5 Ways to Start Saving for Your Summer’s Vacation Now
- Determine the Costs of Your Vacation
Although it may be difficult to decide exactly what it is you will want to do next Summer, it is a good idea to sit down and give it plenty of thought. This will allow you to figure out how much you will need to have set aside by the time next Summer rolls around and be less tempted to spend.
- Create a Separate Savings Account
This will help you not be tempted to withdraw money from your vacation savings because you will not be seeing how much you have available for you every time you go to make a purchase.
- Use Tax Returns or Pay Bonuses
Whether you are receiving extra money from a holiday bonus or a tax return this is the perfect opportunity to put money away for your vacation because you will not be using this additional income for any bills. Many find it tempting to use this money for something that will make them happy immediately, like a new television, but it’s important to avoid doing this.
- Make Sacrifices
If you are not sure if you can accumulate the required amount in time you may need to determine what things you can live without for the time being so that more money can be put into your vacation funds. This may include things such as going out to the movies or eating out.
- Hold Onto Spare Change
Many people may toss loose change around because they feel that it doesn’t matter but when it comes to saving change can provide you with just the right amount to reach your savings goal. Store your change in a secure place, like a bank in your closet, and take it to your bank to have it deposited into your account.