Well, you’ve done it. You trudged your way through school, every unsolved math problem, life-ending drama and fashion disaster. You’re on to the big leagues now. But don’t you deserve a little break? What you need is a graduation trip, but you’re still in school making minimum wage. Here are a few tips and tricks that will allow you to save a little cash for some time away.
Almost everyone has a change jar. The question is whether or not you dip into it. Put a picture of your destination on the jar to remind you what you’re saving for. Try to aim for putting all of your loose change for the day in the jar as well as an extra dollar or two daily. It may not seem like much at the time, but putting away just $2 a day can save you $730 in one year.
Do you come from a big family? If you know there are a lot of people wanting to give you graduation presents, you can funnel that into your trip fund. There are websites where you can set up a page just for your graduation gift and let friends and family know that donations are an option. Many will appreciate not having to take the time to shop for you and be happy knowing they are helping you achieve a goal.
Are you buying a fancy coffee every day? Spending Friday nights out with the girls racking up bar tabs? If so, you may be able to save a large amount of money just by cutting down on your daily expenses. Try putting all of the money you would otherwise spend on luxuries into a savings account. It is sure to add up quickly and give you a much more substantial trip fund.
Create a Savings Account
By making a bank account that is separate from your regular funds, you will be less likely to dip into it. Consider opening a savings only account at a different bank or credit union, just so you don’t see the balance every time you look at your checking. You also can set up a direct transfer to have $20 sent to that account from your paycheck each time. It will be an instant deposit for your future and not money you will be counting on as much.
Remove Unnecessary Expenditures
Are you a member of a gym you haven’t seen the inside of in 8 months? If so, that monthly fee is just money down the drain. Check your bank account for any recurring monthly payments that might be sucking up your funds. You really don’t need to have a copy of “People” every month, just to toss it in the recycling after one viewing.