Plan Your Play

Have you been saving for vacation?
Even in today's shaky economy, a financially healthy household operates on a budget, and an important part of every budget should be vacation. We work hard and deserve it. What happens if we don't budget for vacations? We end up putting it on our charge card ... AND, you know where that leads!

Ooops - I forgot to budget for my vacation!
Then, start today! Cut out the gorgeous picture of your dream vacation from the magazine and tape it to the fridge. Then, sit down and decide how much you'll need to make that dream vacation a reality. Figure in airfare, car expenses, lodging, meals, entertainment, etc (There's usually a lot of "etc!") When are you going? In six months? Nine months? Do the math to determine how much of your monthly paycheck will need to be saved in order to reach your goal by vacation time. Be sure to factor in that vacations always cost way more than we've figured. Remember too, you'll need some of that money ahead of time for things like hotel deposits.

Saving for vacation with a "Vacation Club Account"
Once a realistic monthly vacation budget amount has been determined, open a bank account. (Saving under the mattress is too risky, as well as too lumpy.) Many banks offer "Vacation Club Accounts." The requirements on these accounts vary from bank to bank, but usually ask for a starting deposit of as little as $5 and pay interest equal to a standard savings account. There is no monthly fee and the account can be set up as a direct deposit. Sophie spoke to over 25 banks and credit unions in search of the best provider of vacation savings accounts.  She hand selected the USA Federal Credit Union to provide you with an easy savings solution at an unbelievably attractive rate.  You can save for next years dream vacation in one easy step. You can continue reading this article on SheKnows.com simply by clicking here.

Source: Republished with permission by SheKnows.com