also won’t suit anyone not liking the idea of strangers living in their house.

If you still want to get away but your unable to swap accommodations, consider signing up for house sitting services. Just remember, most house-sitting offers requires the house sitters to undertake particular task for the owners while they are away, it could be as simple as walking their dogs.

For house swapping and sitting, it would be wise to do a thorough research on the booking site and the persons you will potentially swap or sitting for. The first place to start would be to read as many reviews and comments available in regards to the site and the host. Swapping and sitting are also great options for an extended overseas holiday, all you need is to pay for the flights over.

Last minute vs. long-term planning

There are certainly some fantastic deals when buying unsold flights and hotel accommodations on last minute holiday websites. But, with that being said, you’re leaving the timing and location of your trip to the whims of when and where everyone else didn’t want to go.

If it’s a resort holiday you’re looking for, you can also book months in advance for substantial savings and the same goes for flights. You’ll only need to pay a small deposit to confirm your hotel reservation, and pay the balance on arrival at your accommodation.

Planning well-ahead also pays off if you’re looking into house swaps, short-term rentals, or house-sitting gigs. The best places get booked up early, so if you feel you’ve run out of time for a holiday this year, put some of your holiday time towards next year’s big trip.

Remember, making timely mortgage repayments is an important commitment. This doesn’t mean that you can’t take a holiday, you just need to plan one that’s affordable.