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Vacation fund
February 2, 2023 | Spending,  Financial Literacy

Spring Ahead

How to save for spring break

It’s the dead of winter. So naturally, you’re already thinking of spring break. It’s not a bad idea, actually. If you start saving for spring break now, when March and April arrive, you’ll be sitting pretty. Here are some ways to get started.

Cut Expenses

The first thing you want to do is cut back on spending. Look for expense areas you can easily trim, like subscription costs. Chances are you’re subscribed to services you either never use or rarely use. Cancel those subs to save some cash. You can always add them back after spring break.

Boost Savings

Once you have identified areas where you can reduce spending, take that extra cash and add it to your savings. Make sure you have a high-yield savings account so that you’re getting the most interest possible. If not, look into credit unions and online banks, as they often offer better savings account deals than big banks. If you think it’ll help, set up a separate savings account just for spring break funds.

Review Budget

Now that you have cut expenses and increased savings, it’s time to review your budget. Make sure it reflects your new goal. If you don’t have a budget, make one. There are plenty of apps out there that can help with this.

Shop Around

As you save, look into the best deals possible for your spring break trip. Compare prices on flights, hotels and more. Look into flying Thursday to Thursday to save some money on flights. Use tools like Expedia to find flight and hotel combo deals. Just as every little bit you save now will make your vacation better, so will finding the best destination at the best price.

Content by Savvy Money

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