It’s that time of year again where you’re most likely daydreaming about your next vacation. Where should you go? Who should you go with? What adventures await you there? Then suddenly, you snap back to reality and realize that you don’t have any money saved to go on vacation.
You think to yourself that maybe, you just won’t go this year. But, don’t be so hasty to make a decision. If you plan properly, you should have no problem saving money to take the trip you’ve been dreaming about.
Here are five simple ways you can save money for your vacation:
- Make it automatic
Open a dedicated vacation fund account. Establish a set amount to put aside from every payday and set up an automatic transfer. It’s that simple!
- Change Jar
Any time you have any loose change lying about make a habit of throwing it in a change jar. You’ll be surprised how quickly those nickels, dimes and quarters add up.
- Track your spending
Start keeping a spending journal of everything you purchase. You don’t have to do this long term, but long enough to give you an idea of where your money is going. Make sure you write down every single thing – every coffee, and every lunch out. By tracking, you’ll be able to see where you spend the most and then you can decide if there’s an area you could cut back on and increase the amount you’re transferring to the vacation fund.
For this to work, you have to decide what’s more important. Would you rather enjoy that gourmet $5 coffee every morning, or would you rather have an extra $150 a month to put towards your vacation? If you don’t want to give up your coffee habit, just make it at home for a fraction of the cost. You’ll still be well ahead in the savings department.
- Sell some unwanted stuff
If you’re like most people, you’re bound to have some stuff lying around the house that you just don’t use anymore. Why not sell it and make money in the process? There are many ways of doing this; Craigslist, Buy and Sell groups on Facebook, Ebay, Consignment stores, just to name a few. Make sure to set this money aside specifically for your vacation and don’t get distracted and start spending.
If you want to take this to the next level and save even faster, you could offer to sell some stuff for your friends. Do the heavy lifting for them and take a cut of the profits made.
- Meal planning
Another great way to save money is to use the local grocery store flyers to plan your meals for the week. By planning your meals around the weekly sales, you’ll save a ton of money and having a meal plan will decrease your temptation to eat out.
So go ahead and keep daydreaming about that Niagara Falls wine tour you’ve always wanted to take. By implementing some of these tips, you’ll have the money saved before you know it and that dream will soon be a reality.