How to Save For Your Next Vacation

Imagine yourself laying beachside catching the sun with a cool drink sweating in your hand. Nice picture, right? That can be you if you start planning for your vacation now! Life gets busy, so before you get swamped, pick the destination and set a budget for your next getaway.


A vacation is anywhere you can relax and recharge. That can be in the comforts of your own town, checking out local sights, hiking and camping in the depths of the wilderness, or at a tropical destination with sand between your toes. Where you go will decide how much of a budget you’ll need.

On a staycation, you save on lodging and transportation. This kind of vacation gives you the excuse to check out the nooks and crannies of your town without the hubbub of tourists getting in the way.

A camping adventure brings out your inner explorer. Camping oftentimes saves on lodging if you choose to camp in an RV or tent. You’ll often save on food since you’ll be cooking your meals on the fire. The best part of camping is getting back to nature and disconnecting from the urban world for a second. Consider it almost like an anti-vacation because once you go home and take that first real shower after a week, you’ll have renewed appreciation for the amenities of your home.

Beach paradise trips are exactly how they sound: awesome. You may not save as much money on lodging, transportation, or food, but as long as the sun is on your face, it’ll be a trip you will never forget.

At the end of the day, it doesn’t matter where you’re going, but the people and memories you make along the way.


Once you’ve picked where you’re going, you need to budget. Saving money for the trip and having extra cash will bring a whole other level of peace of mind to your getaway. When you’re budgeting, compare flight prices, hotel bookings, and food costs. Also, consider the attainability of your timeline. Don’t expect to save $5k for a trip to the Bahamas in 2 months. Plan out as much as you can when it comes to the expenses of your trip.

Don’t forget to factor these items into your budget:

  • Transportation (flights, rental vehicle, gas, etc.)
  • Lodging (Hotel room, condo, B&B, camping sites, etc.)
  • Food – to save some cash for a few nights, consider cooking a few meals than going out to eat
  • Activities – You’re there to enjoy the sites; get the most out of your trip
  • Souvenirs
  • Miscellaneous (hotel fees, pet fees, etc.)

Start Saving

You’ve worked hard all year long, so make sure you can save for the vacation you deserve. One of the best ways to save for a vacation is to open a vacation-specific savings account. This account will be separate from your regular savings account and often earn a higher dividend. Many credit unions offer some kind of vacation-specific savings account because they understand the value of your time and money.

If you’re determined to make some extra cash for your trip, consider one of these:

Picking up a side job can be freelancing gigs, a part-time job, or driving for a food delivery company. Whatever you do, make sure it’s something you can handle. Don’t overwork yourself to the point of exhaustion. Then your vacation won’t be very enjoyable.

Use your credit card to earn rewards. There are credit cards out there that accrue airline miles or give cash back on all the regular purchases you make throughout the year. Make your credit card work for you.

As a last resort, you can cut expenses at home. While there is almost always room to cut back on your budget at home, we don’t recommend cutting back on the food or debt parts of your budget. Instead, consider unused subscription services or entertainment costs. Every little bit of extra spending can go into your vacation piggy bank.

Wherever you’re going, make sure you plan and budget for the trip. This will put you in a worry and stress-free mindset for optimal relaxation on your vacation.