Creative Ways to Save for Your Summer Vacation

In order to keep a roof overhead, food on the table, a car in the driveway, and other needs for yourself and your family… you work hard! All of that effort deserves an occasional break. Most of us call that a vacation! 

But with the cost of everything rising - from the grocery store to the gas pump - how can anyone afford time off? By getting creative with how you save money, you might be able to swing some downtime more easily than you think.

Let’s explore some opportunities to get you and your family the break you deserve.

Saving a Bit at a Time

If setting aside a few thousand dollars seems like an impossible task, try breaking that goal into smaller, mini-goals instead. For example, you can set aside money each week, or each pay period, in order to squirrel away some money to enjoy later. If your employer lets you direct deposit into multiple accounts, put $50-$100 from every paycheck into a “vacation” account. You probably won’t miss that small amount, each pay period, and the funds will quickly build up. 

If you aren’t sure where to start, select an ideal time on the calendar for your next trip or break. Count up the number of paydays between now and then. Estimate the cost of your adventure. Divide that cost by the number of pay periods. This will give you an approximate amount you’d need to put aside for your trip.

Book Early and Save

Procrastination can cause many troubles in life. One problem arises when you are booking your vacation. If you wait until the last minute, you’re bound to pay more.

To find the best deals, you want to give yourself enough time to search around. Locating the best prices generally doesn’t happen on the first go-around, but instead may require you to do some digging.

Additionally, booking early allows you to typically pay less. Think of basic high school economic lessons. The more demand, the higher the cost. As fewer seats are available on the plane, the price will increase. There has been a demand, and if you’re waiting until the last minute, you’re going to pay for it.

Of course, some airlines and hotels deeply discount prices at the last minute, but counting on deals so close to your vacation date can be risky.

How to Find Vacation Deals

Another great way to save for a vacation is to find the best deals. From seasonal sales to online tools, you can use a few great tips to help you save a buck, making saving up a bit easier on the pocketbook.

Some helpful tools that may help save on your bottom line include:

1. Online Booking Sites

If you’ve ever planned a trip, it is likely that your search engine showed you sites like Kayak, Expedia, TripAdvisor, Travelocity… the list goes on and on. The benefit of sites like these is discounted rates, tons of filtering opportunities, and the ability to search multiple options with just a few clicks. And if you have a warehouse club membership (Costco, Sam’s Club, etc.) check into discounted rates through your membership. 

2. Travel Agents

To save money as well as the legwork of finding deals yourself, hiring a professional travel agent could be the way to go. Many great travel agents do not charge for their services (or the fee is minimal) and are instead compensated by commissions from the locales. Many travel advisors specialize in certain kinds of travel - like Disney, cruises, European tours, etc. These agents may have access to discounts that the average traveler cannot see. They also are experts on the best seasons to travel, where to visit (and what to skip), and how best to save. This article covers the pros and cons of booking with a travel agent.

3. Bundle Your Trip

No matter how you book your travel, you can save by using the same service for all parts of the trip. For example, if you use the same website to book your flight, hotel, and rental car, bundled pricing is sometimes available.

4. Get Savvy with Credit Card Points

Using a credit card wisely means paying off the balance every month. If you’re able to do so, it’s smart to use credit cards that offer points, and then you can redeem those points to pay for travel costs. When you put your cost of living expenses on your credit card (food, gas, clothing, etc.) you’re not spending any more than you normally would - so why not gather points toward a vacation? You can also tap into rewards programs with airlines.

Save with a Side Hustle

Many full-time professionals still find it tough to set aside enough money for a vacation with their base salary alone. Consider supplementing your income with a side hustle to pay for things like vacations. 

For many of my teacher clients trying to save, I recommend sites like TPT, or Teachers Pay Teachers, which allows educators to sell their lesson resources for profit. This often doesn’t require much additional work on your part, but can bring in some extra cash.

Consider turning a hobby like crafting into an Etsy store or make the craft show circuit. Maybe you can teach an online course in the evenings. Plenty of schools and even colleges hire teachers to teach remotely!

Where There’s a Will …

Yes, there can be a way! If you are determined to take a vacation this year, start with some steps in saving today. From traveling on a budget to saving for the most extravagant adventures, if you’re determined to go on vacation this year, you can absolutely find a way to make it happen. 

If you need any assistance in setting up ways to save your money or plan for your financial future, feel free to schedule an appointment with my office.