Wallet watchers: Tips for saving up for your next vacation

Almost everyone says they want or need a vacation but not everyone can afford it. Even with time to spare, most Americans would choose to continue to work because of financial burdens like loans, medical bills, insurance premiums or mortgages. For a lot of people, expensive vacations are out of the question. Still, there are some hacks that can get you to your dream destination quicker than you might think. Here are some tips to help you save up for your next vacation.

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 Open a vacation bank account
If you open a dedicated account just for savings, you are less likely to touch it. You can deposit money here every now and then, better if you can do it regularly. If you’re planning on a big trip like a year-long backpacking adventure, it would be better to open an interest-bearing account. If you do, you might have a few extra hundred dollars to spend in your vacation.

Image source: debtroundup.com

Cut your monthly food budget
It may sound difficult but cutting your food budget can be easy. One way of doing so is to downgrade some of your regular orders. Instead of going to Starbucks, get coffee at cheaper places. You can also save up by buying food in bulk or growing your own vegetables if you have the time and the facilities.

Get a side job
Even if it means being an Uber driver for a day in the week or doing telemarketer work for a few hours before going to sleep, all these add up. If you can’t get a second job, try taking on more work and rack up overtime hours.

I’mAndrew Curran Wesleyan, a student at the University of Connecticut. I’m taking up a degree in finance and want to become a financial advisor in the future. It’s always been my dream to help lower-middle class families build their savings and manage their finances. For similar reads, visit this website.