Saving for Your Dream Vacation
Who doesn't want to head out for the vacation of their dreams? But the cost may be holding you back from solidifying those plans. Here are some tips to help you make your dreams come true.
First you'll need to know what trip you want to take and have an estimate of how much it will cost. Contact me to get an idea, and then you'll have your goal!
Once you have your goal, it's time to reach it. The first thing to do is track your expenses. Being aware of where your money is going is so helpful in knowing where you can trim your budget.
Next you'll want to open a dedicated vacation savings account, so the money grows safely and in a way that allows you to celebrate your progress. Some creative ways to make that account grow:
Cut back on non-essentials like coffee or take out. Whenever you consciously decide NOT to purchase something you ordinarily would have, put that money into the savings account.
Embrace the 52 Week Savings Plan. Have you heard of this? Each week you put a small amount away, but the amount increases weekly. By the end, you will have saved over $1300. Check HERE for more information. You can adapt this challenge however you think it will work best for you!
Create fun short term "challenges" for yourself to make a game of saving. For example, make a "No Spend Week" challenge where you cut out all unnecessary spending and put it away in your account.
Turn saving into a competition with other family members.
Traveling with friends or want to? Be each other's cheerleader or accountability partner in saving.
If you have a special talent or interest, see if you can parlay it into a side hustle. Some people love thrift shopping and then reselling items. Maybe babysit if you love children, or cook or clean. Even craft hobbies can become money maker.
Put any windfalls like tax returns or birthday gifts into your vacation account.
Some other ways to help fund a trip are to save your credit card points for travel. You can use credit card points to help pay for flights. If you use credit cards for you regular shopping to gain the points, but pay it off right away, you won't be increasing your debt, but will be earning money to put toward travel.
Sign up for things like Rakuten for shopping. You'll get cash back for the online shopping you do regularly anyway. Need to make a Target run? Do it online, get Rakuten cash back, and pay the same prices.
Even the saving can be fun! You get to celebrate your milestones, but you also get to anticipate your amazing trip as you go along. Anticipation is a huge part of the fun of vacationing. So start saving, and you'll be packing before you know it!
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