How to: Save Up for a Vacation

Save Up For Vacation

Are you already dreaming of the perfect 2018 vacation? Here’s how to save up to get the biggest bang for your buck.

Before you start planning

1. Open a vacation bank account

An easy way to save for a vacation is to open a dedicated savings account just for your vacation. You can even set up automatic payments to make sure money gets put into the account. An interest-bearing account may even grow your money while you’re planning your trip. While you can set up an account at your local bank, an online bank may make it easier to not dip into the temptation of using that money on something other than your vacation.

2. Cut back on monthly food spending

Look at what you are spending each month on food. Save money on these costs by buying food in bulk, shopping at a farmer’s market, or planting a garden in your backyard! Additionally, look at what you are buying. Extra items, such as soda or ice cream, can be left out of the cart for now.

3. Pick up a side job

One easy way to get extra money for a vacation is to pick up an extra job. Be it something more traditional, like babysitting, or otherwise, such as becoming an Uber or Lyft driver, extra money is always welcome! You can also consider short-term work opportunities. Around the holiday season, many retailers are looking for seasonal workers to help with the extra demand. During the summer, consider getting a job as a lifeguard or camp counselor.

4. Spend less on your workout

Do you want to get in shape for your vacation? Instead of paying for an expensive gym membership, consider trying cheap or free alternatives instead. Find a fitness-focused YouTube channel, look for workouts on Pinterest, or find other similar sites online. If you work out better in a gym environment, look for deals on memberships and classes on sites like Groupon.

While you’re planning

1. Book your ticket the right day

Many seasoned travelers may tell you the best day to purchase plane tickets is on Tuesday. However, that is not true! The cheapest fares for domestic and international economy flights were booked on a Sunday. In contrast, the most expensive day to book flights is Friday. For the best fares, book your flight more than 30 days in advance.

2. Fly cheap days

For domestic flights, the cheapest days to fly are usually Tuesday, Wednesday, and sometimes Saturday. International flights typically are cheapest to fly on weekdays instead of weekdays. Nevertheless, be sure to check prices on other days to see if your trip will be the one to break away from the norm!

3. Fly cheap times

Traveling at dawn and during the lunch or dinner hour is often cheaper than flying at another time.

4. Fly cheap routes

Most times, non-stop flights are more expensive than those with connecting flights. In fact, connecting flights can be as much as 50% cheaper than non-stop ones.

5. Fly with fewer fees

A few larger airlines are bringing food back into their economy class on long-haul flights. If your plane has no free food, save money by bringing your own snacks from home on the plane. You can also consider bringing just a carry-on for your vacation. In addition to being free, they stay by your side during the whole flight, so you don’t have to worry about them getting lost.