Just because it's only January doesn't mean you can't plan for this year's big vacation! Whether you're dreaming of warm sandy beaches or the beautiful snowy mountains, it's never too soon to start dreaming… AND saving… for your next big adventure.
Ready to start now? Here's our top tips for being financially prepared for your next vacation.
Set Your Goal and Destination
To get you started, begin exploring different destinations and the cost of travel to get there. Not to mention the cost of lodging and accommodations, meals, and excursions. Once you've narrowed down your top picks in terms of location and price, you can start to think about ways to cut back on costs. Such as flying on certain days of the week, and even spending longer or shorter periods at your destination.
Eliminate the Unnecessary
Yes, we say this a lot, but most consumers have a few expenses they could live without! You can start by looking over your transaction history and try to spot any expenses you could eliminate, or even reduce. We're not saying you can never have an iced coffee while you're out, but maybe not every day! Consider cutting back on dining out, splurges such as concert tickets, and maybe even shopping if you enjoy online shopping a bit too much (we do!). Then, start transferring that money you would've spent elsewhere into your vacation savings!
Make Dough Off the Closet Clean Out
Spring cleaning is right around the corner, so why not get a head start! We all know to test if something "sparks joy," but sometimes it can be easier than that. Head to the closet, basement or attic and look for old items you no longer use such as sports equipment, electronics and of course clothing.
No matter where you travel and how you do it, be sure to stay safe, have fun, and make memories! Then start saving so you can do it all over again.