The idea of saving up for a big trip can be intimidating. If you look at the big number that a trip will cost, it’s easy to give up before you get started. Here’s some tips to take that first step:

The first step, while super simple, is always the most difficult. Go to your bank and set up a high-yield account called “My Vacation”. Take your loose change jar or the contents of your special cookie jar with you. Set up your new account and make the first deposit. Make sure you are earning interest on your account….it’s free money!

Next step…set up a method to pay into your account. If you get a monthly check, work with your bank to automatically deposit a specific amount into your account. This amount disappears into your My Vacation account before it ever turns up in your general checking account. The idea is if you don’t see it, you won’t spend it on other things. The bank can help you set this up.

Say you want to go on a trip in two years that costs $5000. Divide the amount by 24 months and that will tell you how much you need to direct into the vacation account. Too much? Maybe the trip needs to be in three years?

I have set up a super high-yield account at an online bank. If you are internet savvy, you can search for high yield accounts at reputable banks and set your account up there. It is very easy to move money from your main bank accounts at your brick-and-mortar bank into an internet account automatically.

Finally, any unexpected money that comes your way goes into the vacation account. Income tax refund? Birthday gift money? Bam…your vacation is that much closer!

How about some planned moneymakers? Maybe it’s time to sell a few things you haven’t used in years? How about a closet clean out followed by a Garage sale? Clothing consignment store? Sell a few items on Craigslist, Facebook Marketplace or Ebay? Haven’t you been needing to clean out that closet anyway?! Now things are looking BETTER!