Saving up for a Vacation? Try These 5 Helpful Tips
Dreaming of a Hawaiian beach retreat or a week skiing in the mountains? Taking vacations can be one of the most memorable experiences an individual or family can have. However, many vacations spots are expensive. Throw in the cost of transportation, meals, souvenirs and time off work and that expense can easily make a vacation unattainable. Instead of skipping the vacation or choosing a less expensive option, you can make a savings plan that will help you take the trip of your dreams. Here are five tips to get you started.
Open a New Savings Account
Knowing how much you are putting away for your vacation after each paycheck can help you keep track of your goals. Consider opening a new savings account reserved for your vacation fund. You can even set up an automatic withdrawal from your checking account each month so that you save before you have a chance to spend the money.
Get a Side Job
Have some free time on nights or weekends? Getting a side job can be a great way to beef up that vacation account (and keep you from spending money during your downtime). Consider something you enjoy doing. If you’re a writer, you can pick up some freelance jobs. If you’re a book lover, you might want to work a Saturday at your favorite bookstore. Make the experience an adventure and watch your savings grow!
Cut Back on Spending
Most people are surprised to see how much they spend each month on things they don’t need. That coffeehouse blended drink every morning or weekly happy hour with coworkers can add up quickly. Track your spending for a few weeks and find places to cut that won’t severely impact your lifestyle.
Make It Into a Game
Saving money and cutting spending can be stressful. Making it into a game can make it more of an adventure than a hassle. Try having a pantry night every week where you must make a meal out of only what you already have in the house. Have the kids choose weekend entertainment that is free or under a certain cost. Challenge your spouse to a week of low spending and have a fun prize for the winner. When you make it a game, you enjoy the process instead of dreading it.
Keep Your Eye on the Prize
It’s easy to forget what you’re saving for, especially if you’re bummed about missing your coffee fix or dinner splurges. Put a picture of your destination on the fridge at home or by your desk at work. Talk about what you’ll do on the trip regularly with your friends or family. When you remind yourself what the effort is for, you’ll feel less deprived.
Don’t let the cost of a nice vacation keep you from making the memory of a lifetime. By using these five simple tips, you can quickly save up the money to make your dream a reality. If you have questions about opening a savings account or want more money-saving tips, please visit our website.