The weather is warmer around much of the country, and mostly everyone has received their tax return, so now comes the time for vacations and other expenses that you might just not be ready for. Has it been awhile since you’ve had a vacation with the family? Is the reason due to financial problems? Perhaps a lack of saved money for events and expenses like vacation planning? If you’re hoping to enjoy a summer get away this year or in future years, consider these helpful tips:
- Set up a separate savings account that isn’t related to your current savings. Having this account will help you pay more attention to your specific vacations savings and allow your everyday savings account to stay separate.
- Scale back on leisurely expenses. Do you truly need that triple macchiato every morning? Cutting back on eating out and other expenses that can be prevented will ensure you have money to add to your vacation savings.
- Do you have a lot of clutter that you don’t need? Consider having a yard sale to collect vacation money.
- Keep track of your finances with a savings or budget app.
- Plan a week’s worth of spending. This ensures you stay within a budget and can count on having a comfortable amount of money to spend on a vacation.
- Make weekly contributions to your vacation fund. By making a weekly contribution, you’re proving that your vacation is high priority in your financial life.
Do you need more in-depth help with saving money and having a more financial foundation? Consider seeking out the premier CPA in Hawaii, visit Michael J. Yuda CPA, LLC today!