If your family plan is to travel and see more of the world this year, we have a few fabulous tips to help you along the way. You can start saving today, tomorrow, three or six months from now. Just Start Saving!
Create a budget and a savings timeline.
After you’ve decided where you want to go and have done a little research on pricing (add 25% for price fluctuations), decide how long you will need to save that amount before you need to book the trip.
Open a ‘vacation fund’ account.
Some credit unions actually have accounts called ‘vacation fund.’ Or, you can always open a savings account and nickname it ‘vacation fund’ in your online settings. ** Do not obtain a debit card for this account. This will help you avoid the temptation to withdraw from this account. **
‘Treat it Like a Bill’
Include the specified amount you need to save each pay period in your budget. Set-up automatic deposits from your pay check to help you achieve your goal.
Add any extra money to the goal.
If you earn bonuses at work or work part-time, add that money to the ‘vacation fund’ account so you can achieve the goal even faster. The quicker you save, the sooner you’ll be on vacation.
Get the family in on the goal.
It’s a family trip that each member will enjoy so they should also help save for it, right?! LOL Make it fun for the kids, open a lemonade stand in the neighborhood (if you have pre-teen kids) with all the earnings going to the ‘vacation fund.’
Saving for your family’s dream vacation doesn’t have to be an overwhelming chore. Make a plan, stick to it and before you know it you and the family will be leaving for that special destination.
The key is just to start saving! You can do it, get started today.
BMWK – where is your family planning go on your next family vacation? Tell us about your favorite family vacation.