How To Save Money for A Vacation (16 Tips You’ll Appreciate) | Wildchildretire

Are you a little stressed about your upcoming getaway because you don’t know how to save for a vacation?

Well, stress no more!

Here we’ll show you 16 helpful tips proven to save you thousands.

From awesome free budget apps that do all the money management work for you, online apps that help you save thousands a year, and more.

Now let’s start saving money and get pumped for the well-deserved vay-cay!

16 Ways To Save For A Vacation (Without Actually Going Broke)

1. Plan Early (1 Year Out If Possible)

Saving for a vacation can be daunting, especially if you have a family. But by planning and budgeting early, you can make it happen without breaking the bank.

If you plan ahead and save early, you can often find discounts on travel packages and even earn airline miles or hotel points that can be used towards your vacation. And don’t forget to use cash back credit cards when booking so you can get extra money back to put towards your trip.

2. Set A Savings Goal

Next, set a savings goal. This will help you stay on track and ensure you are saving enough money to cover the cost of your trip.

To set a savings goal, estimate how much you will need to save. This can be done by looking at the cost of flights, hotels, food, and activities. Once you have a total estimate, break it down into smaller savings goals to better track your progress.

For example, if your total vacation costs $5,000, you may want to break down your savings goal into $500 increments to see how close you are to your goal each time you save.

3. Use Budget Apps To Help You Stick To Your Savings Plan

There are many great money-saving apps out there that can help you manage your finances and stick to your savings goals.

Personal Capital is a great free budgeting app that allows you to create unique budgeting plans from your cell phone’s convenience.

You can also use online tools like Mint to create a family budget, track your progress, organize your personal finances, and get frugal living tips on saving extra money.

4. Set Up A Dedicated Bank Account For Vacations

Once you have a savings goal, it’s time to start saving!

One of the best ways to save for a vacation is to set up a dedicated savings account. This way, you can easily track your progress and see how closer you are to your goal.

5. Automate Your Funds To Your Vacation Account

One of the best ways to ensure you consistently save hundreds of dollars for your trip is to automate the income that goes towards your vacation fund.

You can do this by setting up a recurring transfer from your checking account to your savings account. This way, you will never have to think about manually transferring funds, and you can be sure that your savings are continuously growing throughout the year.

6. Try To Find Discounts Everywhere

You can use the Honey browser extension to find discounts.

Honey automatically finds discounts when you are at the online checkout. So when you’re using Amazon, before you check out, Honey can potentially help you gain hundreds of dollars to put toward a personal finance goal!

7. Stop Eating Out (And Buy In Bulk)

Eating out can be expensive, especially if you are on vacation. Instead of dining out every night, try to live within your means and cook some meals in your hotel room or vacation rental.

You can get a lot of extra money by cooking your own meals and eating in. And if you are traveling with a family, this can be a great way to bond and spend time together.

Another way you’re able to save on food while on vacation is to buy bulk. This can be done at the grocery store or local farmers’ market.

By buying in bulk, you spend less on food and have some to take home. For example, you can save up to $200 a year by purchasing yogurt in bulk instead of individually.

And that’s just one item!

Just imagine how much extra you can put towards your vacation fund with a full grocery haul!

8. Sell Stuff You Don’t Use

If you’re like most people, you probably have a lot of stuff around your house that you don’t use. So why not sell it and use the money to fund your vacation?

You can use sites like Bonanza and Decluttr to sell your unwanted items.

Bonanza is a user-friendly online marketplace that makes it easy to sell your stuff. With features like private messaging and live support, it’s no wonder that 50,000 sellers voted for Bonanza’s “Best Overall Marketplace” over eBay, Amazon, and Etsy.

Decluttr is an excellent option if you have old tech lying around. Simply download the app, enter details about what you have, and their team will tell you how much they want for it all.

Selling unwanted items is a great way to declutter your home and raise money for your vacation fund. So why not give it a try?

9. Cancel Unused Subscriptions

Americans are wasting a lot of money on unwanted subscription fees. Maybe you’ve been guilty too?

In fact, according to recent surveys done by Chase, 66% percent or more than half – 56 out 70-of Americans have wasted at least $50 a month a year because they didn’t know their membership was ending soon!

That’s a lot of wasted money that could be going towards your dream trip.

So, how can you avoid wasting money on unwanted subscriptions?

The first step is to take inventory of all your current subscriptions. This includes gym memberships, magazine subscriptions, Netflix, Hulu, and any other recurring fees you may be paying.

Once you have a list of all your subscriptions, it’s time to cancel the ones you no longer use. You don’t need a subscription if you haven’t used a subscription in the past few months.

By canceling unused subscriptions, you can save extra cash to put towards your vacation savings.

10. Utilize Cash Back and Awards From Your Credit Card

The average person who uses their credit card to save money can expect a savings of $757 per year. That’s a significant amount of money that can be put towards your picture-perfect vacation.

There are a few different ways to save with your credit card. The first is to take advantage of cashback rewards programs.

With a cash back rewards program, you can earn money back on the things you already spend money on.

For example, you spend $100 at the grocery store. With a cash back rewards program, you would earn $1 back.

While that may not seem like a lot, it can add up quickly.

Another way to save with your credit card is to utilize rewards points. With a rewards program, you can earn points for every dollar you spend. These points can then be redeemed for travel, gift cards, and cashback.

