4 Ways to Save Money This Summer for Traveling in the Fall

By Francine Fluetsch on May 30, 2017

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That moment when you finish your last final of the quarter/semester is always one of relief, excitement, and the rush of freedom. While you want to give yourself some downtime in the summer to catch up on some sleep and go on fun adventures, summer time is also a great window to make some extra money.

Without the stress of school and assignments, you tend to find that you have more time on your hands than you know what to do with (give it a month and you’ll be bored), so why not clock in some extra hours at a job and save more money during summer, so you can do something amazing in the fall, like traveling perhaps? Here are some tips on how you can beef up your savings account for your traveling desires.

1. Chunk out your paycheck

It is so tempting on payday, when you see that money in your account, to go on a splurge and buy things that you have been wanting. Maybe your downfall is in the form of clothes (guilty) or going out to eat and for drinks, or on fun excursions with friends, or all of the above! You, of course, want to have a fun summer, and therefore can splurge a little, but before you even touch that paycheck, put a set amount into your savings account.

If you do it right when you get paid, you don’t run the risk of spending any money that you didn’t intend to. Either figure out a set amount that you want to chunk out consistently each time, or vary it depending on your hours and how much you got paid, but regardless of what you choose, get in the habit of moving the money on payday.

A little habit I’ve also gotten into is after filing away my saving chunk, paying bills, and using some fun money, I move any remaining money leftover from the last paycheck into my savings as well. This doesn’t always happen, depending on how many bills you have to pay or how much you splurge, but theoretically, you’ll be depositing into your savings twice every paycheck. Even if the leftover transfer is something small, like $2, that’s still two more dollars towards your travels than you had before. The little things always add up.

2. Save up your coins

Speaking of little things, one of my best friends got in the habit of saving up all her coins ever since high school, and whenever she fills up her bucket, she deposits it and ends up with a good chunk of change. It might not seem like it, but your coins can really add up depending on how often you pay with cash, so why not save all your loose change and deposit it at the end of the summer? Whatever you make by doing that will go directly into your travel savings, giving you a bit more wiggle room in terms of food and maybe a fun activity or two.

You can also see if your parents or friends have any loose change that they would like to contribute to your pile! Lots of people hate carrying around change as it really bulks up their wallets, and they might be happy to give it to you to help you with your ventures.

3. Watch for excess spending

There is always that question of want versus need: I want to get my nails done, but I don’t really need to. Maybe I should opt for a home manicure instead and save $30.

It’s not very fun to think about want versus need, especially during the summer when you want to go do stuff with your friends, but if you keep the big picture in mind of saving for your travels, you might have a bit of an easier time. This isn’t to say that you need to deprive yourself of everything that you want, simply be smart about it and think before you spend.

One of my biggest temptations is getting coffee when I go out. Coffee is my drug of choice and I drink it far more than I should, so when I want to save more money, I make sure to brew coffee at home and only buy it out if it’s an emergency (like when you have to pull a double shift at work and can hardly keep your eyes open — coffee goes from a want to a need).

When looking for clothes, consider what you need, like a new pair of shoes if your old running shoes are shot, versus what you simply want, as in a new pair of frames for your glasses even though your current frames aren’t that old yet.

If you can be careful with your spending on little things like this, I guarantee you’ll be able to save more of your paycheck than you originally thought.

4. Find free adventures

You don’t always need to spend money to have a good time, so if you want a week of fun without your bank account feeling it, why not opt for some free excursions? You could go on a hike, have a movie marathon with your friends, go to a free museum, go hang out at the park/dog park, go to the beach, hang out at a pool, etc. If you mix these free things in with those adventures that cost money, you’ll feel like you are always doing something, but you’ll be saving money in the process.

Keep your eye on the prize, don’t touch your savings, and you should be all set to travel come fall time!!

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