Summer is upon us, which means that it’s officially vacation time! A lot goes into planning a vacation, picking a destination, picking activities to do while you’re there, picking hotels, and more. But without a doubt, the most important part is saving up so that you can actually go on vacation. Saving for an entire vacation can seem pretty intimidating when you start to think about the cost of traveling, but it doesn’t have to be. In fact, it can be quite simple!
First, you need to write down all the costs so you have a total in mind. This helps give you some goals to work towards, realistic numbers, and ultimately whether you can do it in the time frame you want or not. This means airfare if you’re planning on flying, gas cost if you’re planning on driving. Next, look at hotels in the area to see what the average cost is, write an estimated number down.
Budget for activities if there are any you have in mind that cost money. Keep in mind, there are tons of free activities in any city or vacation spot that you can do, so if you’re not wanting to fork out the extra cash to get in to somewhere, find some free activities. Give yourself a reasonable budget for food depending on how many people you need to feed. Once you’ve got a total, you’re ready to start saving!
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Make yourself a budget.
By making a spending budget, you can figure out the areas where you’re willing to cut down to free up some vacation money. This is extremely helpful in saving money. It also allows you to factor in a “payment” to your savings account every week or month.
Set a weekly or monthly savings amount, and stick to it.
There are two important things here. Set an amount that you want to save, whether it’s $100 a month, $50 a week, whatever you’ve decided is manageable and realistic. The second part to that is sticking with it. Don’t make any exceptions. This ensures you’ll have enough for your vacation total by the time it rolls around!
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It might sound like a good idea to save $100 a month for 6 months and go on vacation, but you need to be realistic with yourself. If that’s not something that is possible for you financially, and it will put a strain on your finances, plan a vacation for another time. Plan for a year out, two years out, whatever it is that will make it easier for you. Even if you only save $20 a month, it will eventually add up.
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By following these guidelines, you’re sure to be able to save for that vacation you’ve been dreaming of. Just be consistent and plan accordingly!