8 last-minute ways to save for vacation |
| By Teri Cettina • Bankrate.com |
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In a perfect world, we'd all have fully funded vacation
accounts to pay for our annual family getaways. The reality: Most
of us are just now starting to think about this summer's vacation.
Here are some fast-track ways to save for your big trip.
1. Start with a spending plan
Decide upfront how much you'll spend on your vacation. Get specific.
Along with plane tickets (or gas, if you're driving) and hotel prices,
guesstimate costs for meals, souvenirs, and park or museum admissions.
Total it all up. If the number sends you into shock, cut back on
costs -- now, on paper -- until you feel comfortable with what you're
spending. If money is really tight, consider a couple of long weekend
trips instead of one "dream" vacation this summer.
2. Sacrifice now for fun later
Do you belong to a health club or subscribe to a service (such as
cable or satellite TV, a cell phone plan, etc.) that you no longer
use, or could easily downgrade?
"Drop the service now and stash the money away for
your family's summer vacation," says Kim Danger, founder of
Mommysavers.com. Also consider cutting back for a few months on
nonessentials like kids' dance lessons, your weekly Pilates classes,
your husband's trips to the batting cage or your family's monthly
movie-rental service.
Remember: You're just trading today's fun for the fun
you'll have during your vacation. Move what you normally would have
spent on these items into your vacation fund. Ideally, that would
be a special savings account or an easy-to-track category within
your larger savings account.
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| 8 ways to save vacation cash |
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| Don't let the family vacation sneak up and catch you unprepared this year. Guarantee a fun time by following these easy steps: |
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3. Build cash with a 'Pantry
Week'
For one week each month, from now until your trip,
stay out of the grocery store and eat only what you have in your
house. Mary Hunt, founder and editor of Debtproofliving.com and author of "Live
Your Life for Half the Price," calls this quick money-raising challenge
the "Pantry Week."
Make it fun by pretending you're on a deserted island and can only eat what you have in the pantry. What unusual meals can the kids suggest? "Most families have more staples in their cupboards than they realize," says Hunt. And guess what? It's actually OK to eat peanut butter and jelly for dinner one night.
4. Eat out less, save big
A typical family with kids younger than age 6 spends an average of $239
each month on restaurant meals, according to the National Restaurant
Association. That's money that could easily be diverted to your
vacation fund.
Some ways to cut back without going cold turkey:
Check local restaurants for "kids eat free" nights (often Monday
or Tuesday nights), watch newspaper coupon inserts for buy one entrée,
get one free dining deals or buy discounted coupons (usually $25
certificates for $10) at Restaurant.com.
Frozen dinners or ready-made grocery deli items are much cheaper than restaurant food if all you really need is a cooking break. You could also eat dinner inexpensively at home, then treat the family to a modest dessert out.
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