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Tips On How To Save For Travel

June 16, 2017

Tips on How to Save For Travel are always timely right?! Don’t put off that family vacation! I have a few easy (yes – easy) tips to help you save for your next trip.
Beach, vacation, water

How To Save For Travel

Pause on lattes. That everyday latte from your local coffee shop costs you $3.65. That adds up to over $100 per month. Make your own latte at home and take it in a reusable, thermal, bottle. $100 instant savings to go into your travel fund. And need I mention…that sum becomes $1,200 a year…which is nice addition to any vacation fund.

Research and budget. I am already planning an all-inclusive family getaway for next winter. Planning now means I can research destinations, amenities, travel options, and high and not-so-high seasons.

Involved the whole family. Instead of the 5 of us going to the movies (which can be expensive for 5 admissions + popcorn), we subscribed to a more budget-friendly monthly streaming service. We can still watch movies (just cheaper). And instead of getting tickets to a professional soccer game…we go to the park and play soccer together. These are little ways you can still enjoy entertainment together while saving money for your family travel plans.

Set up a dedicated travel savings account. It doesn’t have to be a “travel account” per say. Any savings account will do. But if you put it in your mind that the savings account is for travel — you will be less inclined to dip into it for other reasons. Moreover, set up your dedicated account with a bank willing to offer more bang for your buck! EQ Bank is a digital bank that allows a seamless online and mobile banking experience, be it from your home or phone, and with their Savings Plus Account, you’ll earn 2.3% interest on your money (yes, that’s the current everyday rate!). This video (click link) shows how easy it is to set up your Savings Goals with EQ Bank.

 

And when it comes to saving for travel…you have to DO IT. Stop wishing a vacation. Make it happen. Take to heart the tips above and put a little bit of money, every month, into a travel savings account. Think about where you have to go (visit a relative in another city?), where you should go (visit a city in Canada you’ve heard good things about) or where you want to go (Hawaii anyone?!).  Research how much you need, how to get there, where to stay, what to do…and that’s the starting point for your travel budget. Add in food and expenses (shopping, museums, attraction admissions). Then, start putting away the money you need to make it all happen. The best vacations are the ones you plan for!

As a special treat for my readers to get your summer travel savings started, new accounts opened have the chance to win one of 10 $150 deposits into your new savings account! That’s helpful for vacation saving.

Recommended hashtag: #EQBSummerSavings

Disclosure: #ad This post is in partnership with EQ Bank. As always, opinions are my own. 

SHARE: How do you save for travel? #EQBSummerSavings

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Reader Interactions

Comments

  1. Kristen (@My3LilKittens) says

    June 19, 2017 at 3:36 pm

    Funny how things start to add up so fast that we don’t even think about …like lattes! Thanks for these fabulous tips!!

  2. Robin Rue says

    June 19, 2017 at 3:37 pm

    I get a coffee from Dunkin Donuts every day. I never thought of how much that added up to over time.

  3. Connie says

    June 19, 2017 at 3:55 pm

    These tips are great. Taking family trips is so important. Memories are better than lattes any day.

  4. Tara says

    June 19, 2017 at 4:54 pm

    Having a savings account just for travel is a great idea. We take at least one family vacation each year.

  5. Meagan says

    June 19, 2017 at 5:36 pm

    I like your idea of involving the whole family! Sometimes I get so wrapped up in things, I forget our trips are for the kids!

  6. Stacie @ Divine Lifestyle says

    June 19, 2017 at 5:37 pm

    A savings account for travel is crucial if you ever want to actually travel. We have one, and it’s been a huge help.

  7. Vera Sweeney says

    June 19, 2017 at 5:39 pm

    These are awesome tips! We do our best to be frugal with our money in a lot of aspects of our lives so that we can take the trips we want to take.

  8. Liz Mays says

    June 19, 2017 at 7:21 pm

    Setting up a travel savings account should make a huge difference. You really do have to start seriously putting money aside so your vacation becomes more than a wish.

  9. Jeanette says

    June 19, 2017 at 8:13 pm

    I love to travel! I like to play the game of “I want to go there how can I do it cheaply!”. I do all these things already, but I am glad to see that I am on the right track.

