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Tips to start saving money for your summer vacation

OKLAHOMA CITY, Okla. – The  Oklahoma Society of Certified Public Accountants (OSCPA) recommends taking time this winter to plan, save and earn so you can relax this summer without the stress of wondering how you’re going to pay for it all.

After the holidays, wallets can end up feeling pretty empty. And with the colder weather pushing through, many could be looking for their summer vacation to happen now.

The money management team at the OSCPA have put together a list of ways that Oklahomans can start saving for their summer vacation during this winter season. They say that December is the perfect time to think about the money you’ll need to meet your summer vacation needs—especially if your wallet is already wedged open for holiday shopping.

  1. Establish Budgets and Goals – One suggestion that they have is to start a separate savings account specifically for your summer vacation. While thinking about airfare and lodging is important, people tend to forget about food, entertainment, pet or child care, passports and visas. Starting a summer savings account now will help you set aside money for the extra costs that you might forget about.
  2. Redefine the Holidays – With more upcoming holidays or birthdays, think about doing other things that are more cost efficient and that might help you save some money. They suggest volunteering together, playing games or making your gifts instead of buying expensive gadgets and gizmos.
  3. Breaking Bad Habits – One thing that could possibly empty out a persons wallet are those pesky habits that eat up your bank account. They suggest breaking those bad habits like fancy coffee drinks, sugary treats and sickly cigarettes. Maybe make a New Year’s resolution to cut-back from these habits and it could benefit you in more ways than one.
  4. Fill Your Pockets While Filling Your Bellies – Losing money to fancy foods is another way you can lose your chance at a summer vacation. OSCPA suggests bringing leftovers to work for lunch instead of eating out,  having potlucks when entertaining guests and dining-in instead of dining-out.  While those expensive eats might look appetizing right now, your summer vacation might look better later on.
  5. Trusty Change Jar – The final suggestion on how to save up for the summer vacation you want, OSCPA says to keep a trusty change jar in your house. Setting aside those coins in your pocket at the end of your day might not seem like a lot right now but, when the sunny season arrives, it will be worth it.

Finally, they say that this shift in mindset from saving to earning is a powerful way to reach your financial goals, no matter what they are. For more information on how you can save for the summer vacation you want, visit their website at www.FindYourCPA.com.