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.
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.