Now is the time to start saving for next year's family vacation. You can make saving for vacation fun and fairly painless. It's even better when you get your children involved.

Most banks have a weekly vacation plan. You can use that easy advantage to save for vacation without dipping in the family emergency fund. If your bank does not have a vacation plan, open a bank account to be used specifically for vacations. Get your whole family involved, all you need is purpose and a vacation money jar.

Have a Plan and a Goal

Planning starts with the adult(s) who will set the minimum weekly amount, $10 per week for $520, plus interest; or $20 per week for $1040, plus interest. Your children can help by placing change or a dollar in the vacation jar whenever they have extra money or want to contribute to the vacation fund. Any large jar with a lid will do. Remove the old label and replace it with a picture of your dream vacation destination. Saving for a trip to Disney World? Find a picture of Mickey Mouse or something else appropriate and paste it on the vacation jar.

When you have opened your family vacation account, hold meetings and gather information for the trip. Each time you make your weekly trip to the bank, report to the children (or take them with you), show them the change in the dollar amount in the bank book, it will serve as an incentive to help make the money grow faster.

Next year, you will truly have a "family'" vacation. Also, you will have taught your children a valuable lesson in finance.

"Are we there yet?"