Family Vacations are a big thing for me. Knowing the best ways to save for vacation is an even bigger thing.
Growing up we only had one major vacation, and the whole family went. I’m talking grand-parents, aunts, uncles, cousins; everybody and I loved it! I didn’t know it then, but it was one of those cornerstone moments that molds a piece of the future, adult you. It became something I knew I would want to do, regularly, with my family and we do.
It’s not always easy to achieve our vacation savings goals because we live on one income but with a little determination and know-how, it can be done.
Below I’ll highlight some of the things we do to save for our vacations.
11 Practical Ways To Save For Vacation
Open a Vacation Bank Account.
Having a dedicated place to store your vacation money is crucial. We even take it a step further and set up an auto-transfer that happens on payday. You can do this by visiting your bank in person or on your own through your bank’s web banking service. I prefer to do it on my own through web banking because I can quickly cancel or adjust a transfer if it’s necessary. *Note – Check to see if any of your local banks are running promotions. You may qualify for a bonus for opening a new account.
Cancel Gym Memberships
Our local YMCA charges $32/mo to use their facility plus an additional $10 if I sign up for any classes. By canceling this membership and exercising at home, I’m able to put that money into our vacation bank account for an average savings of $504 per year.
Sell Your Old Books and Electronics
Websites like Decluttr make it super easy to sell your stuff. They take old CD’s, DVD’s, books, games you don’t play anymore, cell phones, the list could go on. All you have to do is scan the barcode with your cell phone’s camera to get a price, ship it for free, and you’ll have your payment the next day. You can check it out here.
Save Your Change
If you don’t have one already, get a change jar. My husband and I can fill ours up once every three months (usually) which gives us an average of $600/year.
Use Virtual Coupons
When you use apps like Ibotta or SavingStar, the money you save gets put into a virtual wallet until you withdraw it. Just keep saving until it’s time for vacation! P.S – Sign up for Ibotta here, and you’ll receive $10 just for trying it!
Get Rid Of Your Landline
Unless you’re my dad, you probably have a cell phone. Having a landline too is just an unnecessary expense. One that could save you an average $400 per year by ditching it. Of course, there are exceptions, like if you live in a place with no cell service. Canceling then would be silly.
Does your Credit Card Offer Rewards?
A lot of people have credit cards that offer travel rewards but don’t know it. Check with your credit card company to see if you’re missing out.
Downgrade Your Cable
How many of those channels do you actually watch? I watched about 20 of the 240 channels that came with my package which made downgrading a no-brainer. It also saved me about $250/year. Something else to consider is canceling altogether and using a streaming device like Roku or Amazon Fire.
Take Advantage of Refer-A-Friend
Doing a lot of shopping online? If so, you’re probably using Ebates to earn cash back. But, did you know you can refer your friends and earn $25 for each one? Yep, just click on the menu when you’re signed in on mobile and Refer-A-Friend is the 3rd one from the bottom.
Use Your Bonus
My husband’s company gives a yearly Christmas Bonus to its employees. If yours does something similar throughout the year, put it into your vacation account. Even if it’s $25, it’s still adding up, and every little bit counts.
Sign Up For A Digit Account
Digit is so cool. If you have good intentions about saving money but never actually save, Digit does it for you. It studies your spending patterns and habits, then transfers a tiny bit here and there to your Digit account. You probably won’t even notice. One of my favorite things is their no overdraft guarantee. They are just that awesome.
Additional Ways To Add Income
Survey Sites are an excellent way to add more money to your budget. You can earn cash for spending money or opt for a gift card instead!
By taking advantage of all of these recommendations, you should be able to save an average of $2000 for your next vacation! Where are you headed?
Did you love this article or find it useful? If so, please share it. 🙂
What’s Next? Read..