How to Save Up Vacation Money

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By LEJockimo
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Save Up Vacation Money

Vacations are supposed to relax and revitalize us, but all too often we return from a vacation with more credit card receipts than vacation photos. To make sure the photos outnumber the debts, save up your vacation money before you go, and bring nothing home with you except great memories.

Difficulty: Moderately Easy

Instructions

Step 1

Begin saving up your vacation money by calculating how much the big things will cost. Big expenses might include airfare, hotel, a car rental, food, and admissions to attractions. Depending on your vacation, other fixed fees may be included in that list. Pay for as many of them up front and in cash as you can. For example, pay for your airfare now to reserve the best rate, but you don't have to pay admission fees until you get there (unless you get a pay-in-advance deal, of course).
Step 2

After paying for what you can up front, list your fixed expenses. This total is your minimum vacation budget. Add every optional expense you can think of to this list, like shopping expenses, extra excursions, or other special splurges. Add this total to your minimum budget, and you have your maximum vacation budget.
Step 3

Divide your minimum vacation budget by the number of weeks between right now and your vacation. You must save that amount of money every single week in order to afford your vacation. Now divide your maximum vacation budget by the same number of weeks. If you can save that amount of money every week, you'll be able to do everything you dreamed of on your vacation.
Step 4

Now that you know how much money you need to save up for your vacation, you can cut back in other areas, or take on extra work, or sell some things to reach that vacation goal. A few bag lunches now or some time on eBay won't seem like a sacrifice at all when your dream vacation comes true.