Money & Career
Reality
Make your Dream Vacation a
by Katie Harrington
Summer is over, the kids are back in school, and many people are marking off another year they missed out on a family vacation. If this sound familiar and the reason is a lack of funding, then now is the best time to put a saving plan in place for next year’s getaway. Whether it’s a European adventure, Disney extravaganza or just a relaxing weekend trip, a vacation doesn’t have to put you in the red financially. “One of the big reasons why a vacation seems out of reach for so many is because they fail to adequately prepare for it,” says Christa Comeaux, officer with Lakeside Bank. “They often wait until a few months before they want to go on a trip to begin planning it and rely on credit cards to make it happen, forcing them to pay for it months and even years into the future.” According to Comeaux, a little advance planning and dedication can go a long way, and take you a long way as well. “One of the best and smartest ways to save for a vacation is to open a savings account specifically for your vacation fund,” says Comeaux. “Some financial institutions – including Lakeside – offer these accounts with special benefits to help you save the amount you need for your vacation. We’ll work with you to set a goal you can afford, and set up automatic payments to your account to make sure you reach it.” In addition to the scheduled contribution, there are other simple ways to help your vacation fund grow. “A family change jar is a great way to get the whole family involved in saving for your trip and is also a great way to teach
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even the youngest members in your house a savings lesson. Have every member in the household save their pocket change, and put it in a big jar labeled Vacation Fund,” Comeaux says. “Every once in a while, as a family, you can roll the coins, see how much you have and then put it in your vacation savings account.” Comeaux recommends taking advantage of paying off other debt as well. “If you pay off a car or a credit card, keep making that monthly payment, but instead, write the check to yourself and deposit it into your vacation savings account,” says Comeaux. “Chances are you’ve been paying on that note for years and are used to living without that money for day-to-day expenses so it’s money that won’t be missed.” Finally, Comeaux says making a commitment to putting ‘found’ money into your vacation savings account can help build your account up quickly. “Make a rule that rebates, tax refunds, gift checks or work bonuses go into the vacation savings account. Once again, this is money that you are accustomed to not having on a day-to-day basis anyway, so why not set it aside for your vacation?” These are just a few simple steps you can take to begin saving for your dream getaway and with a little dedication and creativity, you can be setting off on your dream vacation in no time. For more information on starting a vacation savings account, call Lakeside Bank at (337) 474-3766 or visit www.lakesidebanking.com.
Thrive Magazine for Better Living
September 2012