How to Save Serious Cash for Your Next Dream Vacation

Feb 25, 2021

A vacation is supposed to take you away from the daily grind and help you de-stress completely; but that’s easier said than done when you are wondering how you are going to manage all the travel-related expenses.If you feel the urge to take a break and head out on that much-needed getaway, it’s probably a good idea to start saving for a vacation.While this may seem like a Herculean task, all you need is a bit of creativity to fatten up your bank account and be vacation-ready without having to take out a loan for it. Here are a few effective ways to save money for a vacation without breaking the bank:

  1. Open up a new bank account specifically for your vacation

This may seem like overkill, but the best way to save for a vacation is to open up an exclusive vacation savings account; set up automatic payments to it and make it a point not to dip into that money until you are ready for your trip.If you open up an interest-bearing account, the dollars will build-up even as you wait for the right time to take the vacation. You should consider setting up the account with an online bank; some of them also offer bonuses when you open new checking accounts.

  1. See what can be cut out from your food budget for the month

For most people especially those with kids, food represents a significant monthly expense. See where you can trim these costs and you will notice that after some time there is a comfortable amount of cash for your getaway. You can easily save some money by shopping at farmers’ markets or purchasing food products in bulk. Consider growing vegetables in your backyard or even refrain from buying those goodies that can be categorized as luxuries. In simple words, be smart with the way you spend your money.

  1. Carpooling is a great way to make money from your vehicle

You can rent out your car or check which communities will pay you to use your vehicle to carpool to work. Alternatively, you may be able to make some money on the side as a Lyft or Uber driver. You also have the option not to have a car at all and that can save you a considerable amount of money for your vacation.

  1. Consider picking up a side job

Taking up an extra job may seem like a lot of hard work that will eat into your leisure time. But you should keep your goal in sight and look upon it as the best way to save money for a vacation.If you work consistently at an extra job for a few months, that can add a sizeable amount to your kitty to allow you to enjoy a stress-free vacation. Some of the things you can consider are serving, babysitting, and standing in line, altering clothing and more.

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