According to Credit Donkey, the average person spends about $1,200 on a vacation each year, or $4,800 for a family of four, including transportation, food, entertainment and lodging. While there are plenty of ways to do it cheaper, and nearly endless options for a luxury dream escape, if you’re on a tight budget, it can be difficult to scrape enough cash. Even if you’ve just worked with a realtor in NJ to buy a home or spent a big chunk of change on something else, by using these tips you may not have considered, before you know it you may be climbing that mountain or lounging on the sand with a drink in hand.
Give Up Your Latte or Mocha Habit
Starbucks and other high-end coffee shops have somehow managed to convince us that our daily dose of caffeine should come in the form of a mocha with whipped cream, a vanilla latte or some other fancy hot beverage. But if you have that habit, it means you’re blowing money that you could be saving to use for a vacation. Think about it, over time, exchanging that expensive drink for a home-brewed cup instead just might make it possible for you to be snorkeling with the sea turtles in crystal clear warm waters. Pricey coffee or sea turtles? You decide. You can potentially save $150 a month, at $5 a pop ever day – that’s about $1,825 a year.
Fill Up a Change Jar
Dig up an empty jar or a gallon-size water jug and set it on your kitchen counter, or anywhere else where you can easily toss in all your change at the end of the day. You’d be surprised at how quickly it adds up, and you probably won’t miss it at all. Tossing in just $2.74 a day will net you $500 in six months, $1000 in one year. If you can get everyone in the family tossing theirs in, even better.
Host a Yard Sale
If you have things lying around the house, stacked up in the garage, storage shed and so on that you’re not using, it’s time to clear out the clutter and make some money that you can save for that vacation. Look at everything you have that doesn’t have a real purpose – would you rather have it, or enjoy a getaway in Ireland, Iceland, Hawaii, Fiji or any other spot on your travel bucket list?
Rent a Room
You might even think bigger than a yard sale – do you have a room in your house that’s going to waste? Getting a roommate can help you save big on rent or that mortgage payment. Another option is to rent it out on AirBNB or a similar site occasionally – it’s one of the best ways to quickly build up that savings.
Get Rid of Cable TV
More and more people are “cutting the cord,” saying goodbye to cable television and watching shows available via streaming services instead. It’s far cheaper than the $75, $100 or even more you’re paying each month. It might just save you upwards of $1,000 every year. Money that could be used for airfare, a cruise or a cabin in the woods.