Affordable vacations can be difficult to
plan. Maybe you have a dream destination, but you can’t quite save up
enough for travel costs. Or maybe you can get yourself there, but you’d
have to live on bread and water for the entire trip.
If
your vacation expenses are just out of reach, a few adjustments can
help you put aside more cash and reach your goal. Here are seven ways to
save more for your upcoming vacation.
1. Start a monthly budget
If
you don’t currently have a monthly budget, it might be time to take a
hard look at your spending. Evaluate how much you spend each month on
necessities like rent and discretionary purchases like movie tickets.
Then, set a reduced monthly spending budget and put the money you save
in your vacation fund.
Even after you take your trip, you might want to stick to your budget and keep saving.
2. Open a bank account
If
your travel fund is mixed in with your general savings account or is
simply a wad of cash under your mattress, you should open a dedicated
savings account just for travel. It will be easier to put aside money
specifically for vacation, and you’ll be less likely to dip into the
fund for other expenses.
3. Stop dining out
Whether
you prefer fancy dinners or fast food lunches, eating out is far more
expensive than preparing your own food. Cook your meals at home, pack
your lunches, and kick the money you save over to your vacation fund. It
might hurt now, but you’ll feel better when you’re having a steak and
cocktail by the beach.
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| File photo taken in 2017 shows ride-hailing app Uber's logo on a mobile phone in London, England. (Photo: WILL OLIVER, EPA-EFE) |
4. Get a side hustle
If
you need to boost your vacation savings quickly, a temporary side
hustle can help get you there. You can drive for Lyft or Uber, rent out a
room on Airbnb, or use your professional expertise for some freelance
work. Just make sure to funnel your extra earnings directly to your
vacation savings.
5. Sell your stuff
Spring
is the perfect time to do some cleaning and sell your clutter. You can
host a yard sale, take clothes to consignment shops, or list your
unwanted stuff on eBay. If you value experiences more than things, let
your old property help you get to your destination.
6. Ditch the gym membership
Ironically,
hitting the gym to work on your beach body might be preventing you from
getting to the beach. Cancelling an expensive gym membership will free
up some extra funds for your vacation. You can still exercise outdoors,
at a friend’s home gym, or make use of the thousands of free workout
videos online. Before you do cancel, check your contract to make sure
you won’t have to pay an exorbitant cancellation fee.
7. Get a credit card
With travel
credit cards, your everyday purchases earn rewards that can be redeemed
for airfare, hotel reservations, car rentals, and other common travel
expenses. Many cards even have huge signup bonuses worth hundreds of
dollars in travel redemptions. While you shouldn’t sign up for a credit
card for a single vacation (especially if you have trouble managing
debt), it’s worth a look if you’re already in the market for some new
plastic.
Travel credit cards also frequently offer
built-in benefits like car rental insurance, free foreign transactions,
and trip cancellation coverage.
 |
A recent survey of grandmothers revealed their recommendations on
where to travel before you turn 30. Mike Janela shares their favorite
destinations.
Buzz60
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Josh
is the Content Manager at Credit.com. He works with leaders and experts
in the credit industry to create educational and timely articles that
consumers can use to make more informed decisions. More by Josh Smith.
This article originally appeared on Credit.com. Credit.com
is a USA TODAY content partner offering personal finance news and
commentary. Its content is produced independently of USA TODAY.
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