5 Saving for Vacation Tips

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Saving for vacation isnt easy

Saving for vacation isn’t always easy.  

Vacations cost money, and the bigger your family or the type of vacation you’re planning could have a significant impact on your wallet!  However, there are some ways to ensure your vacation dreams are within your reach.

Saving for that vacation you’ve always wanted, or next years trip to the beach with the kids is how you can get there, but first you need to start off with a great plan.

Plan your trip to be able to save for vacation

Vacations don’t just pop up, most of us plan them months or even years in advance.  The better the plan the less surprises you’ll have to your vacation budget.    Consider the following in your plan:

  • What type of vacation will you be going on.  Is this a beach, amusement park, cruise or a ski trip?
  • Who is coming along.  Are the kids coming, is it a romantic getaway or maybe even a solo adventure.
  • How long will you gone, and what accommodations do you plan.  Are you renting a house, hotel rooms, booking a cruise, an Airbnb, or taking the family RV out?
  • What “must do” activities are planned.  Attend a museum or amusement park that requires admission fees, laying on the beach or maybe taking an excursion deep sea fishing trip.  These may run you hundreds of dollars or just the cost of sun screen. 

You can see how these decisions can really make a huge difference in your vacation budget.   Now that you have an idea of what it will cost, let’s continue with the plan.  

Saving for vacation doesn't need to be hard.

Saving money for your vacation plans

Now that we have an idea of what the vacation could cost we need to figure out how we’re going to pay for it.  A cruise for 2 people for a week could run you $3,000 before airfare, transfers, excursions, drinks, activities, sorieigners, and more.  

Planning how to pay for the time away and avoiding the credit card trap will make your vacation that much more enjoyable.  

1. Open a Vacation Savings Account

Saving for vacation using a bank acount

This is my favorite.  Separate your money, and tell it what to do.  Now that you have an idea of how much you’ll need for vacation a little math and you can divide your total into the amount of time until your trip (or when deposits may be due).  This will tell you how much you need to set aside each week or month.  $4,000/10 months = $400 per month needing to be saved.

Put this money into a separate account for vacation.  It now has a purpose and being separated you won’t be tempted to spend it on something else.

Saving for vacation could require you cut out eating out

2. Stop eating out

Eating out is the largest waste of money.  What do you have to show for it when you’re done, other than 2 hours on the treadmill in your future to work it off.  Save your money now, eat at home and set aside what you would have spent for vacation.

3.  Cut out your gym membership

We all want to look good for vacation, but lets ask ourselves.  Are you using that membership the way you expected?  Will you realistically hit the gym three times a week until vacation is here?  Could you run outside or maybe use that treadmill that has a weeks worth of clothes hanging on it in your bedroom?  Save the money from the gym membership and add it to the vacation saving account.

4.  Get a Side Hussle

Pick up some extra hours through seasonal work, be a handyman, baby sitter or pizza delivery.  Can you bring in an extra $100 a week somehow that you can dedicate to the vacation account.   That $400 a month for just 6 months is $2,400 toward vacation dreams.   If you work retail or accounting and your busy season is coming up put those extra hours of pay into the vacation account.  

Do you have a reliable car and some extra time,  consider Uber or Lyft for extra money.   You could meet some great people, get to learn about your local area and make your vacation account grow.

Garage or yard sales could help save for vacation

5.  Sell some stuff

Look around,  I bet you have all kinds of stuff you don’t use or don’t need any longer.  You can sell some of it and deposit that money into your vacation saving account.   Check out Facebook Market, Ebay, to sell your items or hold an old fashion yard sale.  If  you have any baby items that are no longer being used such as, walkers, cribs, clothes and toys these are all great resale items at local children’s consignment shops.

If you use Facebook Market always take your safety serious and don’t allow buyers to come to your home, if at all possible.

Save for Vacation using  a Budget Tool

There are many budgeting tools available online.  Mint.com and Everydollar are tools that allow you to get a better handle on your funds.  These apps are available to use on your computer or phone/tablet.  Create a budget that works for you, and save for the vacation you want.

saving for vacation dreams

Over the past few years we’ve been to places all over the United States and each time we research and know what our costs will be.  I hope this brings you some ideas on how to save for vacation and ways to bring in a little extra money to have the vacation you dream of having.

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