Tips on Saving Money to Finance Your Summer Vacation

Summer is almost here, and now is the time to start figuring out how much money you can save for vacation without maxing out the old credit cards. Whether you travel out of state or vacation in your own back yard, the time to start planning is now.

1. Start a change jar: Place a jar for loose change somewhere that everyone in the family can see to watch it grow. Empty your pockets and wallets of any loose change daily and place it in the jar and watch it grow. Let your children decorate the jar. If you are planning a trip to Disney then let them place Disney stickers all over the jar. If you are going to the lake then wrap the jar in copy paper and let the children decorate the label.

2. Tax Incentive: Most families are preparing for receiving a tax incentive rebate this year. Place this money in a savings account and hold it for vacation or pay off a credit card. Most families can expect to get back $600.00 per adult and $300.00 per child. This could make a huge difference in your vacation budget.

3. 10% rule: start placing 10% of your income into savings for vacation. If you do this year round then you will have a small fortune saved up for vacation.

4. Overspending: Most of us live beyond our means. Recognize that you can not afford to go out of state. Plan a vacation with a tent or camper at the lake. Children will appreciate your spending time with them even if you do not head off to a big ticket vacation get away. Take your scooters, bicycles, fishing, and swimming gear and prepare for lots of fun.

5. Save coke caps year round: You can exchange caps points for movie tickets and popcorn to entertain yourself while on vacation.

6. Vacation with your family: Talk to other relatives and see about sharing the cost of a condo at the beach. It might be the difference in staying at property on the beach or walking to the beach every day.