Friday, May 30, 2014

Summer Vacation Saving Tips





With summer fast approaching, there is probably one thing that’s on everyone’s minds – family vacations. However, it’s not all fun and games – along with the excitement comes the inevitable worry about saving enough money for the trip. It’s a big hurdle to overcome but with a well-planned out budget and plan, saving up won’t be as gruesome as it may seem. Saving money isn't rocket science; it’s about discipline and knowing how to make your money work for you.

“Vacation planning should be fun and should not be felt as a burden. Families should focus less on the financial-woes and think about the memories they will make on the trip,” says personal finance money-honey, Gail Vaz-Oxlade. “If you know where and how to save, you’ll realize that saving for a family vacation is much easier than you had imagined. With careful planning, everyone will be able to find a trip that would be a perfect fit for their budget.”

The first step in planning a family vacation is to make a budget and to start saving up for the trip. An easy and great place to start saving is at home. You can save a lot by making small changes in the way spend. For example, being conscious about the choices you make in purchasing groceries and other home-related products will not only save you money but it could potentially also make chores around the house a lot more efficient as well.

Here are a few tips on how you can easily save around the house to prepare for your next family vacation:


·       Plan out your purchases and stick to your budget – Smart shopping is an important part of the equation and that means being prepared. Do most of your decision making at home to cut down on impulse purchases.

·      Comparison shopping – Buy products that stretch your dollar. Just because a product is a no-is priced lower, doesn't always mean that it will have the quality of the brand you love and trust. Many brand name products now offer value-priced offerings with the quality you know and trust. For instance, you might need 4-5 sheets of lower priced paper towel when one sheet of the Bounty Basic will do the job. You’ll be surprised to know that many branded products give you more bang for your buck.

·       Coupons – Take advantage of coupons when you’re grocery shopping. Utilize websites such as savingmadesimple.ca which provides great deals and coupons on the products you’re already using. You can also look through your flyers to find great deals from the stores you frequently shop at, or sign up for newsletters to have them delivered to your inbox weekly.

·        Transfer money to your ‘travel fund’ – The savings you made from using coupons or finding great deals should be put into your ‘travel fund’ instead of being put back into your wallet. This will prevent you from using the money on something else other than towards your summer family vacation. 


 Tips By: money-maven, Gail Vaz-Oxlade
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