Travel On A Budget: A Separate Account

Saving For Travel

There are several things we do to enable ourselves to travel as much as we can, which means we have to pay attention and make sure we have the funds available at any time. I love that we have the flexibility to say “I want to visit Seattle” and our trip is booked minutes later. Saving for travel is important to making the travel experience for us, it’s nice to not worry about the money being there while we are away. A big part of this is making sure there is always an amount of money set aside for these spontaneous trips. Keep in mind, I mean spontaneous in the most planned way possible. As I have mentioned before, we want to make traveling a priority, and we want to feel good about the adventures we go on and the places we have seen.

At any point in our lives, travel could be taken away from us. At some point we might be limited to the places we can go or the things we can do, so for now we want to go everywhere and see everything that we can. Having one specific place for our travel funds is what allows us to know where we can go and what we can do. I started doing this before we got married and combined our accounts, but I’m happy to have continued it to our married life as well.

Most employers give you the option to have direct deposit, and then split your deposits into different accounts. I specified a percentage of my paycheck to go to a travel savings account and the other percentage to go into our personal savings. I only look at our travel savings account when it comes to making travel plans, I find that if the money doesn’t ever hit the bank account that I am constantly checking, it is kind of out of sight out of mind. At least until we are ready to go on vacation. Then, if it isn’t in the account, we have to wait to take the trip.

Most of the time I use travel points from my Southwest card to book flights, and then reward hotel nights for our hotel stay (more on this next week!), so we are only paying for taxes or pre-purchased activities before we leave. Then while we are traveling we, again, are only using our Southwest card or paying in cash. Then when we get home, I pay off our card with money directly from our savings. (If you want to learn more about this, check out this post about how we fly free almost all of the time)

While the amount that gets deposited into the account each month isn’t very much, it goes a long way when you are planning ahead. I really like to focus on what we do while we are vacationing, instead of where we stay or how we get there, but things like this make it easier to have an all around wonderful trip!

Are you focused on saving for travel? How do you do it?

ps. I realized I have 4 travel posts in a row planned for next week…I hope you’re ready!

  • http://www.portland-grace.com Portland | Grace – Travel Blog

    The idea of having the money direct deposited is so great. I usually just transfer it myself which means I forget to do that in really busy months. I am setting up a direct deposit to my travel account today :)

    • http://totravelandbeyond.com/ Macy Volpe

      I used to go through every payday and transfer money into both of my savings accounts, but I often forgot. Now my travel account is through another bank so it’s difficult or charges a fee to transfer, this makes me even less likely to spend the money on other things.

  • http://www.thefreeandwildblog.com Annie

    This is a fantastic idea! I love your travel tip posts almost as much as I love your blogging tips posts! GET IT GURL

    • http://totravelandbeyond.com/ Macy Volpe

      I’m so happy you think they are helpful! I love sharing anything I can!

  • http://ohhey-ilikethat.com Lauren

    4 travel posts in a row??? Oooh I love those!

    • http://totravelandbeyond.com/ Macy Volpe

      It’s on over here!

  • http://www.simplemomentsstick.com/ Susannah

    What a wonderful idea! I love traveling and we’re always saving for our next trip. A separate account would be perfect!

    • http://totravelandbeyond.com/ Macy Volpe

      It really helps us continue to make traveling a priority.

  • http://vivianbishopxo.blogspot.com/ Vivian Bishop

    I often neglect actually putting that money into savings for travel because I end up using it somewhere else, but that is a great idea because you never actually see that money.

    • http://totravelandbeyond.com/ Macy Volpe

      That is exactly how I feel! We have gotten used to that money not being in our regular accounts, therefore we don’t spend it.

  • Jasmine @makingrestorations

    we have a separate account too, though we normally pay for our flights and stay with travel credit card points well before we leave

    • http://totravelandbeyond.com/ Macy Volpe

      It’s so nice having travel money in one location! If we don’t use points and reward nights, then we pay off the card as soon as we book those things. For everything else we buy on vacation, we pay it as soon as we get home from the trip.

  • http://www.wanderingweekenders.com/ Ashley @ Wandering Weekenders

    Having the separate account is seriously the best! We didn’t combine all of our accounts when we got married, so we use Chris’ personal account for our travel funds. It’s the whole out of sight out of mind thing like you said. Although, I feel like even though we have the money saved, half the time we just end up trying to pay it off with our everyday checking money. It’s so weird, I know!

    • http://totravelandbeyond.com/ Macy Volpe

      We actually do the same thing! It helps us look at the money in our travel savings more as fun/adventure money.

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