Travel budget concept. travel money savings in a glass jar

Creative Ways to Save as a Family for Vacation

Have you always dreamt of going on a family vacation without worrying about if you’ll have enough money or not? Planning a vacation is supposedly a stress-free period of recreation and relaxation, but creating a little getaway with your loved ones can sometimes be stressful–especially with all the financial preparations that need to be considered. Worry no more. Here are some creative ways on how to save for your dream family getaway:

Plan Ahead

To be able to track down your vacation expenses, you need to plan ahead. You need to choose the dream destination where you can spend some leisure time with your family. According to AAA, more than 1/3 of Americans will have a family vacation this year. This means, more challenge in finding the perfect place to stay during your family vacation.

Your plan must, of course, also include the date of the vacation. It is suggested that vacation takers should consider having their vacation during the off-season. As one family, you should try and make decisions together.

Let everyone consider the options and finalize your decisions in choosing the best place that you find most fitting to your budget. This way, you can share memorable moments without hurting your budget.

Do a Quick Location Search

With a destination in mind, you need to do a little location research before going through the entire planning process. You need to consider the place, the food, the scenic views and most especially, the cost of living where you’d like to recreate and relax for a planned getaway.

Consider planning a trip to an family friendly all-inclusive resort, where the whole family will have something to do. Plus, you pay for everything up front, so you know how exactly much you will be spending. If you are looking for a romantic getaway with just you and your partner, you might consider an adults-only resort, where there are no children, and more intimate activities.

If you catch some great finds with the travel expenses, but you are at risk to spend more on food and accommodation, try to reconsider and choose another place to stay with your family.

Make a Budget Plan

Vacations are costly. A typical US family spends about 44% of their travel funds on a vacation. Once your dream destination is finalized, you need to take some steps to save. You should create a budget plan and make sure you strictly follow this to increase the chances of saving more and spending less. You can start by cutting down on your daily expenses and completely stick with the entitled budget or allowance allotted to spend for the vacation.

Keep a Journal of Your Income and Expenses

Keeping a financial journal on hand during your payday is not a bad idea. You can write down your monthly income, record all your payables, and find a way to sort your expenses and decide to let go of the unnecessary ones. Becoming a little frugal with your money can be the best way for you to save more and spend less. The last thing you want to do after vacation is come home to a maxed out credit card and spend a significant amount of time rebuilding your credit.

Start Saving a Particular Denomination

To make your family trip happen, you need to start saving once your budget plan is complete. Try saving all or some of your 5’s, 10’s, or 20’s. It helps to have a particular denomination, just like having a piggy bank to save up for your planned vacation.

You must be disciplined in saving money and strictly leave a particular amount per day to increase your vacation budget. By doing such, you are heading toward the best family vacation of your life by worrying less about spending money to sustain you and your family during the entire trip.

Cut Down your Daily Expenses

You need to help yourself when it comes to saving money for that dream vacation you’re looking forward to. Cutting down your daily expense may mean refraining from spending too much on food and leisure.

If you need to give up your daily dose of a coffee or latte, do so to save up. If you need to cook your food instead of dining out, that can also be a great way to save your money. Do your best to discipline yourself to save rather than spend too much.

Start to Grow your Own Veggie Supply

Another way of spending less on your monthly food budget is having your own food supply. Growing your own veggies at home can relieve your budget from purchasing it for food preps and ingredients.

Rather than buying salad greens at the market, you can easily pick your choice of greens from your own garden. This way, you can both stay healthy and save some money at the same time.

Look for Great Deals at the Store

It won’t hurt if you purchase frozen meat at the market for a lesser value than that of the fresh finds. Just make sure that the meat you choose is still of edible value. You don’t want to put your health at risk just by being a little thrifty with your meals.

Find Ways to Increase your Cash Flow

You can think of creative ways to increase your income by selling used items, clothes, and household stuff, or even having a garage sale during the weekend. If you have some stuff that you don’t use, or clothes that you don’t wear anymore, you can start selling them to aid in saving more for your planned family trip.  

Try Opening a New Bank Account for Vacation Savings

To make sure that your added income and vacation savings is secured, you may consider opening a new bank account just for the purposes of safekeeping your vacation budget and allowance. In this way, you can also earn a little more through bank deals that may help accumulate your monthly savings until the time you need to spend it.

Relax and Have Fun

Taking a vacation can be stressful, but knowing that you have enough money saved up can alleviate some of your worries. You want to have the most amazing time with your family and loved ones while you’re on your trip. Consider one or several of these ways to save money and you will be happy you went through with it.