12 Simple Ways to Save Money for Summer Vacation

Summer is on the way and you would love to take a vacation with your family—but you are short on money. Although summer is approaching, some simple strategies will help you save enough money to have fun this summer.

Saving money often means finding little ways to reduce your spending. Here are twelve ways to help you get started saving money before and during your vacation.

Determine Your Destination and Estimate the Cost

Once you calculate it and then divide by the number of remaining months until you travel, you will know how much you need to save each month. Then, open a vacation account at your bank. If you’re putting extra earnings into this account, Sarah Kuta at The Penny Hoarder recommends setting up automatic deposits to ensure you end up with the amount needed for your vacation. When creating the account, make sure you have ATM access to it as you travel.

If you have a family, explain to them why you will need to make these cutbacks. They will be glad to make some temporary sacrifices for a fun vacation.

Evaluate All of Your Current Expenses

If you are not tracking where your money goes each month—now is a good time to start. If you don’t track your expenses, you will not be able to see what expenses can be cut, or you may only find a few. To meet your savings goal, consider getting rid of the following:

  • Gym memberships
  • Cable TV
  • Netflix
  • Cigarettes and beer
  • Magazine subscriptions

You may also consider reducing necessary expenses like utilities and insurance. Watch your water and electricity use, or shop around for cheaper insurance premiums.

Plan to travel this summer? You need to prepare for it now. (Losonsky/Shutterstock)

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