5 Smart Ways to Save for a Vacation

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Use these easy saving tips to get financially ready for that well-deserved vacation!

Save for Vacation

Set a Vacation Budget
Before you can start saving, you need to determine how much your vacation is going to cost. Here are some common vacation costs to consider:

  • Airfare and/or car rental.
  • Accommodations.
  • Food.
  • Tickets to attractions.
  • Souvenirs.
  • Currency exchange if traveling overseas.

Save for Vacation

Look for Ways to Cut Expenses
Eat out less, cancel subscriptions you no longer or rarely use, research ways to reduce your utility bills and resist impulse buys by unsubscribing to online retailer emails. Then put all that extra money into your vacation savings.

Open a Vacation Savings Account
A dedicated vacation account will make it easier to save up. Most banks allow you to set up a recurring transfer into a savings account, so you can automate the process and not even have to think about it.

Save for Vacation

Try Travelling During Slow Periods
Scheduling your vacation outside of the summer can drastically reduce your costs, making it easier to save. If you must go during the summer, try to travel in the late summer.

Sell Items You Don’t Need
Make extra money to help fund your vacation by selling items you no longer use through an online selling platform such as Facebook, Marketplace, Nextdoor, or eBay.

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