Many families dream of taking a once in a life time trip to the most exotic, romantic, exciting, or relaxing places. The one thing that keeps more people at home is the cost of these dream vacations, but it does not have to be that way. Here are some helpful tips that can make saving for your bucket-list vacation easier.
Set your daily budget
Without a budget in mind to govern your day to day spending, how can you save up for a dream tip years down the road? It is next to impossible, so you must have a strong budget in place that you adhere to week by week. Closely and honestly examine your finances, see what you can cut off as far as the wants go, take care of the needs, and put as much as you can towards your vacation savings. Daily savings of a few dollars can add up to a nice vacation budget in a few years.
Research your destination
Ensure that you know the destination you have chosen for your vacation so you know what to expect as far as costs go. This is especially true of foreign destinations that have a different currency as exchange rates can really alter how much money you have to work with once you arrive. Think about room and board, foods, travel, attractions, souvenirs, and other expenses that you will incur and then figure out how much you will need to have on hand. Be sure to over budget so you can cover miscalculations or additional expenses that might arise.
Boost vacation income
Putting pocket change towards your vacation is one way to save but it can take a long time to reach your budget goal. Boost that vacation income by going through your home and selling items you do not want and need on sites like Ebay and Amazon and CraigsList. Pick up a side job, hold a yard sale, sell some crafts, or find other ways to bring in a little extra income that goes straight to the vacation fund. If you have kids, ask them to help with their expenses and spending money by babysitting, mowing yards, washing cars, and doing other jobs for friends, family members, and neighbors.
Save every single day
Many people bleed out their savings every day without realizing it. We spend $5 on a coffee, $8 on fast food lunch, and $20 on a new DVD. They dont seem like much at the time but when you add these little expenses up every day, then every week, and every month, you could be spending hundreds of dollars on these ‘little’ purchases. Try to cut back on these small budget killers and limit frivolous spending. You can still have fun and enjoy yourself, just be mindful of where your money is going and how much you are actually spending each and every day.
Stay inspired
During the long saving struggle, it is easy to become frustrated and disheartened and to feel like giving up on that dream trip. Staying inspired is key to making that savings goal. Social media sites are a great way to stay inspired day to day and month to month. Pin photos of your dream site on Pinterest so you can be reminded of what you are working towards, keep your Facebook and Twitter followers updated with your progress, and keep track of informative facts and photos and details that are as useful as they are motivating. Get the entire family involved and you can help encourage each other through the saving process.
Saving for a dream trip for you and the family is a big undertaking, but it does not have to be an impossible struggle. With these tips in mind, you can begin the process of saving away and sooner, rather than later, you can be enjoying that once in a life time trip!