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You are here: Home / personal finance / How to Save Now for Your Summer Vacation

How to Save Now for Your Summer Vacation

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By Teresa

Last updated on June 24th, 2020 at 11:28 pm

how to save now for your summer vacation

I know it may be difficult to think about summer vacation while it’s cold outside, but there are so many great ways to save money over time. If you start right now you can save plenty of money to spend on a summer vacation or supplement your already-established vacation fund. Whether you like to set aside one lump sum or slowly build up your funds over time, there’s something on this list for you. Everyone has success with saving money in different ways, so feel free to pick and choose, and find a combination of plans that work best for you. These tips will help you save now for your summer vacation.

Save Your Tax Refund

Many people count down the days until they can claim their tax refund. If you already have that money spent in your head, maybe this is not the plan for you. When tax season rolls around, and you file for your refund, you may get some money back from taxes paid throughout the year. Try using a free tax calculator to estimate how much your refund will be. If you don’t already have a plan for that money, consider setting a portion of it aside for your vacation fund. This can be a great time to set up an account, and get started with saving now for your summer vacation. One lump sum at the very beginning can really be a motivator to keep going in order to reach your goals!

The Penny Savings Plan

Everyone can find pennies…usually when we are digging for quarters or dimes. If  you can find pennies each day, you can save as much money as you’d like. If you start out by saving just one penny on the first day, by the end of the year, your daily donation to the jar is only $3.65! No big commitment means you can always make your daily deposit. If you are trying to save in time for the summer, consider doubling the penny deposit amount. Day four would mean an 8¢ deposit instead of 4¢, and so on. This way, by the time summer vacation rolls around, you will have saved over $600! It’s amazing the saving you can do with just a few cents each day.

Start a Side “Job”



Much like fundraising but for your vacation fund instead, you can start a side job! Maybe you like to craft, write, or make jewelry, or cool wooden signs. These are all marketable skills. Take a little bit of time in the evenings or on the weekend, and make a few things that you can sell on etsy. There are also tons of Facebook groups for selling and buying items both new and used; if you use a group like this, you’ll avoid paying fees and shipping costs by only targeting local buyers. This can really make your side “job” less time consuming and manageable. There is no limit to the amount you can earn for your summer vacation fund while working at your second “job.”

How to Save Now for Your Summer Vacation | #travel #vacation #money Click To Tweet

Make a Sacrifice

If you and your family really want to go on something like a dream cruise to the Caribbean for your summer vacation this year, but you can’t figure out how to get that extra $2,000 or so, consider making a sacrifice. Cut out your cable bill, shut off your additional media and entertainment platforms, agree as a family to scaling back on a big expense each month in order to be able to deposit that money into your vacation fund. You can save yourself big money right now by cutting out non essentials from your budget!

Clean up, and cash in!

Is it time to clean your closets? Use ebayblank, ThredUp, or your favorite site to sell your unwanted clothes, kids’ toys, or gadgets. (You can even sell a junk car and get cash.) Just make sure to set the profits aside for your vacation.

How do you save for your summer vacations? Are you a slow but steady saver or a “one big deposit” type saver?


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Warm up with Beaches Resorts

Filed Under: personal finance, travel Tagged With: frugal travel tips, frugal vacation tips, how to budget for travel, how to budget for your vacation, how to save money for travel, how to save money for vacation, how to save money for vacation fund, saving money for travel, saving money for vacation

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Reader Interactions

Comments

  1. Michelle @ momsarefrugal

    at

    It is never too late t start saving!

    Reply
  2. Donna Martin

    at

    Good info
    thank you

    Reply
  3. Susan Smith

    at

    Great tips, instead of going out for coffee, I make it at home and use that money for our vacations.

    Reply
  4. Muhammad Farouk

    at

    great tips. I love your ideas!

    Reply
  5. Dana Rodriguez

    at

    These are great tips. We are planning on a vacation in May and I love your ideas!

    Reply
  6. Terri Quick

    at

    Thank you for these great tips

    Reply
  7. Sandy Klocinski

    at

    Awesome ideas! Never too early to start saving. Thanks for sharing

    Reply
  8. April L Roods

    at

    Great idead

    Reply
  9. Christina Gould

    at

    These are great tips. You can’t start saving too early for summer. Thanks for posting!

    Reply
  10. Sarh S

    at

    I wish I could control myself enough to save my tax refund. At least I usually put it to good use, last year I bought a new bed frame and couch.

    Reply
  11. Courtney Scarbin

    at

    I always drop the ball when it comes to saving my tax refund & end up regretting it. I vow to do better this year!

    Reply
  12. Linda Linneman

    at

    I love taking summer vacations with the family. We have a tight budget though. These are some great suggestions. Thank you so much for sharing this

    Reply

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