Issue time
8:17 am , by
admin
Category:
setting up a budget
Save money in your family budget for your summer vacation now
December 14th, 2010You might want to tell us that we must be nuts to think about our vacation now, when many people are in the middle of spending money on gifts for Christmas. (Hanukkah is already behind us.) Don’t get upset too soon! We know that “this the season of giving.” But just like you want to plan for the season of giving in your family budget, you also want to plan for the season of putting your feet up and enjoying the summer.
How do we plan both for the season of giving and summer vacation?
In our budget we have a monthly expense for “gifts” and for “vacation.” It is part of our spending plan, but we don’t go on vacation or buy gifts every month. Still, we allocate money to it every month. We save the money we don’t actually spend on gifts or vacation in our general savings account, from which we take it when it is the season of giving or time to go on vacation.
Saving for gifts and for vacation is a year-round task. If you keep putting money away for the months when you need to spend much more than normal, your family budget will thank you. And you will be much more relaxed facing these unusual bursts of spending which you otherwise probably won’t be able to pay for with your regular monthly income.
.
Get free ideas how to better handle money!
[...] Obedience presents Save money in your family budget for your summer vacation now saying: “We save money for vacations and gifts all year long. We use our savings when we buy [...]