1. Have a savings plan in place. Try having a set amount of money automatically transferred to a savings account each month. If you’re getting a raise, consider using some of the extra income for this purpose.
2. Cut back on expenses. Take a good hard look at your expenditures and see if there are any areas where you could cut back. Some possibilities: eating out less, buying less expensive clothes, buying a used instead of a new car, limiting expensive hobbies, controlling extracurricular expenses for the kids, fewer trips to the mall, and using fewer prepared foods.
3. Use coupons. Clip coupons from the newspaper, and sign up for free coupon websites to print coupons at home. Consider using the money you saved towards your vacation.
4. Save your spare change. If clipping coupons is too much work, try this: when you get home each day toss any change and leftover single bills into a jar. While this may not pay for your plane ticket to Hawaii, it might pay for a dinner out during your trip.
5. Join the frequent flier miles program. Especially if you travel frequently for business, the miles can really add up. Joining is easy; you can do it right on most airlines websites and keep track of your miles from home.
6. Get a new credit card. Some credit cards (many are offered by the airlines) give travel miles based on the amount you spend on them each month. To increase your travel miles, use your card in place of your debit card for purchases like groceries and gas. As long as you’re careful to pay the balance off each month, this can be a great way to increase rewards fast.
7. Involve your kids. Don’t be afraid to ask older kids for help, especially if they have a dream vacation they’ve been begging for. Perhaps they’d be willing to donate a portion of their paper route money or take on an extra babysitting job to help with the vacation fund.
8. Do the work yourself. When faced with your next home or car repair, consider doing the job yourself. Painting your house may seem like a daunting task, but doing so can save thousands of dollars over hiring a professional painter. Use the money you saved towards your trip.
9. Sell stuff. With the popularity of EBay, selling unwanted items is fairly easy. Sell anything you don’t use or want anymore and encourage your kids to do the same. For an easier option, have a garage sale or rent a table at a flea market and use the proceeds to pay for your vacation.
10. Lighten up on holidays. Holidays and birthdays are huge expenses for families. Instead of spending all your savings on gifts, talk with your family. They may be willing to cut back and use the extra money to take a trip together.
