We all need a bit of rest and relaxation from time to time. With the stress and strain of dealing with the Coronavirus pandemic, a vacation sounds pretty good. Unfortunately, you may have to wait for a few more months until travel to certain destinations is once again possible. The good news is, the extra time will help you to save a bit more travel money. With a little discipline and frugal changes to your everyday life, you may be surprised at the choice of destinations that you can afford.
There are areas in everyone’s personal spending that could be cut back for the sake of saving. Lifestyles and spending have already changed thanks to the pandemic. Many people are now working from home currently and finding all kinds of ways that they are saving money. While working from home, you are saving on gas money and the cost of work meals. Those small areas of savings can be funneled toward your vacation fund.
You can download a guide about personal finance to help you understand where your money is going and where you can afford to cut back. Let’s take a look at a few frugal ways that you can save for your next vacation.
Dedicated Savings Account
One of the easiest ways to save money is to open a dedicated savings account. Your bank can help you set up automatic transfers from your checking account when you get paid so that you never have to give your savings another thought.
You can also set up an automatic savings transfer. This means that every time you make a purchase through your account, you can round up the purchase price and have the balance transferred to your savings.
For example, if you make a purchase for $17 you can have your account set up to round any purchases by $3 bringing your total cost to $20. The extra $3 on all your purchases will then be transferred to your savings account. This is an excellent and pain-free way to save a lot in a short time.
The average working adult spends close to $100 a week on meals outside their home. These expenses include your morning coffee and snack, and your lunch picked up at the office and afternoon snacks. If you are working from home, you are already saving a bundle but if you are still going to the office, you may want to save some money for your next adventure by taking a bagged lunch.
Make your coffee at home and carry a travel mug, and stock your desk with a few of your favorite snacks. Being able to put almost $100 toward your vacation instead of doing it out to take out food will have you sitting on the beach of your dreams in no time.
Sell Your Stuff
A great way to make some extra money and purge your home is to sell some of your stuff. We all have a bit more time on our hands during the pandemic, so it’s a great time to tackle these bigger projects. Old appliances, clothes, books, sporting equipment, and decor items can make you some money. Sell online or have a garage sale and dedicate your profits to your vacation savings.
Living through this pandemic causes many people to take a closer look at what they really need and what they can do without. As you take a closer look at your monthly spending, you may notice that you have a lot of smaller non-essential expenses. Subscriptions to magazines, online platforms, and cable packages can be easily paused or canceled while you save for your next trip.
Wouldn’t you rather spend your hard-earned money on a rewarding and relaxing vacation to enjoy when the world recovers from the Covid-19 pandemic? Take some time to rethink your expenses and find the areas that can be trimmed back. You will be surprised how quickly your savings will grow.