Thinking that you need a change of scenery? Ready to get your toes in the sand (instead of some snow)? If you have been longing to escape and are thinking about planning your next vacation, here are some quick tips that may help you click ‘book’ and head to warmer (or cooler) climates faster.
1. Set and Stick to a Budget.
Like other large expenses you may incur; planning ahead, reviewing your overall budget and expenses, and setting a realistic budget for what you can afford is important before booking your trip. After your budget is set, make sure you stick to your planned budget. Account for all your travel expenses – including transportation, lodging, meals, activities, and any additional spending you may need to do before leaving and on your trip.
2. Dedicate a Savings Account.
Once you have set your budget, you will want to allocate specific funds to cover the expenses as you start booking your trip. One way to accomplish this is by opening a dedicated savings account. Having a dedicated account is an excellent way to ensure that the funds you are setting aside for the trip aren’t used for other things – like going out to eat or catching happy hour with friends.
3. Set Automatic Transfers.
If you decide to have a dedicated savings account, one way to grow your vacation fund is to set up weekly or monthly automatic transfers. By setting up automatic transfers to your account, you can dedicate funds before it is spent, and better yet, you don’t have to remember to fund your vacation savings. Even a small and steady flow of funds will add up quickly over time.
4. Review Your Subscriptions.
We live in a highly subscription-based society. Another way you can save money for your next vacation is to review the subscriptions you have. Are there some you can live without a few months, or maybe forgot you even had? If so, cancel them and dedicate those funds to your vacation savings.
5. Let the Coin Jar Grow.
Some people like to save their coins in a jar, jug, or other vessels. Instead of dipping into the coin jar from time to time (like for your next Aldi quarter), keep your coin container sealed and decide only to use it for your vacation fund. This tip can be useful especially for having extra spending cash on your trip for a few souvenirs or upgrading an activity. You may be surprised at how those extra quarters (and other coins) add up.
While planning a vacation may be expensive, we hope these tips can be helpful as you plan your future journeys. Happy traveling (and saving)!