Saving for Summer
Schools are coming to an end and the weather is warming. Which can only mean one thing. Summer Vacation is right around the corner! For those of you who haven’t started thinking about this summer’s vacation, here are some quick and helpful tips to help you save for your big trip.
1. Budget
- Try figure out how much you want to spend on your vacation. Plane tickets, hotels, meals, attractions and souvenirs; the whole shebang. Total it all up. Figure out a spending plan. If money is really tight, consider a couple of long weekend trips instead of one “dream” vacation this summer.
2. Sacrifice
- Cut out the nonessentials. You’d be surprised by how much money could save by omitting that over priced latte out of your daily routine; or taking a break on your family’s monthly movie-rental service.
3. Eat out less, save big
- A typical family with kids younger than age 6 spends an average of $239 each month on restaurant meals, according to the National Restaurant Association. That’s money that could easily be diverted to your vacation fund.
4. Sell some stuff
- From garage sales to ebay, there is always some extra money to be made. The tough part is figuring out what you are ready to part with.
5. Let your credit card pay you back
- Prior to your vacation, use a credit card that accumulates “rewards” for everything you can: gas, groceries — even day-care tuition. Let rewards pile up, then use them toward plane tickets, hotel or rental car discount, or gift cards for chain restaurants you’ll visit on your trip.