Saving for Summer Vacation

As school draws to a close, it is high time to start thinking about Saving For Summer Vacation. If you haven’t begun a Summer Vacation savings program yet, you still have time to put aside money to help pay for a great trip for your family.  A summer vacation doesn’t have to be a month long road trip. It can simply be a weekend getaway, or a few days of staycation with your loved ones, don’t feel pressured to break your budget by planning epic Summer vacations every year, for most people that’s just not possible. These Summer Vacation Savings tips and savings estimators, however, can help you find wiggle room in your budget and save money for a Summer Vacation that your family will enjoy.

Saving For Summer Vacation Tips

          Tip 1 -Downsize monthly expenses

This can be a great way to create savings for many families. If you already find you do this on a regular basis, then it may not help much. Don’t forget there is always time to evaluate and change things up a bit to make more room in your budget.

• Brown bag lunches – Average savings $60.00/month
• Skip date nights out – Average Savings $100/month
• Don’t update your Spring/Summer wardrobe
• Drop cable or satellite television – Average Savings $60.00/month
• Evaluate insurance policies – Average Savings $20.00/month
• Use Coupons or Menu Plan around Sales – Average Savings – $100.00/month

          Tip 2 -Save your change

Do you remember those large change jars from childhood? If so, go back to the old method of saving loose change. If you don’t use cash to make purchases, start rounding up your purchases to the next dollar when putting into your bank register. You will build a buffer into your account that can then be transferred into savings each month. See if your bank offers keep the change programs for added savings  – Potential Savings $20.00/month

           Tip 3 -Have your paycheck direct deposited

If your paycheck is direct deposited, request that they set aside $25-$50 per pay period to automatically be put into your savings account. You can do this with your employer, or directly through your bank. Some credit unions even have Summer Vacation Clubs Savings programs which make saving for vacations easy.  This savings strategy will become a habit and you won’t think about the loss of money each week. This can quickly add up to a sizable vacation budget when you are saving for summer vacation. – Potential Savings – $500

           Tip 4 – Change credit cards

If you are like me you put everything onto a credit card and pay off the balance each month.  That’s because ourcards give us benefits like cash back and travel rewards.  We rack up points towards free airline tickets, free hotel stays and even cash back.  You can easily pay for your entire Summer Vacation by simply changing your credit card provider or program.  – Potential savings $1000-$200

Tip 5 – Flash Sale Sites  

Flash Sale sites like Groupon, Living Social and Travel Zoo offer fantastic discounts on travel to places your family actually wants to go to.  We’ve seen deep discounts on hotel rooms, All-inclusive resorts and even some theme park destinations like LegoLand and Great Wolf Lodge.  Your kids will love the Summer Vacation destinations and you will love the huge savings.  Decide early where you want to go and keep an eye peeled for when those destinations go on sale. – Potential Savings -$500-$1000

So how much could you save for Summer vacation implementing our 5 Summer Vacation Savings tips – Over $3,000! When it comes time to begin saving for summer vacation, you just have to set goals and stick with them. Sometimes those goals will be small, but being realistic is a big part of your success in everything. Understand what you can manage, then make it happen to provide your family with a great summer vacation this year.