This might be a great time to redeem miles you’ve been racking up. Not to mention all of the great rewards you can get by strategically using a credit card. ![]() Know what hotel you want to stay at? See if they have a loyalty program available – most are free to join, and offer some great perks. Some destinations offer discounts if you’re a AAA member. There are a ton of rewards to cash in on, and you can even get some perks for free. The weather can still be great without the increased prices associated with market demand. For instance, if you want to go to a family destination and aren’t traveling with kids, book while school is still in session. If you have some flexibility with your scheduling, use it to your advantage. Even if there isn’t a clear answer out there, a quick look at hotel and flight prices should show you when prices spike. Peak season varies for every destination, so do some research into when travel costs are highest. If you’re locked into going to a specific location, consider planning your travel outside of peak season. Plus, there’s no downside to coming in under budget! For example: BOOK YOUR DREAM DESTINATION FOR THE OFF-SEASON Since you’re already planning ahead with your savings, you have plenty of time to research and capitalize on deals as they come up throughout the year. Whether you have a clear destination in mind or you’re trying to stick to a strict dollar amount, there are a lot of ways to save on the vacation itself. You can say you want to cut out $50 from your food budget every month to put towards a trip, but if you’re not adjusting your budget and actively watching your spending, it could be easy to forget. ![]() Keeping a big picture view of your monthly, seasonal, and annual budget in relation to your vacation savings will help keep you accountable. Cutting out one of your weekly coffee runs? That’s great, but make sure your budget reflects your change in priorities. Add it to Your Yearly Savings PlanĮven if you’re using a dedicated, separate holiday savings account for your vacation fund, make sure you’re working this individual budget into part of your larger yearly savings plan. Are there ways you could cut back on back-to-school spending? Do you need a new pair of fall boots, or is last year’s pair still good to go? Could you recycle a Halloween costume instead of buying a new one? Any time you find a way to cut back, deposit that money straight into your vacation fund. With fall coming up, in addition to regular savings, think about practical ways you could maximize seasonal savings. You could come up with a weekly plan, like setting aside $25 each week, or starting small and increasing your contribution over time. This will help you keep your vacation savings separate from your regular savings and remind you not to dip into your vacation fund. Are you going to earmark some of your current savings? Cut back on expenses to put more in your account? Or there’s always the tried and true method of saving your pocket change in a jar! Consider opening a separate savings account, or utilizing a special occasion account like a holiday savings account if you already have one. ![]() Once you know how much you need to save, consider how and where you’re going to set aside the needed money. Either way, make sure you’re accounting for all the possibilities – travel, hotel rooms, food, activities, souvenirs, etc. The first approach might be more conscious of your overall budget, but if there’s a destination you’re dying to see, you can still make it there with a reasonable plan. Choose your destination, and set a dollar amount based on researched potential costs. ![]()
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