Being able to take a multi-child family on vacation can feel like an impossible task. Life always seems to add up with new expenses arising.
However, with the right consistent efforts, saving for a vacation is completely possible. All it takes is a goal, a strategy, and follow through.
Follow these money saving tips for your family, and you will start packing your bags in no time.
Stop Eating Out
Eating out is one of those luxuries that families don’t like to skip out on. After all, it is wonderful not having to cook, eating delicious food, and being able to take part in a group activity as a family.
However, eating out regularly is one of the fastest ways to blow money. Even if you aren’t eating out with the entire family and are just buying a sandwich on your lunch break. If you buy a $10 lunch each day, that alone is $50 a week. Add that up for the month and you’ve spent $200, just on sandwiches!!
The same goes for going out to bars regularly. Heavy alcohol consumption leads to frivolously spending money, and can add up quickly.
Instead, opt for buying a bottle of wine and enjoying it at home, and pack your lunches in a paper bag while you sip.
Buy in Bulk
By shopping places like Costco, or going to the bulk section of the grocery store, you can save a considerable amount of money. However, it’s essential to know how to buy in bulk wisely.
Check the price per unit of an item. Go for the option that is the lowest cost per unit. By purchasing items in large quantities, you often get the lowest price per unit available, which can save you hundreds per month.
Put away Money Each Week
Small consistent efforts can have enormous effects. By making a commitment to yourself to put away a certain percentage of your salary each month, you will be shocked at the amount of money you can save.
Another effective and low impact way of saving is putting away all of your coins and one dollar bills into a shoebox. Make an agreement with yourself to always save this kind of small change, and when you open up the box at the end of the year, you’ll have hundreds that you didn’t even notice was gone from your budget.
Give Up One Luxury per Family Member
If each of your family members sacrificed one luxury per week, this combined sacrifice you could be putting away a huge amount towards your vacation.
Perhaps your toddler gets an ice cream cone after school every Friday. Or maybe your daughter likes to get her nails done. Perhaps your husband likes to go to the driving range once a week. If everyone makes a collective decision to sacrifice one or two pleasures for the greater good of saving for a vacation, you could save plenty in no time and make your vacation a reality!