5 Ways to Save for Spring Break 2017
For most young adults, the months following the winter holidays are usually spent doing one thing – preparing for Spring Break. Whether it’s prepping your tan or finding the perfect condo on the beach, it’s never a bad thing to have some extra spending money. Here are some easy ways to save money for your Spring Break trip:
- Cut out non-essential spending. Chances are you don’t need that venti latte or that new scarf. Cutting our $5 here and there will quickly add up and equate to more money to spend on nice dinners, a new swimsuit or even travel expenses.
- Don’t underestimate the power of the side-hustle. Earning some extra money on the side is another great way to watch your bank account grow. Look at your campus listings for part-time jobs in the bookstore, gym or even restaurants on campus. If you’re looking for something less rigid, ask around for babysitting or dog-walking gigs. Chances are, if you’re in a larger city, there are plenty of families who could use the help!
- Use a budgeting app on your smartphone. For example, the free Mintapp can help you stay on top of your expenses. The app connects directly to your bank account and tracks your transactions by category. The app even lets you set goals for yourself! All you have to do is set a date for your spring break trip and enter how much money you’ll need by that time, and Mint will do the rest. Other helpful, free apps include: Wally, GoodBudget and Level Money.
- Limit eating out. Keep your food costs in check. Meals out can be one of the largest and most underestimated expenses for students. If you have a meal plan, use it! You may not be craving meatloaf and all-you-can-eat salad, but chances are, this food is already paid for. If you don’t have a meal plan, stop by the grocery store and plan your meals accordingly. Do you have a marathon day of classes, meetings and work? Plan ahead and pack snacks, lunch and other necessities to make it through the day.
- Stick to a budget! Take a moment to take a hard look at your finances and plan what you should spend each week leading up to Spring Break. Before you know it, you’ll have a nice chunk of change set aside for a carefree Spring Break vacation. If you need some extra motivation, ask your friends to keep you accountable and on track with your budget! Chances are, they’ll be looking for ways to save too!
Saving money can be easy as long as you commit and make a conscious effort to do so every day. By creating a budget, limiting extra spending and looking for ways to have fun for free, you’ll be on your way to growing your spring break fund in no time!
This content is made available by Mutual Savings Credit Union for informational purposes only. By using this content you understand that there is no intent to give financial investment, retirement planning or budgeting advice. This content should not be used as a substitute for competent advice from a licensed financial professional or a consultation with your licensed accountant.