Planning a vacation? Here are seven ways to save for your upcoming one
- May 29, 2018
- 2 min read
Affordable vacations can be difficult to plan. Maybe you have a dream destination, but you can’t quite save up enough for travel costs. Or maybe you can get yourself there, but you’d have to live on bread and water for the entire trip.
If your vacation expenses are just out of reach, a few adjustments can help you put aside more cash and reach your goal. Here are seven ways to save more for your upcoming vacation.
1. Start a monthly budget
If you don’t currently have a monthly budget, it might be time to take a hard look at your spending. Evaluate how much you spend each month on necessities like rent and discretionary purchases like movie tickets. Then, set a reduced monthly spending budget and put the money you save in your vacation fund.
Even after you take your trip, you might want to stick to your budget and keep saving.
2. Open a bank account
If your travel fund is mixed in with your general savings account or is simply a wad of cash under your mattress, you should open a dedicated savings account just for travel. It will be easier to put aside money specifically for vacation, and you’ll be less likely to dip into the fund for other expenses.
3. Stop dining out
Whether you prefer fancy dinners or fast food lunches, eating out is far more expensive than preparing your own food. Cook your meals at home, pack your lunches, and kick the money you save over to your vacation fund. It might hurt now, but you’ll feel better when you’re having a steak and cocktail by the beach
4. Get a side hustle
If you need to boost your vacation savings quickly, a temporary side hustle can help get you there. You can drive for Lyft or Uber, rent out a room on Airbnb, or use your professional expertise for some freelance work. Just make sure to funnel your extra earnings directly to your vacation savings.
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