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One of the biggest complaints I hear from people when I ask them about heading out of their comfort zone to see the world, is that they can’t afford it. I can relate, and fully understand. Saving money is hard, and it’s even harder in today’s age. From student loans, to mortgages, the majority of the country is in debt. Throw in the COVID-19 outbreak, people losing their jobs left and right, has made it nearly impossible to save anything. Here are some strategies for saving money for vacay, and money making tips you can start to utilize right NOW:
The Envelope Method:
Here’s how it works. When you get paid, cash your check. Take several envelopes and separate them into categories. Things like bills, groceries, savings, etc… Then split your cash up accordingly so that you have a certain amount of money for everything. When you pay your bills online, just deposit the cash and pay them instantly. For groceries, only use the cash in your envelope. That’s all you have and for some, having it in physical form makes it harder to spend. If there’s extra cash leftover from any envelope add it to the savings one and then deposit it into your savings account to rack up that interest.
Apps:
Apps are a great tool to help you track your funds. Whether you use your bank’s mobile app to keep an eye on your balance, track the categories of what you spend your money on or something totally different, apps are at your fingertips. It’s easy to just log in and take a look. Knowing what’s going on with your money and having that awareness is what can keep you from spending more than you’d like to.
Make Some Extra Moolah:
Sell a crocheted blanket on Etsy, Doordash, create digital products for people online, dog sit (when we’re out of quarantine), and many more! There are plenty of opportunities to make some extra side cash. The only thing is, don’t spend it! Anything extra you make, stick it in that savings account you’ve nicknamed vacation and leave it there. It’ll grow as you add money to it and the interest will help a little as well. Over time, it can add up and you’ll be able to book that cruise in no time.
These are just a few ideas, and there are plenty more out there! Thanks for reading through my strategies for saving money for vacay. Looking for even more? Check out my Ultimate list of Money Saving Strategies.
