Are you just dying for an escape from reality? Maybe you dream of Italy, Grand Cayman or even a short stay at a local resort. We'll show you how to save for a vacation WITHOUT compromising your financial goals or blowing the budget!
We can hear it now—the beach is calling our name! Our toes in the sand and the sun on our skin… sounds like a dream to us. You're wallet… weeeeell, that's a different story.
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So many of us dream of traveling and exploring places we've never seen, but DANG… it's expensive. Well, we're here to tell you not to fret. That dream vacation IS possible, and we'll show you how!
PLAN YOUR VACATION
We all probably know what our dream vacation is in our head, but it is important to actually plan it out before you make any financial moves. You need to know what you are saving for! Sit down with your family and plan out where you want to go, what you want to see, and how long you will stay. Take everyone's opinions into consideration and make it a vacation everyone will remember for years to come!
MAKE A VACATION DREAM BOARD
When you are planning your vacation, create a dream board. No… not on Pinterest. We're talking old-school here. Get yourself a poster board and start cutting and pasting… literally! Find inspiration in old magazines or brochures that come in the mail. If you see something you like—throw it on the board.
Creating a physical dream board helps keep your dream a reality. You are more likely to stay motivated and stick to your financial goals if you have that physical reminder staring at you every day.
FIND OUT WHAT YOU NEED
One of the most important aspects of planning a vacation is making sure you have all your bases covered so there are no unexpected expenses. Will you need a plane ticket? Are you going to rent a car when you arrive? Will you have to pay someone to keep your pets while you are away? What about food on the way there and on the way back? There are SO many factors and costs that go into planning a vacation that you may not have even thought of yet!
CREATE A BUDGET—AND STICK TO IT!
Once you have made your dream board, planned out your vacation and considered all the associated costs, it's time to officially MAKE THAT BUDGET! Make sure you account for everything. While it is fun to dream big, keep your budget realistic and attainable and don't sacrifice your financial goals for a vacation!
HOW TO SAVE FOR A VACATION FAST
It is SO important to NOT go into debt for the sake of a vacation. Trust us, there are ways to save ahead of time, instead. Implement a few of these techniques and before you know it, you'll be paying cash for a week long getaway!
- Spending Freeze – One of the BEST ways to save money FAST!
- Open a Travel Savings Account – Don't get vacation fund money mixed up with money from another account. Create a savings account just for your vacation so you always know how much you have.
- Be More Frugal – Develop some simple, frugal habits and you'll be surprised how much you will save, fast!
- Increase Your Income – Begin a side hustle to help contribute to the Travel Savings Account you just opened.
- Sell Things you Don't Use – Now's the time to make some cash for all that extra stuff. Have a garage sale! Put it straight into your vacation fund.
- Overhaul Your Budget – Make sure your finances are on track and money is going where it should. Once your budget is organized and updated, you will know exactly how much you can add to the vacation fund every month.
These hacks are sure to save you money and get you to your dream vacation destination in no time!
FIND DEALS ON TRAVEL
After you have made your budget, try to come in under it by finding great deals! Here are a few ways to save on a vacation, easy.
TRAVEL IN THE OFF SEASON
Instead of traveling in the middle of peak season when everyone else is out, try choosing a date during the off-season. You can save a bundle that way! Not only can you find lodging for up to half the price, there will be less vacation traffic, too. Just make sure the weather will be nice enough for you to fully enjoy your stay.
TAKE ADVANTAGE OF CREDIT CARD REWARDS
This one may not apply to everyone, but oftentimes, credit card companies will award you with airline miles for every dollar you spend. If you plan to fly for your vacation, it may be worth looking into an airline credit card for your basic expenses, such as groceries. Earn miles while you shop for necessities!
CONSIDER A TRAVEL AGENT
Did you know travel agents don't actually cost you anything? That's right… they make their money from the hotels and excursions they book for you! The only fee they will charge YOU, is if they book your flights, since the airlines don't give them a commission for that. Even so, a travel agent is SO worth it and can end up saving you so much in the long run.
Use these clever tricks and learn how to save up for a vacation, fast. You'll be exploring the streets of Rome or the beaches in Hawaii before you know it. Where is your dream vacation destination? Tell us in the comments below!
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- Get out of debt FAST with 3 simple steps!