June 29, 2015 by Leave a comment

Vacation is fun. Paying for it, well, that’s not very fun. Or is it? Okay it isn’t. But that doesn’t mean you can’t enjoy the saving process with these six ideas.

1. Special savings account

When you have cash in your pocket, you’re more likely to spend it. The same goes for money in your checking account. So instead of an uphill battle against your willpower, just open a vacation account.

2. Stay with friends/relatives

This one takes some tact, but if you have friends or relatives that live in a vacation paradise, it doesn’t hurt to try and work something out. Hey, maybe they miss you?

3. Change jar

Don’t underestimate the power of loose change. If you average .75 cents a day, that’s $273.75 a year.

4. Cheaper meals

Food is usually one of the largest monthly expenses, which means there’s a lot of room for savings. If you take it upon yourself to stop going out to eat, and instead, make all your meals at home, you’ll save money. If you decide to only eat rice, kale, and chicken, all purchased in bulk—you’ll be on a plane to Maui in no time!

5. Delayed grati-vacation

There’s a famous psychology experiment where the facilitators gave kids one marshmallow and told them they could eat it now, or wait a few minutes and they’d get another one. Unsurprisingly, some of the kids couldn’t resist and went for the one marshmallow.

As adults, we like to think we have more self-control, but a lot of times we don’t. The trick is to remind yourself how much better a vacation will be than whatever it is you might buy. After all, everyone knows vacation marshmallows taste best.

6. Turn trash into treasure

“One man’s trash is another man’s vacation money” is something my Grandfather used to say. Okay, he didn’t say that, but it’s still true. And with the internet, it’s never been easier to liquidate unwanted assets.

Carter Wessman is originally from the charming town of Norfolk, Massachusetts. When he isn’t busy writing about mortgage related topics, you can find him playing table tennis, or jamming on his bass guitar.

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