26 Oct How To Save for a Vacation
Dreaming of taking a vacation, but not sure if you are able to afford it? Saving for a big trip may seem daunting at first, but if you plan, it can be a lot easier than you may think!
Follow these steps to save up for that vacation you’ve always been wanting to go on:
Research multiple destinations: Make a list of potential destinations and research them to find out pricing estimates. You may have your heart set on one particular spot, but you may find out after researching that going to a few towns over could actually save you hundreds off of your hotel.
Make a budget: Take what you have found from your research and make a comprehensive budget. Don’t leave anything out; it’s better to over budget at the very beginning! Budget for a hotel, transportation, food, drinks, sightseeing, and souvenirs.
Come up with a savings plan: Open up a separate savings account specifically for your vacation. Then, divide your total estimated cost of the vacation by however many months you have left to save. For example, if you have 6 months to save $1200, you would need to set aside $200 every month. The more time you have to save, the easier it will be, so start putting money aside as soon as possible!
Cut unnecessary expenses out of your everyday life: Look at what you are spending everyday and consider what you can do without. For example, if you skip your daily coffee run everyday, you could save $80-$100 in just one month!
With some research and planning, you can make the vacation of your dreams a reality! Where are you flying off to next?