If you have not thought about where your family will go this summer for vacation, I know you have not thought about how you were going to pay for it either. There are so many fun and creative ways to save for vacation. Many of these techniques can be incorporated into your daily lifestyle and do not cause much thought or effort on your part. I am very aware saving can be a chore, but my goal is to take the chore out of saving and make it fun. Good habits are formed out of consistently and saving is nothing but good habit, if you treat it like a bill, you will always have a saving. Let’s get into these tips!
To ensure I give strategies for everyone, I will include both manual and automatic techniques, as well as some cash based strategies. Here are my top creative saving strategies:
#1 The 5 Dollar Bill Challenge
If you use cash more than a debit or credit card, please search the house for a large jar or even an empty cereal box. As you spend cash, hold onto you 5 dollar bills and placed them into you storage container of choice.
Qapital is a mobile app that allows you to set a goal, such as a ‘trip to Colorado’. You set the cost of the goal and then Qapital automatically takes money from your checking account and holds it within an account. Once you reach your goal, you can withdraw the funds to your checking account and use them towards your goal. Don’t worry, the mobile app will never overdraw your bank account.
#3 The Word of the Week Challenge
This is a hit with families. Pick a common word, it has to be so common that you forget to avoid the word in every day conversations. Whoever in the family uses the word has to put a dollar in the storage container of choice. Watch your words because it will cost you.
#4 The Bad Habit Challenge
We all have a bad habit that we want to get rid of, right? Well, pick that habit and every time you correct it, put a dollar into a jar. For instance, if you find yourself biting your nails and then you stop, you owe yourself a dollar.
Clarity combines budgeting and automatic saving! It is a mobile app that links to your debit card and tracks your transactions. It also analyzes your transactions and anything that appears to be a subscription, it will cancel them for you. Additionally, you can categorize by merchant and determined how much you have spent over the course of a month. It may help to see what you are spending money on so that can make cut backs, if necessary.
I believe combining some mix of automatic and manual saving challenge will be beneficial to any budget and goal, whether it is vacation or a new pair of shoes. Saving can be as fun as you make it. If you have a negative attitude towards it, it will drain all your energy. However, if you have a positive attitude, it will become easier to do. I love saving, it makes me feel good for the future of my family, it makes me not worry about those ‘life happens’ moments, it makes me feel free. What are some fun and creative ways you save money?