How To Start Saving For A Summer Vacation

Winter this year was witness to some unusually warm and sunny weather, but true summer is just around the corner. Good news is that there is still some time left to save for the perfect summer getaway. These tips can help bring your dreams of the perfect vacation to fruition, and without breaking the bank. Implementing a few changes can yield big savings.

Here are five tips that will help bring your vacation dreams to fruition without breaking the bank:

Automate Savings

Instead of manually putting money into savings accounts, set up automatic deductions based on your income. To ensure that you have enough to spend on your vacation, divide the estimated amount by the number of pay periods between now and your planned vacation date (say 20 weeks). It’s better to put pay away small amounts every cycle—whether weekly or fortnightly—as it won’t be tempting to fritter away the money.

Extra Work

If you are not earning enough, but have a little extra time, get a suitable side gig that can help you earn. Nowadays you can make money with sites like Task Rabbit, Tours by Locals or Urban Sitter.

Reduce Expenses

Analyze your monthly bills to figure out how and where you can cut (wasteful) expenses. Expert suggests having your cable company to reduce the channels. But continue to put away the same amount, and pay the new reduced expense to the vacation account.

Take Out

If you eat out often and want to know exactly how much you’re spending, record all food purchases—both eating and spending—for a week. The weekend, go grocery shopping for similar food items. Plan enough time to prepare food for work and cook meals at home. You will get to see how much you can save each week, and it can go into your vacation account.

Keeping Vacations Cheap and Exciting!

Why not plan a summer adventure to local destinations to eat, drink and play? You can also try visiting galleries, museums and botanical gardens that offer free admissions or smaller entry fees. You can make use of relatively inexpensive public transportation in major cities.

For example in NY, residents can opt for a free “cruise” on the Staten Island ferry, around the Statue of Liberty or check out the city from the 250-feet high Roosevelt Island Tramway for less than $3 one way.

Explore Yelp to help find new restaurants that offer brunch, which often costs considerably less than dinner. You can also try out ethnic street fare from food trucks and outdoor carts.

Explore local city guides on Time Out to find any free outdoor events or concerts and festivals. You can always wrap up the day by watching the sunset by the sea or at a park, sitting comfortably reading a book or filling up your journal. Taking postcard selfies in front of popular spots ensure that you have ample mementos of your inexpensive local vacation.

Related Post: Tips to Enjoy a Family Spring Break



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