When our son asked us to consider a family trip to Paris as his graduation gift, I sensed a “NO WAY!” rising to my lips. Since he asked midway through his junior year, though, I decided to take the challenge. Paris for five, a trip that normally costs upward of $12,000. Could we save enough to make it happen? We did! Here’s how.
5 tips to save $ for vacation
1. Cut unnecessary expenses.
You may have heard it before, but it bears repeating. A daily trip to Starbucks averages about $6.36. Get Starbucks twice a week for the 50 weeks each year (2 weeks vacation) and hat works out to be $6.36 X 100 = $636 spent. Skip Starbucks for a year, and voila! Your vacation savings plan is started. Similarly, the average family of four spends almost $3,000 per year on restaurant dining, which works out to about $62.50/week. Eat out only every other week and add $1500 to your vacation savings. See how quickly it adds up?
Get creative! What can your family cut?
- Cable. The average cost of cable is $1000/year.
- Gas. Consolidate errands and grocery shopping to spend less each week.
- Dining out at work. The average employee spends $37.50/week or $1862.00/year.