3 Ways to Save Up for a Summer Vacation

 

The warmer temps are finally here to stay, which means it’s time to start planning your summer vacation! Whether you’re headed to the beach, the mountains, or enjoying a staycation, here are some ways you can embrace the season with some extra cash lining your pockets.

1. Earn extra side cash.

In this age of technology-enabled side hustles, making some extra cash is easier than ever. Consider selling some of your old clothing with Tradesy or Ebay. Earn cash and rewards for taking surveys on Swagbucks. Sell your unused gift cards on Raise. If you’re a dog lover, sign up to walk some furry friends on Rover.

2. Start a summer fund.

Instead of mixing your summer savings into your checking account, open a high-interest savings account dedicated to your vacay fund. That way, you’ll be less tempted to use it elsewhere, and you’ll earn way more interest than your bank’s checking account offers. Synchrony Bank, Marcus by Goldman Sachs, and CIT Bank all offer interest rates in the 1.55% to 1.65% range. This compares to 0.01% on most large bank checking accounts!

3. Hold your spending accountable with a free app.

There are a few different budgeting apps out there, but Personal Capital is by far my favorite. Personal Capital makes it easy to track your discretionary spending by category and cut back in the areas that make sense for you. Trimming your spending in the right places will ensure you have some extra cushion to splurge on that scuba lesson, plane ticket, or posh hotel.

Happy Summer!

 

Related Post: 3 EASY STEPS TO PAYING DOWN YOUR DEBT FOR GOOD

 

Erica Holland

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