Happy New Year! Have you missed me? I’ve missed all of you! As I get back in into real life and dive into the routine of a more regular schedule it’s also time to start kicking it into planing mode. C’mon, you’re not surprised are you? Everyone knows in this corner of the suburbs we’re always talking about our next vacation. With that in mind, it’s time to start planning and SAVING for the next vacation. Everyone knows there are all there kinds of tips and tricks on how to book a cheaper trip and how to save on that vacation once you are there. (Some of my favourite travel hacks to save for your next trip are right here.) But how do you save for you vacation? It doesn’t have to be hard.
- We have a dedicated travel account that we endeavour to drop a little money into each month.
- A big glass jar we drop our pocket change into. (this adds up faster than you think and the whole family can contribute)
- And this year we will take the $5 challenge. Have you heard of it? So easy!
Here’s how you can participate in the FIVE DOLLAR CHALLENGE. Every time you pay for something at the store and get that change in your hot little hands, save your $5 bills. Tuck those fives away. Don’t spend them. (this is perhaps the hardest part) At the end of each month, deposit your saved fives into your separate vacation account. Before your know it your vacation fund is something you can actually use for that next trip! Sigh, a weekend in New York City, a cottage getaway, just a staycation at a local hotel – it’s all closer than you think!
Will you take the $5 challenge this year and if so……where are you dreaming of travelling this year?
Take the $5 challenge would be extremely difficult for most people, since paying is usually done with a credit card these days. For me too since I get a payback from my credit card.
Great idea for saving.
Love the $5 challenge. Such an easy way to save up some cash. Love the idea of saving up for a holiday this way!
That is a fantastic idea for saving for the next trip. Thanks for the great tips. I think the fives would add up to quite a bit and wouldn’t really be missed that much since it’s just a fiver here and there.
I can go weeks and never see cash… we do everything with a debit card. We always have these great ideas but life tends to get in the way so we end up doing most of it on credit. Bad plan, I know. But then we come home and start to work on the credit cards.
I am using Mylo to do some saving, maybe I will give this a try as well. Would like to get to Toronto for a concert this fall.
I love the $5 Dollar Challenge! I have thought about starting a vacation savings account for a while now. I bet it adds up quickly.
This sounds great! I have 0.50 cents go into my savings account everytime I use my debit card, and it’s surprising how fast it adds up!
I love the $5 Dollar Challenge! I am going to start a savings account with my $5’s!
If it weren’t for holiday savings and being able to envision where it will take me I think I’d go mad! 🙂
FIVE DOLLAR CHALLENGE does sounds interesting and a challenge I should try,thanks for sharing
Good to have realistic goals. I’ve never heard of the 5$ challenge, interesting.
I have been doing this actually (not always but mostly 🙈.I have saved up and will be off to Hawaii in a few months. Woot Woot!!
Haha – I rarely carry cash, so no $5 challenge for me. That doesn’t mean I don’t put money away for that vacation though! It is an automatic inclusion in our budget.
I struggle to save for vacations. There just always seems to be something else that needs our attention. But this might just work. Great idea!
It’s SO easy to take the funds you have saved and put them towards real life. I find it’s easier to save if you have a dedicated account and remember there’s true value in dedicated vacation/family time too!