How to Start a Vacation Fund For the Ultimate Family Trip

//How to Start a Vacation Fund For the Ultimate Family Trip
  • vacation fund

Are you ready to take your family on an amazing vacation? Whether you’re planning on doing a road trip or a vacation that requires air travel, you’ll have to save up some cash.

Saving money sounds like one more thing to organize in your busy life. The good news is that it’s not that hard to create a vacation fund. You can set aside a small amount of money each month or use a variety of other tactics to start saving.

Let’s look at all the ways to get your vacation savings account healthy and ready for travel!

Determine a Vacation Fund Initial Goal

The first step is to decide what your vacation savings plan should aim for. What type of vacation would you like to go on? Where do you want to go?

Many families want to go to Disneyworld, while others want to visit the Grand Canyon or another national park. You may want an island vacation, or perhaps a U.S. beach.

Once you decide on your destination, you’ll be able to start estimating your costs. Here are some things to consider:

  • Will you drive or do you need to fly?
  • Are there admission tickets?
  • How much will food be?

Use this information to rough out your initial budget. But don’t worry – you don’t have to build your vacation savings account to this level!

Find Ways to Reduce the Costs

Now that you have the initial start, the next step is to figure out how you can save on the cost. There are so many ways do this!

If you’re going to a common vacation destination such as Disney or the Wisconsin Dells or someplace similar, look online for coupons. In addition, read blogs. Many bloggers talk extensively about the best way to plan a Disney vacation, for instance.

Food is another cost you may be able to reduce. If you need to stay in a hotel, can you choose one with a kitchen? If so, you can buy groceries and cook in the room part of the time, which will save you significant cash.

Another important consideration is when you travel. Traveling to major vacation spots in the off-season can not only save you money, it will often be less crowded and more enjoyable as well!

Consider cheaper ways to travel. Driving is often the least expensive, but sometimes a bus, train, or even inexpensive airline is a better option. Keep your mind open!

Finally, don’t try to do too many things at once. A simple trip to the Grand Canyon can be a lot more memorable – and less stressful – than an epic road trip to hit every national park west of the Mississippi.

Start Building Your Vacation Savings

Now that you know how much you truly need for your vacation fund, it’s time to start saving. There are many, many strange ways to save as well as more common ones!

Here are some ideas.

Set Aside Money Every Week

If you have trouble saving for a vacation, it may help to set aside a small amount every week. One creative idea is to save $1 the first week of the year, $2 the second week, $3 the third, and so on.

The last week of the year you’ll set aside $52 – and have a total of $1378! That can go a long way toward a vacation for your family.

If you set this money aside in a dedicated bank account, you can watch it grow throughout the year, which is very motivating. You can also make sure you don’t spend it on something else!

Do a Recurring Deposit From Your Paycheck

If you’d prefer to save a specific, unchanging amount every month, you may want to set up a direct transfer from your paycheck or bank account. The money can go into your vacation fund account, and because it goes right away, you won’t miss it.

Automatic savings doesn’t rely on you to remember to make a transfer, and there’s no temptation to skip “just this one time.” Instead, the money builds up without you seeing it, and your saving for vacation is painless!

Keep a Change Jar

Do you assume that loose change won’t make a dent in your vacation savings? Think again!

You’d be amazed how quickly those pennies, nickels, dimes, and quarters add up. At the end of a year, you can easily have several hundred dollars in a change jar.

Combine a change jar with one of the other savings techniques, and you can significantly increase the amount you have to spend on your vacation!

Hold a Garage Sale or Sell Items Online

If you’re on a tight budget, you may not have bills you can cut back on or reduce to make extra room for savings. But most Americans have way too much stuff – even if they don’t realize it yet!

As they say, your trash is someone else’s treasure. You can sell items online or hold a garage sale to get extra money for a trip. It’s a bit of work, but it’s worth the effort!

If you hold a garage sale, make sure you do it correctly. A few simple tips can make the difference between making several dollars and making several hundred dollars.

Are You Ready for an Amazing Family Vacation?

Vacations can give your family memories that will last a lifetime. When you follow these tips, not only will you save money on your vacation, you’ll be able to create a vacation fund painlessly.

Automatic savings, setting aside a small amount each week, or even holding a garage sale are a small price to pay for an amazing vacation your family will be talking about for years!

Interested in more ways to create joy and remove stress in your life? Follow our blog today!

By | 2018-05-27T20:55:06+00:00 May 27th, 2018|Travel|

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