Start Saving Now for that Vacation of a Lifetime.
Does your family dream about a vacation in a glamorous or adventurous part of the world? Are you anticipating a landmark birthday or wedding anniversary?
Are you retiring after many years with your nose to the grindstone?
Any of the above reasons are enough to spur you on to getting serious about saving money to fund that special vacation. And, if the entire extended family wants to get into the action, all the better.
Here are eight tips for saving the money you’ll need to fund the vacation of a lifetime.
Set a clear goal. Where will you travel and what will you do? How will you get there and when will you go? Once you get the particulars, work independently or with a travel agent to find out the costs. You can’t reach a goal if you don’t set one. Write that big number on a piece of paper and pin it up where you can see it. That’s your goal.
Enlist the family if they want to go along on this adventure. Share all your savings ideas with them and build the enthusiasm.
Open a savings account specifically for this vacation, then set up auto-transfers from your monthly income. The numbers will grow along with your excitement for the trip.
Don’t forget that small change adds up. Keep that change jar in a visible spot and add to it regularly. Just a small bit of change per day will add up over the months.
Cut your spending in certain key areas. Be intentional about saving money by not eating out and then placing that amount into the savings.
Liquidate. This is the time to sell the furniture gathering dust in the attic, the sporting goods you no longer use, the “antiques” that you’ll never restore. Have a yard sale or take the times to a consignment shop. Place that money in the kitty.
If you have the discipline to manage a credit card without paying any interest, you can gather air miles to help pay for your flights. Open the account, funnel your monthly payments through the card and pay off the amount every single week. It works.
Use all the cheap fare tricks in the book. Booking via a partner airline by monitoring travel sites such as Kayak, Expedia, Skyscanner or TravelSupermarket can save you big money. Being willing to take a red-eye is another strategy.
If your pockets are lined with money, you won’t need to save over a long period of time, but for those of us on fixed budgets, this long-term approach can actually be a great deal of fun. So set your goal, choose your savings strategies and watch the travel fund grow. Then get ready for the travel time of your life.