How to save for a vacation
According to an AAA survey, only 35% of American families had planned to take a vacation in 2017. I don’t know the numbers for 2018, but my guess is that it isn’t much higher. Rest and relaxation are basic human needs, yet a majority of Americans fail to take a yearly vacation. For most people who won’t be taking a vacation this year, the primary reason is not having the money to afford it. But is this a legitimate reason, and is it really true?
I’m a firm believer that if you REALLY want something, you’ll find a way to do it. And, when it comes to taking a vacation, something that’s good for you both physically and mentally, you must find a way to do it.
“Whatever the mind can conceive and believe, it can achieve.
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In 2014, Natalie and I took a 28-day vacation. We traveled to the Canary Islands, including Tenerife, as well as to Madrid, Barcelona, Nice, Pisa, Venice, and Pompeii. It was incredible! We had so much fun! And we’ll never forget the experiences we had. The only thing that bothered me about that trip was that we didn’t do it sooner. To be sure, it was a sacrifice, but it was so worth it. I couldn’t imagine spending the money on something else and experiencing the same joy and fulfillment both physically and emotionally.
Why do people not take vacations?
I have met and coached people who had not taken a real vacation in years, and some who had never taken a vacation. They had convinced themselves that spending a substantial amount of money on a week of vacation was wasteful. They literally believe they can’t afford it, that it’s too extravagant of a thing to spend money on. Yet, many of them spend more on less valuable things and don’t even realize it.
Everyone can afford to go on a vacation at least once a year and should! Even someone on a very small budget can set aside an adequate amount to ensure they take a vacation. I’ve included a few ways you can save to have a vacation in the next few months.
5 Ways to Save For a Vacation
1. Sell some stuff
Although the size of American homes has increased over the past couple of decades, many people still use storage units, indicating that Americans have a lot of “stuff.” I was shocked to find out that storage facilities outnumber the combined number of McDonald’s and Starbucks locations. Here's a great opportunity to not only find some money for your next vacation by selling some of the items you have in storage but also to save on the cost of storing those items.
2. Pick up a side job
There are so many ways to earn extra money these days. If you’re handy, you can pick up some handyman jobs. You can do yard clean up or lawn service. Whatever you’re good at, you can use to serve someone else and make money in the process.
My daughter Courtney loves to bake and decorate cookies. She recently started a side business doing just that, and she’s already making a small profit. Another option, which is accessible to almost everyone, is driving one day a week for Uber or Lyft.
3. Reduce your food budget
Food is one of our largest monthly expenses. Some of the items we buy can be very expensive, such as meats and processed foods. Here’s an idea that will not only save you money but improve your health. Consider trying a plant-based diet for the next month or two. Eating fruits, vegetables, nuts, and some grains will drastically improve your health and save you about half your food budget.
4. Cut Your housing costs
Another significant expense in our budget is housing. To save for a vacation this year and every year from now on, you can downsize to a smaller house, especially if your home is larger than you really need. This will save not only on your mortgage payment, but also on your taxes, insurance, and utility costs.
Speaking of insurance, you could requote your house and auto insurance with other companies, which generally results in savings. You can also save on your cable and internet bill. We Americans watch too much TV. Why not ditch the cable and go for a walk, read more, and invest in your family by actually spending more time together?
5. Downsize to one car
To realize hundreds of dollars in savings per month, consider downsizing to one car. I understand not everyone can do this, but for those who can, it’s a great way to save for a vacation. By downsizing to one car, you’ll spend less on gas, maintenance, insurance, and registration, as well as the car payment.
Additionally, if you have other vehicles that are only used occasionally, such as a boat, motorcycle, or ATV, you can sell them to boost your vacation savings.
CONCLUSION
There’s no doubt in my mind that a majority of people can do some of the things I mentioned, as well as many others, which can provide savings for a vacation. Why not give it a shot? I know you won’t regret it. In fact, a vacation is something you’ll never forget, while spending money on other things is hardly ever remembered.