![Vacation.jpg.jpe Vacation.jpg.jpe](https://berkscountyliving.com/downloads/6502/download/Vacation.jpg.jpe?cb=be711f3eaf18bfe0a41bfdd22749d89a&w={width}&h={height})
Summer is winding down. While you’re recovering from this year’s vacation or getting ready for one last summer hurrah, you probably aren’t thinking about next year’s vacation, but you should be. According to a 2013 American Express survey, Americans spend an average of $1,145 per person on a vacation, meaning the average family of four spends nearly $5,000 on a getaway. With costs like that, the earlier you start saving, the better. Here are some fun tips to save money for next year and even get the kids in on the saving action.
Lower the cost of your vacation.
A simple way to make saving for vacation easier is to make your vacation less expensive. You can cut costs without sacrificing where you want to go and what you want to do. For example, pack snacks for your drive and your hotel room so you don’t have to buy them on your trip. Also, renting a condo or apartment, or even staying in an extended stay efficiency hotel, may be more cost effective in the long run because you can cook your own meals instead of going out to eat all the time.
Look for coupons and other deals.
With sites like Groupon and Living Social, you may be able to find deals on vacation activities and day trips. Also, local municipalities, municipal organizations, and even public libraries may offer coupons for activities or reduced-rate group trips. And don’t count out meeting with your local travel agent. He or she may be able to find cost savings you can't track down on your own. After all, they’re the experts, and using their services costs you nothing.
Save your pennies…literally.
Whenever you have spare change, toss it into a savings jar. Tara McQuillen, director of marketing for Discovery Federal Credit Union in Wyomissing, says having a see-through “Vacation Savings” jar is a great way to save money and a fun way to get kids excited about and involved in saving. They can decorate the jar with a vacation theme, and they can watch the savings grow. If you don’t have a see-through jar, McQuillen suggests getting creative and letting the kids decorate a box or any kind of container.
Load those gift cards.
Buy reloadable gift cards for your kids to save money for spending on vacation. Ask them if they want actual birthday presents, or if they want you to put that money on the gift card to spend on vacation. You can also give them the option of getting half of their allowance now and putting half of it on the card for later.
Pay yourself at checkout.
Most stores have the option of using bank cards as either debit or credit cards. Use your card as a debit card (if you can do that without being charged a fee) and get a little cash back to stash for vacation with each store trip.
Research what your bank offers.
Banks may offer options other than a traditional savings account. According to McQuillen, “Many credit unions and banks will let you create a sub-savings account under your main account…and set up automatic transfers to this account from your main savings or checking account.” McQuillen adds, “Many financial institutions also offer their members/customers a skip-a-payment option on their current loans. Research your credit union or bank loan to see if you can skip a payment on your loan for one month and put that money towards your vacation.”
Keep paying your loans.
When you finish paying off a loan, don’t spend that money you used to pay each month. You’re already used to not having that money to spend, so save it to use for vacation.
Set regular savings goals.
Whether you do the 52-week challenge that has been circulating around the Internet recently (you put aside the number of dollars for each week of the year; i.e. you put away $1 the first week, $2 the second week, $3 the third week, etc.) or modify this challenge to fit your own pay schedule and budget, setting regular savings goals – and sticking to them – will help cover vacation costs.
Save what you save.
Did you budget a certain amount of money for a shopping trip and then clip coupons and spend less than your budgeted amount? Or did you stumble across a great sale that saved you money you were expecting to spend? If so, put the money you saved aside for vacation. Most stores print your savings on the receipt, so it’s easy to figure out how much money to set aside.
Don’t rely on high interest credit cards.
If you don’t get to save enough – or any – money for vacation, don’t use high interest credit cards to cover the costs. McQuillen says there may be cheaper options: “Some financial institutions offer a special 12-month low interest vacation loan option or a lower interest personal loan.”