Saving for a Summer Getaway

May 8, 2012

By Katie Bryan, America Saves communications manager

Do you have a vacation planned for this Summer? If so, have you already saved for it? With Summer quickly approaching, there is still time to save for a trip. Need some savings motivation? We will show you how to save step by step so that you can afford a weekend getaway by Summer’s end.

Step 1- Figure out your goal & save automatically. If you save $5 a day from now until Independence Day, you can save $280 towards a weekend getaway. Double that and you’ll have over $550 towards your vacation. To make saving easy, have a portion of your paycheck transferred automatically from your checking to savings account for your vacation. You can also set up direct deposit at work and have a portion of your paycheck go directly into savings.

Step 2 – Find ways to cut back for even more savings. Saving $5 or $10 daily seems like a difficult task, but it’s easy when you examine where your money is currently going. Without a budget and savings plan, we all have a tendency to overspend. Here are quick ways to add more to your savings:

Step 3 – Save even more on your weekend getaway. Because you are starting to save and plan early,    shop around for deals to save money on hotel and travel expenses. Check out a guidebook for your vacation destination for low-budget recommendations for food, activities, and accommodations. For further savings:

Where are you planning on going this Summer? Let us know on our Facebook page.