If you’re a fulltime career woman—regardless if your career is managing your house or managing a business—chances are you could really, really use an annual holiday. If anything, spending several days to recuperate from the daily grind of work and worry will do wonders to your mood and perhaps your productivity levels as well. And come on, we all need a bit of fun once in a while, no? ^^
Anyway, taking a vacation means funds… and while there are plenty of ways to save money while on vacation, it’s even more important to save up for a vacation…
Now, so far I’ve found that few people actually do this—saving up for a vacation, I mean. Some feel that savings should be done for more important things; others simply put vacation spending on their credit cards (only to pay for their holidays for months afterwards).
But saving for a vacation can be easily done without hurting other saving goals such as retirement, or debt payments. If you need a place to start, then try saving just 3% of your regular income into a holiday fund. This is small enough that it won’t really hurt your regular budget, but big enough that by the time you need to pay for your vacation, there would be a considerable sum ready. Of course after several months of doing this, you can easily adjust how much you allocate for your vacation savings.
If you’re going to be serious about saving for a big vacation, then here’s another tip: Open up a new savings account for your vacation funds, then arrange for an automatic transfer to that account. This removes the psychological barrier that many people face when trying to save up from something ‘fun’.
And well, that’s all there is to it, actually. So, yes, saving for a vacation is actually quite simple. What’s left is making the most of our vacation funds… So, stay tuned for financially-sound vacation tips starting tomorrow… ^^