Saving for a vacation

Vacations are those relaxing time of your life where you get to kick back and relax. It is that short break from your stress at work where you can enjoy life for what it is. But vacations have also become somewhat of a stress where you are constantly worrying about saving money for them. You are constantly worrying about saving enough for a vacation but then you start to worry about the next one and the next and the next and the loop goes on. But all this can be avoided with a few small habits that can help you to save long term for your vacations.

Set up a dedicated vacation travel bank account

If you are one who is interested in regular travelling, you should consider setting up a bank account only for your travels. Keep it separate from your savings account as you will most likely spend it if the two are clubbed together. Add a fixed amount of money on a monthly basis to your travel account. This approach works wonders and you will have enough to plan your next vacation.

Budget your travels

Rather than spending lavishly on your current vacation and then worrying about your next one, set a fixed budget for your vacation. You basically have an itinerary of all the activities you will perform in your vacation, you just need to plan your budget accordingly. This will leave you with plenty for next vacation.

Cut back on a few monthly expenditures

If you want to save enough for your vacations, you need to cut down on some daily or monthly expenditures. Rather than going to a restaurant every night or eating out every day, cook most of your meals at home. This will help you save a lot. You can also think about the gym membership which you rarely attend. You could rather purchase some equipment and follow trainers on YouTube. This will help you save more for your vacations.

Buy stuff that is useful to you

There are many products in the market that look good but are hardly useful to you. There are times when you feel the need to buy some new product that has just entered the market but after a few days you find it a waste of money and it just sits in your house occupying space. You should be careful of such impulsive buying tendencies as the money spent here could be spent on that next vacation of yours.

Sell your useless stuff

There is a high chance that you have a few items in your house that are not useful to you and are just occupying space. They could be those impulse purchases that you later regretted. It would be better if you sold them out on websites such as sell out used goods. It would be better to convert them to liquid cash.

Try freelancing

In addition to your work, you could try to earn something something at the side as a freelancer. Freelancing gives you flexibility of working hours and some extra cash that would be well spent as a treat to yourself.

Rent out your spare rooms

If you have a big house with spare rooms that no one uses, you could get those rooms to make money for you. You can either rent out your rooms to paying guests or put them out on rent on websites like Airbnb.

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