Have you thought about what you want to do this summer? Whether traveling with your partner or sending the kids to camp, you will need to make some money aside. But it doesn’t have to feel like a sacrifice. There are ways to save that allow you to reach your goal almost without realizing it. Below we show you the steps to achieve it.
The first thing is to set a budget.
Make a list of your monthly income and expenses, such as mortgage or rent, electricity, water, cell phone, gasoline, etc., to see how much extra you can count on to save little by little. If you have a partner, you can do it together by combining income and dividing expenses.
The next thing is to set your goal.
There are two important components to setting that summer plan goal: cost and time. If what you want to travel, it is important to calculate how much money you will need to achieve it. In addition to the tickets, you must include costs for your stay, transportation, food, and entertainment. Depending on the number of days you are going to travel, the estimated total cost will be higher or lower. The second important component is time, the date for which you want to travel. If the goal is to travel at the end of July, prepare a calendar so you can see how many weeks you have to save before the trip.
Finally, your savings plan.
To start your savings plan you must divide the total cost that you calculated in the previous step by the number of weeks before your goal date. This way you will know how much you should save weekly. If you are planning with your partner, perhaps the one with a higher income can contribute a little more to that weekly savings amount. That will depend on how both of you want to handle it.
The savings plan can be to travel, to buy a BBQ, send the kids to camp, or put a new air conditioner in the living room, among others. It’s up to you. The important thing is to start organizing as soon as possible to achieve it. You’ll see that if you plan it well, you will achieve it!
