You have worked so hard over the years, and you have never taken a week or two weeks off to vacation. You don't have a lot of savings, so a dream vacation for you can be seen as nearly impossible. However, if you adjust your spendings and make a few sacrifices, a dream vacation is entirely doable.
Watch this video with five tips on how to save money for your dream vacation.
1. Determine the Cost of your Vacation:
I recommend to compare prices from flights to hotels in various travel platforms like kayak.com or expedia.com to be able to pick a reasonable time to travel; off-season travelling equals great deals and discounts on vacation packages. Be very flexible with time. Booking overnight flights, or with several layovers can make you save a lot of money. Remember: If you think you might be spending $3,000. You have to save $250 a month. If you commit to saving money on a weekly basis, your contribution is more manageable.
2. Avoid Unnecessary Spendings:
Take your lunch and coffee to work If you buy lunch or coffee every day; you are spending around $10 a day, and that's like $50 a week. Instead, you can add this spending to your vacation savings. Evaluate all the services you have. Maybe you can cut on some additional costs on you phone or cable bill.
3. Apply for a Credit Card with a Rewards Program:
Cash-back rewards program or offers airline miles are the easiest and best methods for making your dream vacation affordable. Use your credit card for everyday purchases, such as groceries, gas, and even utility bills. The more you use your credit card, the more cash you earn. Not only do you have the luxury of receiving bonus miles, but you will also receive exclusive benefits such as boarding privileges, free first checked bag, and discounted in-flight purchases. Different credit cards will offer you airline miles, but you would be wise to find the one that provides the most bonus miles as well as having the lowest annual fee.
4. Get Rid of Old Junk: Think about starting a garage sale, post your old stuff on Letgo, Amazon or eBay. You can sell stuff you don’t need anymore. Without even thinking about it, you will be earning money on things you wanted to give or throw away.
5. Keep Your Tax Refund:
Your tax return can be a considerable fund that could help you achieve your goal and get to your destination sooner. Make sure you save that money for your vacations so you can enjoy your dream vacation without any worry!