smart spending

5 tips to map out a frugal dream vacation

Set up a monthly savings schedule
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A piggy bank on the beach

"If you research the costs ahead of time, you can break the trip into savings goals in advance," says Fuchs. Look at your current monthly budget to see where changes can be made.

"You'll be able to see if you can adjust your spending and save from your current income," Fuchs says. You'll also determine if you need to work extra hours to meet your goal or whether you'll need to sell something so you can take your trip within the time frame you have planned.

For large families, Fuchs suggests having each member contribute in some way toward the cost of the trip. Teenagers may be able to pay for their plane ticket, cover the cost of their passport or help with luggage costs. Keep the goals specific and reasonable to encourage participation and the feeling of accomplishment when the goal is met.


 

 

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