We all love a summer vacation and one of the things that can really ruin the plan is having stressful money thoughts. In order to stop such negative thinking and to plan happily for a summer vacation, it is vital you start early and save for summer vacation. This will not only make the preparation easy, but also allows you to lay on the beach in ease and stress-freely. You can set up a separate savings account, where you can easily start to save for summer vacation. As well as setting up an account for this, you can also start cutting back for at least 90 days on leisurely expenses.
At the beginning, a summer vacation may feel like a long way away, but if you start early and save for summer vacation, then not only will this make every second of your vacation worth it, but also help you cover any upcoming costs all without any stress!
Setting a travel budget for a vacation that is to happen in the future can be a little difficult, which is why you can give yourself a boost of a start and start the research earlier! Not only will this help save for summer vacation, but also gives you a little trailer of your vacation! You can use websites such as Priceline or Kayak, where you will get an estimate cost for the summer flights. Researching any special offers and a little about the hotels is also recommending. Hopefully, once the research is done, you will have more of an idea about the budget range you need to save for summer vacation!
Listed below are seven tips, which will help to get you started with saving up for your summer vacation:
Set up a Separate Savings Account
- First of all, find out from your bank if they can set up a separate savings account beneath your main account.
- This is so you can get organizing in complete ease.
- If you set up a distinctive account to save for summer vacation, you can easily keep track of your money and can better focus on making the account grow.
- Reviewing the account regularly will not only keep you constantly motivated, but also allows you to easily track your savings plan.
Making Weekly and Not Monthly Contributions
- No matter how much you prefer a monthly budget in order to organize your expenses and income, you should consider setting up a distinct running category. This is so you can make weekly contributions for your save for summer vacation fund.
- Deposit money in your summer vacation savings account every week, rather than every month.
- This will help you save money for a specific goal.
- You can do this by transferring funds between accounts every week.
- You could write yourself a check, and deposit it weekly.
- Adding this essential to your calendar, will ensure you never miss a week!
Decrease Leisurely Expenses for About Three Months
In order to free up more money for your summer vacation, you need to promise to cut back on any leisure and luxury expenses for at least 90 days. In order to cut down on any extra expenses, you need to take a closer look on your spending habits, which includes things like:
– Eating out
– Mini trips out
If you try to control on these expenses, then not only will you get a big treat in the form of a summer vacation in the end, but can also maximize your budget!
Prepare Your Own Food
Preparing your own food can save you on any extra costs you need to pay for food. Making meals at home is cheaper and also gives you a chance to brush up on your cooking skills! Cooking at home will help you save a significant amount, which can go towards the summer vacation funds
Plan a Week’s Worth of Expenditure
Avoid making any last-minute purchases. This is because right at the end you will be in extreme hurry, which means you will speed up the process and may buy what you see first. Changing your shopping habits will help to keep the cost down during the next few months. Make a list for the forthcoming week, so you know how much you will be spending.
Sell Something for Your Travel Funds
Carrying out some spring cleaning will not only give you a clean house, but may also give you a chance to make some extra cash! Selling items on sites like Craigslist, or eBay will make a motivating addition to your savings account.
Use Savings and Budget Apps
Apps such as Mint.com or SmartyPig can help with tracking daily expenses. You can also manage your budget in ease and save and make a contribution to your summer vacation funds. Financial goals can easily be achieved with these apps and they also give you a better know-how of your spending habits.