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Ways to Save for an Unforgettable Summer Vacation

By In Personal Finance On March 28, 2017


As winter comes to a close, you might be thinking about where you would like to go on a summer vacation. If you haven’t already thought of an ideal destination, you still have some time to save. Here are a few suggestions to help you cure the travel bug and start planning your next trip.

Cut Back Other Expenses

Find ways to allocate your budget to travel. Instead of going out for coffee, consider sticking with the office coffee pot or making a cup at home. If you have a gym membership, see if you can find a better deal or complete your workouts from home. Little things like this can add up over a few months.

Find a Place for Your Spare Change

This is a great first step when starting a vacation fund. Think of the spare change you can accumulate from your morning cup of coffee or from lunch. How much can you save in just a couple of months? The amount you save could potentially cover one night’s stay in a hotel, or the cost of a rental car.

Set Up a Vacation-Specific Savings Account

Shop around for a bank that offers low-fee or no-fee savings accounts and consider ones with higher interest rates. In addition to banks with physical branches, you may consider online accounts from companies such as Ally or American Express.

Traveling by Air? Use Social Media to Your Advantage

You‘ve probably heard rumors about the best days to buy airline tickets, and what airlines offer the best deals. It’s always good to be able to compare prices. Follow Airfare Watchdog (@airfarewatchdog) and SkyScanner (@Skyscanner) for airfare alerts to both domestic and international destinations.  Also, consider following your favorite airline on all social platforms as they may offer exclusive deals to their social media followers.

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