Are you trying to figure out how to save for a vacation? If yes, you should check out our guide right here for some useful tips.
40% of Americans will take at least 1 vacation per year. If you have trouble saving for vacations, you might be in the 60% of Americans that don’t get vacations each year.
Learning how to save for a vacation has a little bit to do with being thrifty, but also a lot to do with being disciplined and strategic. Continue reading this article, and we will show you how to save money for vacation.
Plan Your Dream Vacation
The best way to get yourself saving for your vacation is to plan it out. If you know what your reward is, it’s a lot easier to say no to things now for what you’ll get later.
You might want to go across the ocean and experience Fuji Q Highland rides, or maybe your taste in vacation is more skiing in Telluride. Whatever it is — give yourself visuals and specifics for the best results.
Be Smart About When You Travel
When you’re smart about when you travel, you won’t have to spend so much money on your vacation. Look for good deals for “shoulder seasons.” Shoulder seasons are close to peak season, so the time will still be nice, but not so busy or expensive.
Open a Separate Savings Account
If your vacation money is easy to get to, you’re more likely to spend it. Instead of making your vacation savings easy to access, open a totally new savings account for it.
There are some online savings accounts that take a couple of days to transfer funds from the savings to your account, which might make you less likely to tap into it. Most of us want our money for an impulse buys, but if it would take a couple of days, we can get it elsewhere.
Set Up Automatic Funds Transfers
Set up automatic fund transfers so money from your paycheck will go right into your savings account for your vacation. You can think of it as a tax, and before long, you won’t even notice that it is gone. You’ll be able to readjust how you spend your money.
Put Part of Your Tax Refund Into Your Vacation Savings
Many people get a refund after tax time. If you’re one of those people, then put part of your tax refund into your savings to give yourself a boost.
Get a Travel Rewards Credit Card
Travel rewards credit cards can help you get different types of rewards that can go toward traveling. Many rewards cards give you air miles to help you cut down on that expense. Some cards opt to give you free nights at hotels.
How to Save for a Vacation – Now You Know
Now you have a good idea of how to save for a vacation. Taking vacations as a family can help you grow your bond and make life much more enjoyable.
Do you want to learn more about vacationing and other interesting topics? Keep reading our blog to learn more.