You’re sipping a pina colada on a beautiful, white-sanded beach while watching the cerulean waves lap at the shoreline. You might be pulling muscles and riding high on adrenaline while scaling Mount Greylock in Massachusetts. Or, maybe you’re browsing a charming shop in a European city filled with exotic culture and cuisine.
Everyone has a dream vacation. For those with limited funds, though, the vision never gets a chance to become a reality.
6 Ways to Afford a Vacation
Atlantic Financial Federal Credit Union is here to help. Read on for six ways to make your dream vacation happen.
1. Start saving
Between airfare, lodging, food costs, and attractions, the vacation of the century is going to cost you a pretty penny. You can save by budgeting carefully and choosing the cheapest option wherever possible, but you’ll still need the cash to pull it off.
Give your vacation a jumpstart by planning for it all year long. Here are a few tips:
Set up a “trip jar”
Keep a clearly labeled glass jar in a very visible place in your home. Whenever you’ve got loose change in your pocket, plunk it in the jar. Use the money you’ve saved to fund one part of your vacation, like your souvenir purchases or car rental.
According to Forbes, the average American buys lunch twice a week, at $11 a meal. If you can get into the habit of brown-bagging your lunch just one more day a week and earmark the $11 you save, you’ll have close to $600 by year’s end. That can go pretty far on a vacation!
Open a vacation club savings account
Here at Atlantic Financial, we’re all about making dreams come true, and that goes for vacation dreams, too! Call, click, or stop by today to learn how a club savings account can help you painlessly save for vacation.
2. Time it right
Choosing the perfect date for your vacation can save you hundreds, perhaps thousands, of dollars.
Consider planning your trip for just after peak season. You’ll still enjoy the beautiful weather, but your airfare and lodging costs will see a significant drop. You’ll likely also have an easier time taking off from work when the rest of the team has already returned from their vacations.
Whenever you choose to go, be careful with how you time your flight-booking. An annual airfare study shows that booking your flight 54 days before your departure date is most wise to cash in on the best prices.
Also, remember to clear your cache before searching for flights. Looking up airline prices with a full search history of flights can hike up your prices by as much as 50%.
3. Make the most of your dollar
The world has no shortage of glorious beaches. Often, the only notable difference between two beach towns is the price you’ll pay for a visit.
When researching vacation destinations, check the local exchange rates. Choose a place that will allow your dollar to go farther, and you’ll have more to spend with the same amount of cash.
4. Let your loyalty pay off
Don’t book a flight, hotel stay or car rental without checking your credit card points first. You might have enough miles to pay for a large chunk of your trip.
Similarly, don’t forget to cash in on your loyalty to your grocery store. Many supermarkets are affiliated with gas stations and offer savings as high as $0.40/gallon. If you pump 20 gallons a week, you’ll save $400 over the year. Set that money aside and you’ll be well on your way toward funding your entire vacation.
Finally, when booking hotel stays, do a quick search to determine if they offer a loyalty program for return customers. You might land yourself a steep discount just for using the same hotel chain twice.
5. Research, research, research
Don’t make any vacation decisions without first doing some research.
If you found a resort you love, check out their online presence to see if they offer airline discounts or credits. Google for nearby attractions that don’t cost much before planning your itinerary. See if you can find a local who’d be willing to swap houses with you while you’re on vacation. Check Groupon for instant discounts on entertainment and restaurants in the area.
A few minutes of pre-vacation research can save you hundreds of dollars before you set out on your trip.
6. Live in the moment
It might sound redundant, but don’t forget to enjoy your vacation!
Leave the everyday pressure and tension back home and allow yourself to fully relax. If something doesn’t go according to plan – and there’s always that something – let it slide. This is your time to de-stress and take it easy. Don’t let anything ruin it.
It’s also important to unplug. Leave the laptop at home, stop snapping pictures, take the earbuds out and enjoy the moment. Feel the breeze on your skin, soak up the sun and inhale the culture that’s swirling all around you. Let go of the compulsive need to capture every moment on camera and take the time to just be.
How to Save for Vacation
In addition to these vacation savings tips, Atlantic Financial offers Add & Earn Share Certificates to credit union members. With only a $25 minimum deposit, you get a one or two year certificate that allows for unlimited contributions. This higher yielding way to save is a great option to fast track your vacation savings goals.