Beyond not having enough time, most people put off going on vacation because they simply don’t have the money. Even with savvy vacation savings tips, the cost of getting away can be more than the average person can afford. This is especially true if you plan on traveling as a family. Though vacations aren’t cheap, don’t let limited funds keep you from getting a much-needed break from your day to day norm.
With an effective savings plan in advance, you could generate enough money to have a good time without breaking the bank. Check out these tips to save for your upcoming vacation below:
Start a Vacation Savings Plan
If you really want to get away for a while you have to create a plan to get there. Start by figuring out where you’d like to go and how much it will cost to really enjoy yourself. Then, determine when you’d like to go on this vacation. Divide the amount you need by the number of months you have until your ideal trip. This will give you a ballpark amount of how much you need to save every month. You can create an automatic savings plan to deposit funds from your checking account to your savings account each pay period so saving is easier and consistent.
Cut Back on Monthly Expenses
It may be necessary for you to cut back on certain monthly expenses in order to free up money to save for a vacation. Take a look at your monthly bills and expenses. Are there things that you’re spending money on that are unnecessary or that you could get for less? The Charlie App is a financial resource that can help you find ways to save on your bills by scouting out lower offers and recommending those to you. For instance, if you’re paying too much for cable, the application will recommend service providers that charge less.
Cook At Home
If there’s one thing that households tend to spend a lot of money on its takeout. The average family will spend thousands of dollars each year eating out at restaurants or having food delivered to their home. Though it can be a treat and convenient on days you don’t feel like cooking, that’s hundreds, if not, thousands of dollars you could have for your upcoming vacation. Make the sacrifice and start preparing meals at home. There are a lot of quick easy to prepare recipes that you can try to save you time in the kitchen while saving you money in the long run.
Sell Unused Items
You don’t realize how much junk you have in the home until you decide to do a major purge, cleaning, or you move. The reality is, however, all those things you have sitting around your house that haven’t been used in a while could be worth something to someone else. Go from room to room removing everything that you and your family no longer have a need for. You can then sell these items by having a yard sale or by selling things online.
Get a Side Hustle
If cutting back on your monthly expenses, slowing down on wasteful things like eating out, and selling your old or unused items around the house isn’t enough to get you that vacation you want then maybe you need to increase your income a bit. This is pretty easy to do these days as there are so many side gigs you can do in your spare time that generate a decent hourly rate. You could use your car to work with a rideshare company and give people rides around your town, you could decide to deliver food to homes and businesses for an hourly rate and tips, you can deliver packages and groceries, become a mystery shopper, test websites and apps, and much more. The trick is to not use the money you generate but to put it into a savings account exclusively for your vacation.
The cost of traveling isn’t cheap by any means. While there are plenty of ways to save money on a vacation, when funds are tight it can still be a challenge to get away as often as you’d like. Rather than keep dreaming about the sandy beaches, sunny skies, and fun-filled activities you can do with your family, you can start making financial moves today that will help you to save the money you need for a much-needed retreat.
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Related reading: How to Travel on a Budget