5 Ways to Save Money for Your Vacation

Senior Couple

These days it seems harder and harder to save for your or your family’s vacation, here are 5 easy ways to save:

1. Open a high interest savings account that you have limited availability to just for your vacation. An example is Capital One 360 (formerly ING) Savings account. Have a small amount on payday auto-debited into this account. (Even $10 or $20 a paycheck really adds up.)

2. Just like when you were a kid, a simple way to save is by having a change jar. Every day throw the change in your pocket into a jar, also get your kids involved they will get excited about saving for the vacation and start looking for change everywhere. Every few months take it to the bank then transfer the savings into your vacation fund.

3. Thanks to Pinterest I found the $5 Savings Jar plan, every time you receive a $5 bill you add it to your savings jar, after $50 to $100 you deposit the money into your vacation account.

4. Budget all of your vacation before you start saving! A helpful tool is a travel budget calculator, you will get to see some extra spending you may have not noticed earlier. Here is an example: Budget Calculator

5. Remember getting an allowance, time to start again! Give yourself an allowance every week for eating out and entertainment. Keep to your allowance and remember if you sacrifice a little now it will all be worth it in the end.