Save for the dream summer vacation

Parents are always planning the next big family vacation. While the destinations are endless, the budget for these getaways are not, especially when travelling with the little ones. To enjoy your summer vacation with greater peace of mind, it is wise to save up for the trip.

Here are some tips to save for the best vacation for you and your family.

Prepare a spending plan

Know how much you want to spend on your vacation, where you want to go and how you want to get there. Be sure to include travel costs, lodging, food, entrance fees, gifts and extra funds for the unexpected.

Driving vs flying

If your destination is within driving distance you may save more by taking that road trip. A family of four will save around $300 by driving instead of flying from San Francisco to Los Angeles, when comparing costs. And the road trip may be the one thing the family remembers the most about that summer vacation.

Cook more

To save money, consider dining in more instead of dining out or ordering takeout. The National Restaurant Association states that a family with kids younger than six years old spends about $239 each month on restaurant meals.

Put your tax refund to work

Many people receive their tax refund in April, which provides a great opportunity to save for summer vacation. The key is to resist the urge to spend the tax refund when it arrives.

Open a special savings account

If you’re serious about saving for your family vacation, open a savings account just for this trip. A great way to save is to have a certain amount of money from your paycheck automatically deposited into your savings account via Direct Deposit so that your savings is automatic and becomes a good habit.

Travis Credit Union offers a Target Savings Account that is great for saving toward your family vacation or other big expense. Visit www.traviscu.org for more information about our Savings Accounts as well as other ways we can help you better manage your money.

Have a great summer trip!

Target Savings