Money Saving Tips to Help Fund Your Next Family Vacation

Money Saving Tips to Help Fund Your Next Family Vacation

One of the least fun aspects of a vacation is putting pen to paper and deciding where the money is going to come from. But a strategic plan that involves the entire family can help make saving money for your next trip fun and exciting. Whether you’re looking to go to California, Hawaii or Disney in Florida, the following savings strategies will help make your dreams come true.

Make Saving a Team Effort

Children need to know that in order to enjoy things such as a vacation, the family needs to work hard to achieve their monetary goals. You can make saving a team effort by including your children in the process. Brainstorm ideas on simple ways to put away money for a vacation. Ideas can include hosting a garage sale, lemonade stand or taking cans in to be recycled. If you don’t have a change jar, take a coffee tin or glass jar and start putting away your coins each week. The money earned through your endeavors may be able to fund a dinner out or a fun adventure. Realizing the value of a dollar at an early age will help make your children savers in the future.

Set Up a Separate Account

As a household, you should have a number of savings accounts when budgeting. The money placed in the various accounts may have a particular purpose. If you’re looking to update the exterior of your home with new gutters, windows, or siding, the household savings can go to securing new vinyl siding for the house. The money that you’ve put away for improvements on the home, won’t be misspent to fund your vacation. But the money that you’ve placed in the vacation fund will be used solely for your trip.

Make Weekly Deposits

Although you may prefer adhering to a monthly budget, you can organize your finances to allow for weekly depository contributions. When you place the income into your vacation fund, your family will be excited to see the amount grow each week. Mark it on your calendar or set up a reminder on your computer or smartphone to make the deposit. If you have additional money that you won’t be spending on bills, groceries or other household necessities, quickly put the funds away into your vacation savings account.

Scale Back Expenses

If your family is serious about taking a family vacation and saving for it, take a look at your expenses each month to see where you can cut back. Leisurely items such as cable channels, entertainment, dining out, clothes and toys may not always be a necessary cost for your family. Instead of spending money for lunches out, brown bag it by making a sandwich. If your family goes out for pizza on Friday’s, you can purchase the frozen variety when on sale at your local retail market. You can even make your own homemade pizzas for a lot less money than what it costs to dine out. Whatever you save each week by scaling back, place into your vacation fund.

Sell Things Around Your Home

Gather your family together for some spring cleaning on a Saturday morning. As you go through the attic, basement and other rooms of your home, look to see if you can liquidate any personal belongings. The items should be things that you no longer use or need. You can use social media sites, and the Internet to sell your wares. Places such as Facebook Marketplace, eBay and Craigslist can garner the right amount of attention. Your friends, neighbors or family members may also be interested in the merchandise. The proceeds from your sale can go directly into your vacation account.