Tips for Saving for an International Vacation

So you're thinking about taking an international vacation? Maybe you've always dreamed of vacationing in Rome, Paris, or Tokyo. You've put it off because you know that international vacations are expensive. They don't have to be. There are cheap ways to travel internationally. Once you've decided to do it, you just need to save for your trip. Here are several tips towards a savings plan for an international summer vacation.

Determine how much you'll need to travel.

Depending on where you are planning to go, airfare and lodging could be major costs. For places in Europe, airfare is often reasonably priced, but lodging will be expensive. For places in Asia, airfare will be quite expensive due to the miles travelled, and lodging can also be high in major metropolitan areas like Tokyo and Beijing. The good news is that via discount sites like Go-Today.com, you can purchase trips that include both airfare and lodging, at very reasonable prices, and your trip can be customized to add additional days or other touristy things for while you are there. If you travel to Europe in the Winter, or South America in the Summer, these are off seasons, and you'll usually get better deals on travel. I've done a trip to London in November for two people for about $1,300 for seven days and six nights. If you can keep meals cheap, and purchase of souvenirs to a minimum

Establish an amount to be saved weekly or per paycheck

Once you've figured up how much you'll need, obviously, you'll need to budget a certain amount of savings each week or per paycheck. Commit to saving a set amount for each period and don't raid it for any reason. This amount doesn't have to be the full amount that you figure you'll need, but should be for at least a third to half of what you think you'll need for your international vacation. You'll cover the rest with the remaining tips 'm going to give you.

Rounding all transactions up and saving change

Another way to save a decent amount of money towards your international summer vacation is by rounding all of your transactions up when you record transactions into your check register. Some bank accounts will even do this for you! If that latte costs $3.52, write down $4.00 in your check register. If you make 20-30 transactions in a week, it's easy to save another $10 to $15 per week in this manner. And if you're taking this international trip with someone, he or she should be doing the same!

Sweeping leftover money to savings

Many banks will provide an account sweep into savings for you if you ask, but if yours doesn't, essentially a sweep means that at the end of every pay period you sweep any remaining cash in your checking account into savings. For example, say you are paid on the 15^th and last day of every month, then on the 15^th, you would look at your checking account balance, subtract what you were just paid that day, and sweep the remaining funds into your savings account.

Earning additional income

Any additional income you can earn during the time that you are saving for your international summer vacation should be applied towards your savings. Look for opportunities such as odd jobs for neighbors, perhaps a part time job, or writing online content for money through a site such as Textbroker or Yahoo Contributor Network. These sites will allow you to write articles of your choosing, and will pay you to do so! By combining the tips I've presented for quickly building up your savings, along with a detailed budget, you'll be overseas in no time!