Saving for Travel? Lose That Travel Mason Jar
Saving to take that trip you’ve dreamed about can be a great deal of fun. After all, saving for something you look forward to is, in a way, half the distance toward your travel destination. Even people on a fixed income can budget an amount to go into the travel fund. The fun comes from watching it grow. Each time an amount is added to the fund there is cause for a mini celebration—preferably one that doesn’t add to your expenses. A dinner at home with a special cut of meat you’ve been holding for a special occasion might be just the right thing for your happy dance over seeing your savings grow. You are another step closer to visiting the grandchildren or riding a camel at the pyramids of Giza.
Saving enough for retirement travel comes with certain perimeters. For example, if your budget only allows you to put away $10 per week, it would take 15 years to save enough for an $8,000 trip. On the other hand, if you can stash $400 a month into a travel savings, you’re only looking at a couple of years. That may sound like a lot (especially if you’re on a fixed income) but there may be another way. Without going into great detail, the suggestion is that you look for ways to make extra income. Some people start a tutorial service at home. Some sell home baked goodies like cakes or cookies. Supermarkets and department stores often hire senior citizen greeters. There are other “work from home” listings on the internet, but be careful. For example, if a work from home offer requires you to send money for leads or any other reason, run –don’t walk—getting away from that site.
Cutting back on discretionary spending is another way to collect money for your travel fund. If you regularly go to the movies, cut back on that and put the money you would have spent into your travel kitty. Set aside the money you save by eating at home instead of going to a restaurant. Saving enough for retirement travel really depends on how much you want to take that trip. If it’s only a pipe dream, there won’t be the motivation to save.
Toss the Mason jar. That’s the senior citizen’s piggy bank. It may seem like great fun to use the jar as a depository for your travel fund so you can watch it grow. It doesn’t work. Something comes up and you need a few dollars, so you rationalize like this: “I’ll just borrow from the jar and pay it back next Tuesday when my check comes in.” Right, and Wimpy will pay for his hamburger on the very same day. Instead, put the money into a savings account at a bank or credit union. It will make a little interest, but Mason jars never do.