  10. Sarah says

    June 19, 2017 at 8:20 pm

    My favorite way to save for travel is to open a travel rewards credit card with a high bonus points offer (Chase has some great ones). Then you can automatically start putting money aside, including the money earned from those points by making your purchases using the card up until the time of your vacation. If you pay your balance off each month, there is no interest charge, and some reward you with 5% back or more on every purchase.

  11. Amy Desrosiers says

    June 19, 2017 at 10:02 pm

    We try to save on store bought coffees by using our Ninja. We use to spend way too much of coffee shops treats!

  12. Jeni says

    June 19, 2017 at 10:04 pm

    I try to save money for vacation by doing the double penny rule. The first day you put one penny away, the second day you double it, the third day you double that, and so forth. It’s amazing how much money you can end up with.

  13. Claudia Krusch says

    June 19, 2017 at 10:14 pm

    It is so easy to bust your budget when you are traveling. I always do a lot of research and try to plan out all of our stops for food.

  14. Elizabeth Lampman says

    June 19, 2017 at 10:15 pm

    I am always looking for ways to save while I am on the road. I try to pack as much food and snacks as I can to avoid stopping for takeout.

  15. Jenn Mitchell says

    June 19, 2017 at 10:46 pm

    Travel is definitely more possible than a lot of people think, even if you are on a budget. These are some great tips!

  16. Nellie Blazina says

    June 20, 2017 at 12:57 am

    Family vacations are so important. Building those life long memories make all the difference in your kids. Thank you for the Fabulous tips.

  17. Jennifer G says

    June 20, 2017 at 9:15 am

    Family vacations make such fabulous and amazing memories. I can’t wait to go one one this summer. We always have such a great time.

  18. briannemanz says

    June 20, 2017 at 9:21 am

    Traveling is the best especially in the summertime! These are great tips to stay safe!

  19. Ali P says

    June 30, 2017 at 12:31 pm

    I’m also planning an all-inclusive for next winter with the kids. And I do everything you do. 🙂

  20. Corry L. says

    July 25, 2017 at 10:19 am

    Travel is my passion! I will scrimp and save whatever I can to be able to see as much of the world as possible! Thanks for the great tips!

  21. Tammi Litowitz says

    August 4, 2017 at 2:51 pm

    I put all of our change in a jar… it’s crazy how fast that can add up!

  22. Corry L. says

    October 18, 2017 at 10:36 am

    My favourite hobby is travel! Thanks for the tips!

  23. CalviN F. says

    November 2, 2017 at 2:30 pm

    Nice way to save toward a dream trip!

  24. aliyadaya says

    November 2, 2017 at 9:22 pm

    Good, common sense tips. I gave up coffees and lattes almost two years ago and calculated that I saved over $2,500. That is a vacation right there.

  25. Tori says

    November 13, 2017 at 8:38 pm

    Thanks for sharing your tips. Im always looking for more ways to save for a vacation!

  26. Lori a Galbraith says

    November 15, 2017 at 11:06 pm

    All your tips are very good, I like to save over the year for a holiday and planning wth the family makes it so much nicer.

  27. Travelbuds says

    December 7, 2017 at 4:29 pm

    Great tips. As a single mother I have had to do some of these just to make ends meet…ie no coffee shops for me. My 2 kids and I get a vacation every year but we got camping and go to visit my mom. Someday though I want to save up (if I can) and take my 2 kids to Disneyland.

  28. Nate says

    December 15, 2017 at 8:49 pm

    I need to start saving for my summer vacation, thanks for the tips

  29. LisaM says

    December 30, 2017 at 9:43 am

    I named one of our savings accounts “Saving for X” It’s amazing how hard it is to take money out of that account!

  30. Silvia D says

    January 15, 2018 at 3:15 pm

    Great tips! We have a hard time saving or putting money away for a trip! Will use some of the ideas for sure!

  31. Heather Swanson says

    March 10, 2018 at 6:15 pm

    I love saving money every day

  32. Ali P says

    April 19, 2018 at 3:57 pm

    Love these tips! We always save up for a family vacation. 🙂

  33. Debbie White-Beattie says

    August 31, 2018 at 12:43 am

    I’ve always saved my loonies and twonies plus points for travel

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