So, if you’re looking to save, check out Chase’s Freedom Unlimited and Freedom Flex. Then, you can thank me later when you save thousands.

11. Use Travel Credit Cards

If you’re a frequent traveler, using travel credit cards can be a great way to set aside more money.

With travel credit cards, you can earn points or miles for every dollar you spend. These rewards credit points can then be redeemed for things like travel, hotels, and car rentals. For example, the Chase Sapphire Reserve card offers 3 rewards credit points for every dollar you spend on travel and dining.

In the event of numerous enormous travel blunders, a fantastic traveling rewards credit card has your back. On the off chance that your flight is dropped, in some cases, you can get up to $10,000 per ticket to reimburse you for an alternate strategy for transportation.

Also, if you reserve a vacation with your credit card, you may get access to amenities like upgraded rooms, late checkout, free luggage, airport lounge access, and more.

So, if you’re looking for a way to add to your travel fund for your next trip, consider using a travel credit card like Chase Sapphire Reserve.

12. Find A Travel Agent

Travel agents have a lot of experience and know lots of different places to go. They can help you save more on your vacation and ensure everything goes smoothly.

When you use a travel agent, you can ensure you’re getting the best possible deal. Travel agents have access to deals that you won’t find anywhere else.

They also have relationships with hotels, airlines, car rental services, and tour companies. This means they can often get you better deals than you could get on your own.

How do you find one, you say? One word…

Mtrip.

Use, save some cash, and enjoy your trip.

13. Go During The Off-Season (Save Money)

The off-season is the perfect time to travel if you’re looking to save.

During the off-season, hotel stays, airlines, getting a rental car, and tour companies offer significant savings. For example, you can often find hotel rooms for half the price during the off-season.

So go ahead, travel during the offseason, and add hundreds to your travel fund.

(Pro Tip: Use alternativeairlines.com to find cheap off-season tickets.)

14. Use Gifts Cards Instead of Cash

Ah yes… the awesome sauciness of gift cards.

But where would one procure such awesome gift cards?

Enter Swagbucks.

Not only does Swagbucks have an A+ rating on the Better Business Bureau, but they also have a mobile app that allows you to earn points (called SB) by taking surveys, watching videos, shopping online, and more.

These points can be redeemed for gift cards to your favorite stores, like Target and Amazon.

So, if you’re looking for a way to save on your next vacation, consider using gift cards instead of cash.

15. Get A Side Job

Side hustles are the best way to make money now, not later.

But how?

Steadyapp and Fiver.

The SteadyApp is a simple application that helps you discover and filter side activities that are perfect for you. They’ve covered everything, whether driving for Uber, delivering food with DoorDash, or even dog walking.

Fiverr is a platform for small, one-off tasks or gigs like er design work, social media help, and administrative tasks.

So, if you’re looking to save on your next vacation, consider getting a side job with SteadyApp or Fiverr.

16. Sell The Skills You Have

Everyone has skills. You may not be able to spit it out immediately when you think about it, but give it a minute.

Yes, here it comes…

You’re good at drawing, communication, preparing, analyzing, managing, or even Dad’ing.

But how can you leverage that for money?

Enter Skillshare.

Skillshare is a website where you can learn new things and teach others what you know. 

For example, if you’re teaching a class on guitars and people watch 10K minutes, you could earn $1000 or more.

It’s a great way to make extra income and share your talents with the world.

So, if you’re looking to save on your next vacation, consider selling the skills you have with Skillshare.

FAQ

How do I start saving money for a trip?

There are a few things you can do to start saving money for a trip:

• Use a travel credit card like Chase Sapphire Preferred or Capital One Venture to earn rewards points that can be used for travel expenses.
• Use a travel agent to get the best deals on hotels, flights, and tours.
• Go during the off-season to save money on travel expenses.

How much do you save for vacation a year?

The amount you save for a vacation each year depends on your travel goals and budget. However, a good rule is to save 10% of your income for travel. For example, if you make $50,000 per year, you should aim to save $5,000 for vacation.

How much should I save for a 7-day vacation?

A good rule of thumb for saving for a 7-day vacation is to budget at least $100 per person per day. So, for a family of four taking a seven-day vacation, you should budget at least $2800.

Can you open a vacation savings account?

Yes, you can open a savings account specifically for your vacation. This will help you track your savings and ensure that the money is set aside for your trip.

How much should I save monthly for vacation?

If you save monthly for a vacation, it should be $100 a day for the length of the vacation. So, for example, for a 7-day vacation, you save $700 a month. For a 3-day weekend, you save $300 that month.

What is the average vacation budget?

The average vacation budget can be between $500 -$1000 per person per year, depending on if it’s domestic or international.

How do you budget for a trip?

When budgeting for a trip, you need to calculate the cost of the flight, hotel, food, and activities. Once you estimate the total cost, you can set aside money each week or month to ensure you have the correct size vacation fund.

Summary

You’ve now armed yourself with the necessary tools to save up for your dream vacation. Remember, start early and be relentless in your search for discounts. Use budget apps to keep you on track and sell the skills you have to help make your savings account grow. Before you know it, you’ll pack your bags and jet off to a place where sand meets the sea. So go get ‘em, tiger!