How to Start Saving for Summer Vacation
Smart strategies to fund your dream getaway without breaking the bank
Common Trust Financial Tips
Published: May 30, 2025 • 6 min read
Start planning now to make your dream summer vacation a reality
Summer is almost here and that means the vacation you and your family have been dreaming about all winter is just around the corner. Whether it's an in-state trip to historic Gettysburg, a road trip to New York City or Boston, or a couple of weeks abroad, you've likely put some time into deciding where to go, how to get there, and how much you need to save to make it all happen.
Deciding when to start saving for your vacation really comes down to how much you're planning to spend—but it's always best to start early. Regardless of the size of your budget, there are a number of things you can do to save money for your trip.
Create a Vacation Budget You Can Stick To
To start off, you need to figure out everything you'll be paying for—and how much you'll be paying. Have you considered transport costs? What about accommodation and food? Are you planning on a guided tour? Do you need camping equipment?
Budget Checklist:
- • Transportation (flights, gas, rentals)
- • Accommodations (hotels, rentals)
- • Food & dining
- • Activities & entertainment
- • Souvenirs & shopping
- • Travel insurance
Set Up a Vacation Savings Account
One easy thing you can do to start putting money aside is open a savings account specifically for your summer vacation. Like holiday club accounts—which people use to save for gift shopping, traveling, and hosting events—a separate account will protect your vacation fund from being spent elsewhere and let you focus on tracking how close you are to your goal.
Savings Account Benefits
- • Earn interest on your vacation fund
- • Set up automatic transfers
- • Track progress toward your goal
Savings Calculator
Save $200/month for 5 months = $1,000 vacation fund
45% of goal reached
Cut Back on Expenses
A great summer vacation may mean having to reduce your spending in the months leading up to it. When you're in the planning stages, take some time to review your online account for your spending habits and identify some key areas where you might cut back.
Savings Opportunities
- Cook at home instead of dining out (save ~69%)
- Buy groceries in bulk
- Shop sales and use coupons
Sell Unwanted Items
Decluttering can also help you boost your vacation savings. Take advantage of the spring weather and hold a garage sale to make money on the items you don't use anymore.
Top Items to Sell:
Make Use of Your Tax Refund
Your tax refund can also contribute to a vacation fund. As long as you file by April 15, it's likely your refund will come in before summer starts. Since you'll already have some insight into how big the refund is, you can have it automatically deposited into your account and adjust your savings plan accordingly.
Use Credit Card Rewards
Whether you're booking a flight or a hotel, summer vacation is an ideal time to put your credit card rewards to work. Consider changing your current credit card for a travel rewards program that lines up with your travel style.
Travel Rewards Cards
Earn miles or points for flights, hotels, and more
Cash Back Cards
Get money back on everyday purchases
Ready to Start Your Vacation Fund?
Open a dedicated savings account today and begin working toward your dream summer getaway.
