Post by Girlfriends EnTourAge Cleveland Chapter Director, Alissa Vaughn

The price tag for international travel can be daunting; but the experience is worth every penny. If your dreams of travel are stalled – along with your current income – here are six tips for making your dreams of international travel a reality.

Tip #1: Create a Lifestyle Monitor

6 Tips for Saving for Your Dream VacationThe dreaded 4-Letter word: Budget. I know that’s 6 letters, but let’s face it, some of us believe budget is a swear word.  So let’s add a touch of class; budget is so pedestrian.  We’re fabulous ladies, so we don’t have budgets, we have Lifestyle Monitors. A Lifestyle Monitor (LM) doesn’t mean don’t enjoy yourself. You don’t have to start doing home mani/pedi’s or making ball gowns out of your curtains Scarlett O’Hara style.

Lifestyle Monitors call for awareness of how much money you have coming in and how much you have going out (electricity, car note).  With this basic tool you’ll have a great idea how much mad money you’ve got.   There are plenty of free, and paid tools out there that help you create a LM. A LM require 6 things, YOU, a pencil, paper, your bills,  maybe a calculator, and some of your time.   Spend some quality time building a LM that you can live with!  Check out the following websites for tools and further information on creating your lifestyle monitor:

Tip #2: Out of Sight. Out of Mind.

You can’t spend what you don’t have.  So keep your trip savings out of sight and out of mind. Saving is easier when the funds are in an account you cannot easily access when a new pair of shoes or handbag is calling your name! Here are a few options:

  • PayPal.com – Establish a PayPal account. Fund the account with your vacation savings. Adding money to your PayPal account can be especially useful. Vacation funds will be readily available for trip deposits, trip payments, etc.
  • Vacation / Christmas Clubs – Your local bank or credit union may offer a Vacation or Christmas Club to help you save toward your travel goals. Inquire at your local banking institution.
  • SmartyPig.com - SmartyPig.com is an online solution for saving toward your goals. It makes saving for goals manageable, fun, and social. Here are six reasons why SmartyPig.com works.

Tip #3: Take it One Step at a Time

How do you eat an elephant?  One bite at a time. Don’t allow yourself to become overwhelmed by a large number. Stay aware of your overall goal. But break your goal down into smaller, more attainable goals. Start with a simple goal of setting a small portion of each paycheck aside.

Tip #4: Get a Buddy

Saving for a goal requires accountability. It is easier to be accountable when we share our goals with others. Tell a friend about your savings goal. Encourage one another. Celebrate your successes.

Tip #5: Make Good Use of That Bonus Paycheck

Know that excitement you feel when you discover that you’ll be getting an “extra” paycheck this month? Perhaps visions of unexpected shopping spree or an expensive night out dance through your head. If your goal is to save for your dream trip use your bonus paycheck to take a chunk out of your travel expenses instead.

Tip #6: Use Your Tax Refund

Your annual tax refund check can give your vacation savings a real boost. Commit to using your tax refund toward your vacation savings before you receive it.  Once the cash is in hand it becomes more difficult to remain committed to your vacation savings goal. Make saving even easier by requesting that your tax refund be deposited directly to your vacation savings account.

Your dream vacation – be it domestic or international – may require a substantial investment. Use the tips above to set and achieve a vacation savings goal. You’ll have an unforgettable travel experience and memories that will last a lifetime.

Alissa Vaughn

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