Family vacations can break the bank, but we don’t have to let that happen if we strategize, prioritize, and save-itize (is that a word?!). I like to break things down, especially goals. Instead of looking at the BIG goal and thinking “there’s no way I’ll EVER get there”, break that big goal down into smaller chunks!
For instance, say you want to save $3000 for your family vacation. I’m being tight there, but that’s the frugal side of me coming out. I could have a rockin’ good time anywhere for $3000! So, that sounds like a lot but if you break it down into weeks, that means you only need to put back $62.50 per week. There are a few ways to do that.
Ways to Save for Family Vacation
1. Start an automatic savings program. This is a great way to save back without really even missing anything. These programs are perfect for other things you’re saving for too…not just vacations. It’s a great idea for retirement, home repairs, or just a rainy day fund.
2. Sell, sell, sell. Instead of dropping off your gently used items at the donation center, sell them on eBay or Craigslist or even the community yard sale. This could be houseware items, clothing (kids clothes sell on eBay really well), toys, collectibles, etc. You should even consider buying things to re-sell online to make some extra cash. Put back 100% of the cash for your fund!
3. Spend less on holiday gifts. We spend a lot at Christmas and throughout the year for other holiday gifts. Cut your gift spending budget and put the extra money back. Let the kids know that this is the plan so they don’t feel “ripped off”. They might gripe a bit, but less IS more and when they’re laying on the beach or playing in the ocean months later – they’ll be thankful!
4. Change jars. Everyone has a change jar. Keep sticky fingers out of them through the year and let the change in the jugs get deeper and deeper. We even throw bills in. Sometimes $1 bills, even $5 and $10 from time to time. You’d be amazed at how much is there in a years time.
5. Change your normal spending budget. We all know what we spend too much on. Morning coffee and donuts, fast food, weekend shopping, or our QVC addiction (haha). We all are guilty of overspending in more than one area from one week to the next. Next time think to yourself, “Dunkin Donuts for breakfast or a week on the ocean?!”. Suddenly, coffee from home and a bowl of cereal looks SO much better, right?! Little decisions like that on a daily basis can make a difference in our savings accounts in a year!
Do you have other tips you use to help your family save back money for your vacation fund? We’d love to hear how you do it!