If you want to have an enjoyable vacation, you will likely have to spend a good amount of money on it. Most people usually try to “afford” their trips by taking out loans, which is not advisable. When you take a holiday, you are supposed to relax, not keep thinking about the enormous amount of debt you will be coming back to.
So, in this blog post, we will give you 10 helpful tips that will help you save for your next vacation. With these tips, you won't have to spend your time worrying about the money you are spending on the trip. This will ensure that you actually relax and unwind during your getaway.
The key here is to start planning early. If you want to go on holiday in December, the previous January is a good time to start planning. This way, you will be good and ready when the time comes to take off! Continue reading below to find out how you can start planning today.
Research How Much You Will Need
This is the first and most important step of you are planning for your vacation. You must do an analysis of all of the costs that will be associated with the trip. This analysis should include airfare, hotel bookings, car rentals, insurance, food costs, activities, etc. You must also consider the variation of prices during peak seasons if that is when you will be traveling.
Open A Savings Account
Once you decide to plan a vacation, you will need to start saving right away. However, if you are the kind of person that cannot be trusted with money in your checking account, you may want to consider opening a savings account. You can use this account to deposit your vacation money. These accounts usually have some interest attached to them, so you can also earn some money simply by saving. Separating your everyday money with your vacation money makes it easy for you not to spend it and ensures that you stick to your plan.
Cut Down On Your Expenses
The truth is that in order to enjoy a good vacation in an exotic location, you must be willing to sacrifice. This means that you cannot just keep spending money willy-nilly as you have been before. More often than not, to afford such a trip, you must cut back. The money you save by cutting back should be put into the savings account that we suggested above.
It’s can be difficult, but you must stay motivated. You could consider putting up images of your desired vacation spot all over your home. These will act as a reminder of what you are working towards, and what you wish to achieve. These images can help keep your eye on the prize.
Find Ways To Make Extra Money
Making a little extra money for your trip can go a long way. Some extra income could allow you to participate in holiday activities that you would otherwise have to miss out on. Whether it is picking up a few more shifts or starting a side hustle, taking on more work before your vacation could pay off tremendously. Think of all the things you could do while on holiday with that extra cash!
You could take up dog walking, tutoring, babysitting, etc. There are many ways to earn extra money that don't require too much effort on your part. You could even rent out one of your spare rooms on Airbnb!
Participate In Contests To Win Vacations
There are plenty of raffles that offer you the chance to win a vacation. You could win a dream vacation, simply by participating and playing the games. Furthermore, the proceeds of these contests often go to great causes! Though we guarantee that you will win anything, you could test your luck and give back to charity at the same time.
Get A Rewards Card
If you have good credit and are disciplined enough to pay off your credit cards in full and on time, then you should check out banks that offer travel rewards. One of the most popular banks that offer such rewards is Chase Bank. Their Chase Sapphire Preferred card offers you plenty of bonuses when you sign up for it. You can use these bonuses to help pay for your trip!
Eat Out Less
Eating out less is an excellent way to save for a vacation. When you sit down and calculate just how much you spend on eating at restaurants, you may be surprised to find that you are spending quite a lot of money. Instead of eating out, buy the groceries you need and cook food in your house. Not only is this often the healthier option, but it will save you bundles of money as well. The money you would have spent can be put towards your accommodation during your vacation.
Hold A Yard Sale
You probably have a garage full of stuff that you do not use. For our last tip in this list of 10 helpful ways to save for a vacation, we are suggesting to hold a yard sale. Those old clothes you do not wear, bags you do not use, and even the skates you have never won could make you a good amount of money that you can put towards your vacation. As an added bonus, you will also be decluttering your home in the process! Talk about a win-win situation.
We hope that this list of ways to save for a vacation will help you put some money aside for your big getaway! It will take discipline and dedication, but, when you have your eye on the ball, it is doable. Make an awesome vacation a priority and start saving today! Wish you the very best!