how to manage your money to pay for a $5,000 vacation every year
DESCRIPTION
Family vacations are one of those things that everyone seems to remember forever. Now is the time to start making preparations for vacations that the whole family will be talking about for years to come. And not just one vacation, either, but one each year! Yes, You Can Do This! You really can take a $5,000 vacation every year, even if you have a relatively modest income! The trick is in knowing how to manage your money to make those memorable vacations possible. Coming up with $5,000 may sound intimidating, especially if you’re already struggling to pay your bills each month. However, it's really not that difficult, if you're willing to eliminate some of the non-essentials from your life and maybe earn a few extra dollars each week.TRANSCRIPT
How to Manage Your Money to Pay for a $5,000 Vacation in
CASH Every Year
“I am indeed rich, since my income is superior to my expenses, and my expense is equal to my wishes.”
Edward Gibbon
That $5,000
vacation is yours to claim!
It’s Easier Than You Think!
$100 per week = your
$5,000 vacation.
Where can you get it?
Use these ideas as a
springboard to your
success!
Ways to make it happen…
Save It
Earn It
GET IT!
“If you would be wealthy, think of saving as well as
getting.”
Benjamin Franklin
How to Save It
3 Ways to Save Money
Make Saving a Priority
Eliminate Expenses
Reduce Expenses
Make Saving a PriorityPut money away before you can spend it.
Ask your employers to deposit part of your paycheck into a vacation savings account. Save while you earn.
Set up automatic withdrawals from your checking account to your brokerage account each month. Invest short-term. Think bonds, treasury bills, CDs.
Make Saving a Priority
Strive to save $200 a month; that’s $50 a week.
Set up a budget to free up extra cash.
Ask your employer to increase your tax withholding amount for larger tax refunds.
Amount Saved: $50/week
Eliminate ExpensesEliminate your home phone. Sign up for a free
Gmail account and make free voice calls online.
Amount saved: $10/week
Banish eating out once a week from your family routines. A low-budget restaurant trip can run you $45. Cook at home, instead, for $5.
Amount saved: $40/week
Eliminate ExpensesEliminate miscellaneous services like lawn service
or gym memberships.
Amount saved: $25/week
Keep your motor vehicle expenses at bay by cutting out unnecessary family cars. Participate in family carpooling. One less car could result in gas, insurance and maintenance savings. Consider a more fuel-efficient car.
Amount saved: $35/week
Eliminate ExpensesCancel your cable service and watch movies and
shows online. You can hook up your computer to your TV.
Amount saved: $25/week
Avoid buying $5 coffee at the corner coffee shop. Invest in a $20 coffee pot and eliminate the daily expense!
Amount saved: $25/week
Reduce ExpensesBe more conscientious when grocery shopping.
Use coupons. Make wise choices.
Amount saved: $25/week
Cut back on insurance expenses where you’re over-insured. Shop for insurance quotes yearly.
Amount saved: $25/week
Reduce Expenses
Shop for less expensive clothing. Try stores that sell barely used clothing. Look out for sales.
Amount saved: $20/week
Cut back on utilities. Turn off lights when not in use. Turn down the thermostat. Avoid wasting water.
Amount saved: $10/week
“Your greatest asset is your earning ability. Your greatest resource is your time.”
Brian Tracy
How to Earn It
4 Ways to Earn Money
Get a part-time job
Find a better paying job
Work for yourself on the side
Go for the lump sum
Get a Part-Time JobPart-time jobs are always available. You just need
to look.
You would be surprised how much you can earn from just a few hours a day.
Some good examples are newspaper delivery, bartending and babysitting.
Find a Better Paying JobEveryone should seriously consider looking for a
better job after spending 2 years at his or her current position.
It's a much quicker way to move your career forward than staying at the same company long-term.
A new job with higher earnings could result in an extra $500 a month.
Work for Yourself on the SideIdentify your strengths and promote them for
revenue.
Buy and resell items on eBay or Craigslist.
Start your own lawn mowing company.
Sell firewood if you have a large lot with trees.
Paint houses in your area on the weekends.
Go for the Lump SumFind houses on the market you can get for a low
price and flip them. Make a $5,000 profit when you sell it.
Look for abandoned homes and pre-foreclosures; owners will likely be willing to sell under market value.
Flip other high value items, like boats. Search for the deals and resell for good profits.
Save+
Earn
Plans of Action
• $25 – Save on groceries.
• $10 – Move to lower cost cable package.
• $10 – Eliminate home phone.
• $55 – Work 5 hours/week at an $11/hour job
Plan #1
Plans of Action
• $25 – Eliminate morning coffee stop.
• $15 – Take a lunch.
• $25 – Carpool.
• $35 – Mow 3 lawns a week.
Plan #2
Plans of Action
• $10 – Find cheaper insurance.
• $65 – Eliminate a night on the town once per week.
• $25 – Buy and sell one item on craigslist.com.
Plan #3
Plans of Action
• $25 – Eliminate cable TV.
• $10 – Save on utilities.
• $15 – Mow your own lawn.
• $20 – Shop at thrift stores.
• $30 – Do a few freelance jobs each month.
Plan #4
Plans of Action
• $40 – Get a raise at work.
• $15 – Walk your neighbor’s dog each morning.
• $20 – Eliminate NetFlix.
• $25 – Take lunch to work.
Plan #5
Additional Advice
Family
Affair
• Outline goals to all family members.• Allow everyone to take ownership in the
process.
Keep
Track
• Check progress of savings/earnings each month.
• Share details with all involved.
Stay
Motivated
• Get vacation ideas from family members.• Do online research together.
Closing NotesA $5,000 vacation can be yours with a little effort put
into:
Your reward: the vacation of your dreams – every year!
Saving Money
Earning
Money
We hope you enjoyed your Special Report!
Curtis Roese is an experienced professional with extensive experience in personal finance and small business matters. Curtis writes and publishes articles, courses, guides and special reports on his personal finance blog.
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