Vacation should be a relaxing and mind-blowing time. A time meant to forget about all those responsibilities you have. However, sometimes it becomes stressing not knowing if the funds you have will be enough to cater for everything.
Here is a list on saving to get you started on your next vacation.
1. Open a Vacation Bank Account
A savings account specifically for vacation is a great starting point. There are options for types of accounts; you can choose those that have are interest-bearing so that your money can also earn some extra cash.
Different banks have different rules regarding their accounts. However, you can go for an online bank as it helps you keep track of your saving.
Ever gone to a bank and you were told you couldn’t open an account with the bank because of your banking history? Well, in case you find yourself in such a situation, and you need that vacation savings account, some banks give people second chances. They are known as second chance banks, and you can opt for them. You can get more information here.
Look at your credit card annual statement and see what you spent on vacation the previous year. Divide this amount by 12 for monthly saving.
2. Eat out Less
This is easier said than done. However, how often do you eat out? You’d be surprised at how much you spend monthly on going out. Cut down on these expenses. If you eat out three times a week, make it once.
Also, you can always carry packed food to the office to avoid popping in your favorite joint. Most people spend more towards the weekend. You find that you have Friday night out with your friends and Saturday is the date night or movie night.
Check your spending habits, and you will be surprised at how much you can save.
3. Cut Down on the Monthly Budget
A budget is a necessity for every household. I believe you already have a monthly budget. Buying in bulk can save you a few coins. Also, try removing what is not necessary on the list.
How about starting a garden in your backyard? Or shopping for organic foods?
Energy consumption is a great way also to save. How much is your electricity bill? Do you leave all the lights on when going to bed? Are some of your electronics using up too much energy? Find ways to cut back on the utility bills and get to save more for your vacation.
4. Get More Ways to Earn Money
Besides your day job, is there anything else you do to get an extra income? If not, it’s about time you did. There are plenty of opportunities out there.
Whether it is getting a more traditional side job like babysitting or getting creative and exploring the online world, this will help bring you closer to your target amount for the vacation.
Online jobs are plenty; you could start blogging and make money out of it, you could become a virtual assistant, graphic designer, and so much more.
There are also season work opportunities that arise especially during summer. Find businesses that employ people on a short-term basis. This could mean sacrificing your weekends to help raise money for your vacation.
5. Sell Stuff You Don’t Need Anymore
When last did you declutter your house? Decluttering is almost a necessity at some point. When sorting things, you’ll get clothes and furniture that you no longer need. Instead of stacking them in the basement, consider selling online and get some returns.
I am sure you have stuff that you no longer need such as shoes, tablet, your old SUV; they could benefit somebody else while you get money in return. Different options are available which makes work easier. Options such as Amazon, consignment shops, pawnshops, eBay and Facebook garage sales groups are a great starting point.
6. Consider Putting Your Home on Airbnb
Renting out your home is an excellent way of making money. Airbnb is a great place to get people who are looking for homeowners to host them. Get a good camera and take photos of the house and post them for interested parties to view.
People are getting more comfortable with home rentals than hotels because they want to have that homely feeling away from home.
The money you get should help you go on vacation knowing that you have enough money for the entire stay.
Renting out your car can also bring in extra cash. Doesn’t it feel nice when you go on vacation knowing you have enough funds? Consider the above tips and see the change in your holidays. You can save for a whole year or even six months depending on your vacation budget.