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How To Save For Vacation

Posted on April 2, 2015

Who doesn't need a vacation? Many consumers may put off their valuable time away due to work commitments, family obligations, or busy schedules. Another reason that vacations get pushed to the back-burner is that folks just don't have the money to spare. There are ways however, to sock away enough cash for a comfortable holiday away from home without feeling the crunch from day to day. More importantly, any money that you put aside and earmark for a vacation is a good investment in your health: taking a break from daily routines can help rejuvenate the spirit, restore energy and refresh your mind and body. Keep reading for some easy tips and tricks that will help you save for your next vacation.

Don't Wait to Save
The biggest mistake that a person can make is to delay when it comes to saving money. Start setting money aside as soon as you can. Maybe you could start skipping that afternoon latte and try making some tea instead, or you could swap your gym membership for a new jogging habit. Just as you would for any bill or weekly expense, like the gas that you put in your car, make sure to factor the money you intend to save into your budget. Set a reasonable amount and stick to it, and you will be surprised at how quickly it builds.

Tuck Away Smaller Amounts More Frequently
Instead of saving a chunk of money every month, aim for smaller, more frequent contributions to your slush fund. Set an actual piggy bank in a common area of the home and let others know of your vacation goal. You may be surprised at the spare change that accumulates. For an extra boost, skip eating out lunch or dinner and add that money to your bank as well. It may not seem like much, but every little bit will make a difference in meeting your savings goal.

Set Up Separate Accounts
Set up a separate savings account just for your vacation. This ensures that your vacation money doesn't get used for bills or other costs inadvertently. Seeing the amount in this account grow can be an inspiring and hopeful experience, and it'll definitely motivate you to keep saving!

Earn Extra Money Earmarked for Vacations
Do a little something on the side to earn money specifically for the vacation fund. You can involve the whole family too. For instance, you could get together for a thorough house cleaning and then and have a yard sale, or head out before trash day and pick up scrap metal to sell to a recycling center. Also taking on any small jobs to help others out, such as fixing a neighbors car or providing home improvement work, even have the kids offer lawn mowing services to make some extra cash.

Start Keeping Track of Spending
Set up a household budget via a spreadsheet or online template and start tracking every dime that you spend for a period of at least three months. This will help to reveal where and what you are spending money on that might be better put toward your vacation savings account. If you find that you spend just two dollars a day on coffee on the way to work, start making and taking your own from home. This will save you ten dollars per week, which doesn't seem significant until you realize that it adds up to over $500 per year. $500 is a great start to an awesome vacation, and it might just make that daily coffee seem a little less important.

Everyone deserves a vacation, and there is no time like the present. Start putting a few dollars away here and there, and work on establishing where you can cut corners to accommodate your vacation plans. You might be surprised at how quickly your savings will grow without needing to make any drastic changes or sacrifices to everyday routines.

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