Top Tips For Funding Your Next Vacation

1. Top Tips For Funding Your Next Vacation

2. While budgeting may not be something you are naturally inclined to do, if you are planning for something like a vacation that has the potential to rack up hundreds of dollars in expenses, it is often the most sensible option, particularly if you are not in a high earning bracket or have other daily costs and expenditures to consider. Check out the following tips for ways to help fund your next vacation: • Have an account solely for your vacation: Whether you set up direct payments to your vacation account, or pay money into it whenever you can, keeping it in a separate account and being strict about not

3. touching it, is one of the best ways of helping to save funds for a vacation. • Make automatic transfers to your vacation account: It can be a pain to transfer money into one account to another when done manually, but when you set up an automatic bank transfer, your chosen amount will simply appear in your savings account on the chosen date. You can of course make this a regular weekly or monthly transfer, or when you feel have enough money saved up, simply have it transferred automatically then. Check whether your employer may even be able to split your pay check into more than one account through a direct deposit.

4. Try to give an estimate of your vacation costs well in advance: It can be easy to underestimate the costs of a vacation, particularly if you don’t account for daily expenditures such as food, travel costs, gifts and souvenirs, for example. Having a target in mind – even if you over estimate the amount – will help you to focus on saving for that amount and should discourage you from spending out on things unnecessarily in the meantime. To help you arrive at an estimated weekly/monthly saving amount to keep you on track for the cost of your vacation, take the total estimated cost of your trip and divide it by the number of days or weeks remaining until you are set to leave.

5. Be strict with extra spending: Something as simple as not stopping off at the coffee shop every morning can help save you a few extra dollars a day, and if you are strict with other expenses that are not essential, you’ll be surprised at just how much money you can save over a short space of time. • Get yourself a piggy bank! While putting loose change in a jar or piggy bank is something many of us associate with the actions of kids, there is no reason why we as adults, cannot do the same when saving for a vacation. In fact, as with cutting down on

6. unnecessary daily expenses, you’ll be surprised how many dollars you can accumulate simply by popping your loose change in a jar. • Have a yard sale or sell items online: Anything that you no longer use, or need can be sold to help fund your vacation, and if someone is willing to give you money for something you no longer want, why not let them! • Get into the right frame of mind: It may sound simple and even a little childlike but cutting out pictures of your

7. vacation destination and sticking them up around your home in prominent positions, can really help motivate you towards saving for your upcoming trip. You could also change the screensaver on your pc, and even the cover image on your cell phone! While planning for your trip, try to combine all the above strategies to ensure that you have the maximum amount of funds in your vacation account, that way you won’t have to scrimp on anything when the time comes around, and saving for the trip will not have felt so much like pulling teeth!

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