How to Save for a Vacation: 6 Useful Tips to Know

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Do you know what’s wild? The fact that many Americans haven’t taken a vacation in more than two years. That’s a lot of time stuck at work and around the house.

The lack of vacations has a lot to do with spending money (or the lack thereof)

Here to help you get outta the house are a couple of tips on how to save for a vacation. Follow them, get away from work, and relax for a change.

1. Cut out the Financial Drains

You likely have financial drains, like vices or unnecessary spending habits. All those little expenses do add up! Plus, you could probably live without those things no problem, so why not give them the ax?

2. Visualize the Trade-Off

Look up the cost of living in the area you’d like to travel to. This should give you an idea of how far you could stretch the local currency when visiting. It also helps you visualize what you get in exchange for saving back home.

You may find it easier to save when that $5 coffee here could be a full dinner there.

3. Curb Your Expectations

Everyone loves planning a big, around-the-world type trip. It makes you feel warm and fuzzy thinking about all those experiences. Well, scale it back a bit and get real.

Go for quality over quantity when it comes to how you’re vacationing.

Try to do the best things instead of trying to do everything. Go have top-rated experiences, meals, and adventures vs stretching too thin. The refined list helps with getting your savings goal on track and obtainable.

4. Make It Your Everything

There’s a funny thing when vacationing is your #1 priority: you make it happen.

You’ll find it easier to save when the trip means a lot. Those sacrifices to the daily routine become well worth it because there’s a huge payoff. You’ll also find it easier to resist temptations that could derail the savings goals.

Do you know what helps?

  1. Get a big poster board
  2. Attach photos and write down ideas
  3. Mount it where you see it every day

Plant that seed early and remind yourself every day. The passion to do the vacation will grow and so will your resolve in saving money for it!

5. Set up a Separate Account

Does your bank offer sub-accounts? Could you set up a secondary account at a different bank? Or, maybe you could get a traditional piggy bank going?

Get into the habit of saving to this travel fund:

  • Drop-in loose change whenever you have it
  • Toss $10 (or so) each time you get paid
  • Put financial windfalls in there, too

The separate accounts keep the money out of sight and out of mind. You could automate parts of it if you wanted, removing temptation even more. Do this, and you’ll have money for that vacation before you know it!

6. Be Adaptive

Consider changing your vacation ideas based on what fits the budget. Or, if you happen to come across an unbeatable deal or promotion. 

Transatlantic cruises are a great way to see the world if you catch good promos. A crazy-good flight discount might pop up sometime throughout the year too. The point is that you could on vacation deals and save if you’re willing to change it up.

Get More Strategies on How to Save for a Vacation

We covered a few strategies on how to save for a vacation.

You can bet there are a lot more on our site! So, check out more of our tips to reach your travel goals!