How to Save for a Vacation

By: Mrs. G

In this economy, travel or vacations seem to be out of reach for most people. But maybe not. Here are a few ideas to help you earn and save your way to that trip you have been dreaming about!

Make Saving Automatic. Have a specific dollar amount directly deposited from each paycheck into a bank account that is specifically earmarked just for a vacation. Making this an automatic transaction will help to make sure that it doesn't get crowded out by other expenses or expenditures.

Use Credit Cards Wisely. Besides just spending wisely, and paying off your balance each month, make sure that you are using your credit cards to their best advantage. Some cards award frequent flyer miles and provide travel perks, such as reduced fees for checked luggage. But a card that gives cash back can also be useful, and provides more flexibility for spending your rewards. Make as many regular transactions as you can through your credit card and make those earned rewards work for you. Not a fan of credit cards? See if your bank offers a debit card with similar perks.

Save your Savings. Need some motivation to clip coupons and shop the clearance rack? Each time you make a purchase that saves you money, immediately deposit the amount that you saved into your vacation account. Write yourself a check or do a funds transfer. Using just $10 worth of coupons during your weekly grocery run will add over $500 to your vacation budget!

Have a Sale! Clean out your attic, basement, closets and garage and sell unused items. Dedicate all of your sale profits to your vacation fund. Kids may be more willing to part with old toys if they know a trip to Disney World is involved! Try websites like eBay or Craigslist, especially for larger items. Look for resale or consignment shops that will sell unwanted clothing or furniture for you.

Recycle for Money. Collect bottles, cans, plastic, copper, and turn it in for cash. One California mom fulfilled her lifelong dream of a trip to Italy with her husband by collecting everywhere she went, including work.

Change. Several times a week, empty out your pockets or pocketbooks of all coins and put them in a jar. Even a few dollars per week can add up over the
course of a year.

Happy Travels!