Splash! Sun! Sand! Do you wish you saved up for a summer vacation? Perhaps you did save, but it wasn’t enough. Saving for fun things like vacation can be simple. The planning process only requires a few tweaks in your habits and budget. Planning is easy, but consistency will make all the difference. Stick to your plan and don’t let minor setbacks squash your summer dreams!
Here are 5 simple ways you can start saving for summer today:
- Vacation Account: What is a realistic goal within your time frame? How much money do you need for the summer vacation of your dreams? The first step towards success is a separate account. It might be tempting to make withdrawals from time to time. Don’t give in! Keep the funds in your vacation account strictly for vacation only. (Unless, of course, there is an emergency!) Check out Porter Bank for your new account. You can also get more information here.
- Automatic Withdrawals: How much can you comfortably add to your vacation account per month? Would it be easier to have weekly or bi-weekly withdrawals? What day of the week is the best for a transfer? With automatic withdrawals, you will never forget to add to your vacation account. It’s easy to set up and change as needed.
- Change Jar: Have a central jar for the entire family. Loose change is often found in the couch, in the car, and while doing laundry. When you have a central spot for your change jar, you’ll be surprised how it all adds up. You can even add a label “Summer Vacation” as a daily reminder of all of the fun ahead!
- Fun Spending: If possible, budget a little money to spend on weekly “just for fun”. Things like eating out, movies, ice skating, haunted houses, and other adventures that are fun but have a price tag. You surely don’t want to save every last fun-penny for one summer vacation! However, can you reduce the amount you spend on little extras? For example, cut out the trip to the restaurant for a picnic on the beach. Another example, instead of going to the apple orchard, perhaps a easy stroll through trails like the ones at Coffee Creek in Chesterton to see the leaves change.
- Side Gig: Do you have any time to spare for a side gig? No matter how much or little time you have to earn some extra cash, a side gig could pad your vacation account! Check out independent contractor opportunities like, Instacart, VIPkid, and Uber. There are also listings on job sites, in the newspaper, and even Craigslist. A little bit goes a long way and even an extra few hundred dollars could help your vacation fund! However, you don’t need to overwork yourself. With a great strategy, you won’t need hundreds of extra side-gig hours that could add too much stress.
With your separate account, changes in fun spending, centrally located change jar, automatic withdrawals, and side gig, you are set for a great summer vacation. Please share this article with friends and family who might benefit from these tips. Also, don’t forget to check out Porter Bank by clicking HERE to begin your savings journey.