It is estimated that 40 percent of people in America are skipping their yearly vacation. It is important to take some time off from your job in order to reduce your stress. Vacations also allow you to experience new things and create memories with the people you love. A lack of funds is one of the reasons that many people opt to skip their yearly vacation. Fortunately, there are many things that you can do in order to save for a vacation.
Start a Vacation Fund
You should start a savings account just for your vacation expenses. Set your account to where money is automatically transferred into it every month. You may want to open this account with a bank that is different from where you have your primary checking and savings account. If you separate the vacation fund from your other accounts, then you will be less likely to take money out of it when you need extra cash.
Create a Change Jar
In addition to opening another savings account, you may also want to consider starting a change jar. You should put money into the jar every time that you get spare change. You can also put small bills in the change jar.
Reduce Your Monthly Grocery Budget
Groceries are a major expense. If you have children in your household, then it can be even more difficult for you to save money on groceries. However, there are many things that you can do in order to reduce your grocery expense. For example, you can save money by buying food in bulk. You may also want to start your own garden.
Additionally, you should cut down on buying things that you do not need, such as sodas and sweet treats. Not only will it help you save money, but it will also help you eat healthier. You should avoid shopping while you are hungry. If you are full when you go to the grocery store, then you will be less likely to make impulse purchases.
Save Your tax Refund
It is a good idea to save your tax refund if you plan on going on vacation. You may be able to pay for most of your vacation with your tax refund.
Get a Side Job
You may need to bring in some extra income in order to finance your vacation. There are many ways that you can make money outside of your regular job. For example, you can clean people’s home, cook for people, babysit or pet-sit and sell things on eBay. You may also want to get a seasonal job. Most retail stores are always looking for someone to fill positions during the busiest times of the year, such as the holidays.
Take Advantage of Free Entertainment
There are many ways that you can entertain yourself and family with little or no money. For example, you can rent books and DVDs from your local library. You can also go to some of the free events in your area.
Withdraw From YOUR Bank’s ATM
ATM fees may seem small, but they can add up over time. In fact, the average bank charges $2.50 for withdrawal fees. Even if you are only taking money out of the ATM once a week, this can still can cause you to waste a lot of money. On the other hand, if you choose to take money out of your bank’s ATM, then you can save over $100 per year. You can put this money towards your next vacation.
Get rid of Unused Memberships
You may be wasting money on memberships that you are not using. For example, if you have not used your gym membership in months, then there is no need for you to continue to pay for it every month. Even if you do use your gym membership, you may still want to consider cancelling it in order to save money.
There are many ways that you can work out and spend less money. For example, you can look up free workout videos online. If you love taking fitness classes, then you should look for discounts on Groupon.
Rent out a Room
If you have a house with a room that you are not using, then you may want to consider renting it out. This is a simple way to bring in some extra income. However, you want to make sure that you thoroughly screen potential tenants.
You can find coupons online and in the mailbox. This is a simple way to save money on your everyday purchases.
Bring Your Lunch to Work
Eating out every day can add up over time. That is why you want to consider bringing your lunch to work every day. You can potentially save over $70 per month by bringing your lunch to work.