Saving for Vacation
With Summer just around the corner, there’s a word that’s been on a lot of people’s minds – vacation. Everyone deserves some quality relaxation and fun in the sun with their family and friends. However, Summer vacations can definitely be taxing on your bank account. Luckily, I found an article on Bankrate.com with 8 last-minute ways to save for vacation. I would like to share some of these ideas with you to help you in your vacation planning process.
Sacrifice Now for Fun Later
Do you belong to a health club, but aren’t a frequent visitor? Do you have hundreds of television channels, but only watch a handful of them? Find such things as these that you no longer use or use minimally that you can cancel or downgrade. “You’re just trading today’s fun for the fun you’ll have during your vacation. Move what you normally would have spent on these items into your vacation fund.”
Eat Out Less
“A typical family with kids younger than age 6 spends an average of $239 each month on restaurant meals, according to the National Restaurant Association.” Switch to home cooked meals for the meantime, and add that $239 a month to your vacation fund. If the kids are begging for a dinner out, check local restaurants for “kids eat free” nights, which are typical on Mondays or Tuesdays.
Make a Savings Wall Chart
Not only does this help you plan and save for your vacation, but it’s also a fun way to bring the kids into the planning. Track your weekly or monthly vacation savings on a chart, and have the kids decorate it with markers and stickers. “Set some milestones along the way: For instance, once you’ve saved one-quarter of your trip costs, celebrate with a special movie-at-home night or go out for ice cream. Celebrating your success makes the savings process fun.”
Let Credit Cards Pay You Back
In the months leading up to your vacation, use a credit card that accumulates points or rewards for everything you can – groceries, gas, etc. If you let the rewards add up, you can use them towards plane tickets, hotel stays, rental cars, and even restaurants that you may visit on your trip. Just make sure you pay off your balance in full every month. “Vacation debt is not the kind of souvenir you want to collect.”
To see all the ways to save for vacation, click here.
Do you have any summer vacation plans?