Vacations are supposed to be relaxing. But how can you relax when you’re stressed over your credit card balance because you didn’t plan (and save) ahead of time?
Here are some tips that will help you prepare for your vacation, at least financially:
- Start a vacation fund. – Open a separate bank account. Set up a regular, automatic withdrawal from your paycheck for your vacation fund.
- Hold a garage sale. – Liquidating assets that have no more value to you but is valuable to others can help free up space in your home AND also be the foundation for your vacation fund.
- Cut back on food expenses. – Eating out is not always the answer. Establish a routine with family dinners to save hundreds of dollars a month.
- Encourage kids to contribute. – This is a family vacation so everyone should be able to contribute to the cause. Whether it is mowing lawn, babysitting, a lemonade stand, clipping coupons, etc. This gives your kids a sense of pride for contributing to the vacation budget.
- Make a goal. – Have a savings goal and keep track somewhere visible to the entire family to show progress making it toward your goals. Maybe use a thermometer!
Start a change jar. – Keep this accessible to the entire family and have everyone empty their pockets each night into the change jar.
Family vacations are a great way to make lasting memories to cherish. Even on a tight budget you can find clever ways to save money on a daily basis that will add up to help with your vacation expenses.
