5 Smart Ways to Save for a Vacation

Use these easy saving tips to get financially ready for that well-deserved vacation!

1. Set a Vacation Budget

  • Before you can start saving, you need to determine how much your vacation is going to cost. Here are some common vacation costs to consider:
  • Airfare and/or car rental.
  • Accommodations.
  • Food.
  • Tickets to attractions .
  • Souvenirs.
  • Currency exchange if traveling overseas.

2. Look for Ways to Cut Expenses

Eat out less, cancel subscriptions you no longer or rarely use, research ways to reduce your utility bills and resist impulse buys by unsubscribing to online retailer emails. Then put all that extra money into your vacation savings.

3. Open a Vacation Savings Account

A dedicated vacation account will make it easier to save up. Most banks allow you to set up a recurring transfer into a savings account, so you can automate the process and not even have to think about it.

4. Try Traveling During Slow Periods

Scheduling your vacation outside of the summer can drastically reduce your costs, making it easier to save. If you must go during the summer, try to travel in the late summer.

5. Sell Items You Don’t Need

Make extra money to help fund your vacation by selling items you no longer use through an online selling platform such as Facebook Marketplace, Nextdoor or eBay

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