Ways To Save For A Fun Summer Vacation
No matter what amount you bring home, you can make a fun vacation happen. There are a few easy ways to making saving for summer vacation easier. First, decide where you want to go. Assess how much money you’ll need to make it happen, and start saving! Here’s how:
- Set Up A Separate Savings Account: It’s hard to save when you don’t know exactly how much you have. Leave temptation behind and set the vacation funds apart from the normal savings so that you aren’t tempted to dip into it. It’ll give you a clearer picture of how much you have and much more you need to save.
- Do Automatic Transfers: Have settings on your checking account to automatically transfer a set amount every week or month to transfer into your vacation savings fund. It’ll make saving brainless. The only thing that you need to do is keep tabs on how much you have to spend throughout the month to avoid overdrafting.
- Extra/Bonus/Tax Returns: At the end of the year, most companies give out bonuses for a job well done. If you are lucky enough to receive a healthy bonus, don’t toss it away on gifts. Same goes for the tax returns. Divvy it up between things like bills, debt, and savings. Set aside a little extra to dump a portion into the vacation account to save up for a great trip.
- Trim Back On Extra Spending: It’s one of the most difficult things to do, but once you change the amount that you spend per week, you’ll see more and more money in the account. It’s deceiving the amount of money that you spend on extras. Ten dollars here and there suddenly becomes hundreds, and before you know it, you wonder where $1000 went. Cut out extras like the daily coffee trips, avoid buying new clothes if possible, and host parties at your apartment instead of always going out. It doesn’t mean that you can’t enjoy life, but be more strict about recognizing what you need vs. what you want.
- Get a Side Job: Another way to supplement your vacation fund is to produce more money. There are several ways that you can introduce more money to your life. Register to become a dog walker, deliver food, or even become an Uber or Lyft driver. Spend a few extra hours a week on a side job, and you’ll be surprised at the amount of money you have at the end of the month.
- Sell Unwanted Item: Do you have a pile of things in the apartment that you haven’t touched in months or even years? It’s time to clear out the place, and make a few extra bucks doing it. Post things on Facebook Marketplace, LetGo, eBay, or other apps. A few photos, a description, and a decent price will move things quickly. You’ll have a tidy apartment and extra money!
You’ll want to have a few hundred dollars as a buffer in case you spend more on the trip than you anticipate. It’s better to have more than to go in debt. Be open about your efforts to save so that your family and friends can help you stay on track.