Venus of Urbino
Venus of Urbino
Tiziano Vecellio

Budgeting Tips



SAVING MONEY FOR A VACATION


Saving for vacation can be a financial adventure but "ye be warned", there may be a few obstacles and challenges along the way! Consider these several observations; you may have to forego eating out more than usual, skip the latest movie release, pass on shopping the latest fashions, and not attend a few sports venues. However, I promise you the sacrifice will be worth the end result of feeling satisfied for achieving the ultimate goal of saving for your vacation.


Ways to save
  1. Save $20 every paycheck per person or whatever you can save without sacrificing paying your bills on time. $20 may not seem like a lot but a little bit adds up over time. Worst case scenario is you will at least have saved a little for spending money for your trip.

  2. Setup a direct deposit and have a predetermined amount of money automatically taken out your paycheck every pay period and deposited into a special travel account.

  3. Use a cash back rewards credit card responsibly for everyday purchases and to pay your bills for a period of time. Immediately pay the balance on your card to avoid any finance charges or create unwanted debt. Cash in the rewards a few weeks before your trip.


Ways to cut back on spending.
  1. Make your coffee at home.

  2. Spend less money on alcohol and nicotene or avoid completely.

  3. Have a home movie night instead of going to the movie theatre.

  4. Save gas and use public transportation.

  5. Cook more. Meal prep and take your lunch to work.

  6. Buy necessities in bulk and use coupons when possible.

  7. Have a yard sale.

  8. Shop the clearance rack.


ATM VS MONEY EXCHANGE


I prefer using national banks ATM to withdraw my money because the rates are not as high as money exchange places. Usually your bank will charge a few dollars and around 3 to 5 percent of your total withdrawal which is very reasonable. I always use the currency of the local region because this offers the best exchange rate for your money and is usually preferred. I do however avoid using ATM's that are located in places of business because of security reasons and very high outrageous fees. The ATM's at the airport are also safe and more convenient.