Lifestyle Tips

How to Save for a Family Trip

Most American families are looking forward to their next vacation.  Not only is a break a fantastic way to bond with your loved ones, but they can also be the highlight of your year.  Unfortunately, not many vacations are cheap- so saving up is a must.  Here are a few ways to save up until you can afford to take some time off and enjoy it with family.

Work Out Your Current Budget and Spending

This step is the most important one.  Write down how much your family makes and spends in a month.  Consider if that changes month to month, or if it’s steady.  Don’t forget to add in the fun expenditures your family makes.  Do you go to the movies every week?  Is there a big dinner out your family enjoys every Friday?

It’s essential to be honest with yourself, from daily coffees to gasoline.

Save What You Can Off The Top

The first thing to do is consider what your family can do without until your vacation.  Instead of going out to the movies every week, rotate who picks movies every Friday and make a lot of popcorn and snacks together.  If you spend five dollars on coffee every morning, make your coffee at home and tuck those five dollars into savings every day. You should also look at how you are using your utilities and see if there are any ways you can reduce your spending there. For example, if you know you use a lot of heating, you might find the money-saving tips in this post over on useful, and make a few changes around the home to try and reduce what you’re spending on this particular essential.

Cut 20-50% off the income you have leftover after your essential spending, and put that directly into a savings account.

Don’t go too extreme, of course.  If you get coffee for a couple of dollars in the morning and it feels vital for you to be able to work and do your job- you don’t have to cut it out.  Just look for wiggle room in your other monthly costs.

Ask For Help

Some families have found luck crowdfunding their vacations.  Asks friends and family for small donations, since these add up, and make it clear how important this is to you.  Thank anyone who donates- regardless of how little it is.

This option may be embarrassing for some people- but if you’re serious about getting a vacation and your funds are tight, this may be your most viable option.

Work Together To Make More

Put together a yard sale with your kids, or a carwash, or any other classic way to scrounge up some extra income.  If your house feels cramped, stop looking at Cincinnati houses for sale and instead sell things that are cluttering it on eBay or other websites.  If you have a hobby you can use to make some extra income, use that as well!  This option may feel strange at first, but give yourself the chance to make the vacation work.  It’s just for now, and the payoff, in the end, will be worth it.

You’re taking this vacation to get closer together and have experiences that you wouldn’t have if you stayed in your hometown.  Remember not to stress too much over it or make yourself miserable, saving for a vacation- your lives at home are essential, as well.